Tag: Anupam Rasayan India

WPI Inflation Eases to -3.48% in May – Top Indian Market Updates

Post author By Ben Benny
Post date June 14, 2023

Here are some of the major updates that could move the markets tomorrow:

May WPI inflation falls to -3.48%, lowest since November 2015

According to the Ministry of Commerce, India’s wholesale price index (WPI)-based inflation fell from -0.92% in April to -3.48% in May. WPI is at its lowest level since November 2015, marking the second consecutive month of negative wholesale inflation in India. Food wholesale inflation declined to -1.59%, while inflation in the fuel and power category reached -9.17%. Additionally, inflation in manufactured products decreased from -2.42% to -2.97% in May.

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Indian Oil Corp to set up aviation fuel plant with LanzaJet in Haryana

Indian Oil Corp Ltd (IOCL) plans to establish an 80,000 tonnes sustainable aviation fuel plant in partnership with LanzaJet in Haryana. The project is estimated to require an investment of approximately $280.1 million (~Rs 2,300 crore). IOCL is currently undertaking a pilot project for green fuel in collaboration with Praj Industries in Maharashtra.

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Ipca Labs receives 11 observations from USFDA for MP facility

The US Food and Drug Administration (USFDA) has raised concerns about Ipca Laboratories’ manufacturing facility in Ratlam, Madhya Pradesh. During an inspection conducted from June 5 to June 13, the USFDA issued 11 observations about the facility. These observations pertain to compliance with cGMP (Current Good Manufacturing Practices) regulations. This is crucial for ensuring the quality and safety of pharmaceutical products.

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Gujarat Pollution Control Board revokes closure order to Heranba Industries

Heranba Industries announced that the Gujarat Pollution Control Board (GPCB) has lifted the order for the closure of its Vapi’s Pant units. The company had previously received an order from the GPCB instructing the prohibition and closure of operations at Unit-I and Unit-II located in Vapi. This development allows the company to resume its operations at the Vapi’s Pant units.

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SpiceJet’s financial woes deepen with $15 million judgment in UK court

SpiceJet is facing new troubles as two aircraft leasing companies, GASL Ireland and VS MSN, have obtained a summary judgment of $15 million against the airline in the London High Court. This judgment adds to the existing legal challenges faced by SpiceJet, as three more cases have been filed against the airline in the commercial courts in London. GASL Ireland and VS MSN are expected to seek enforcement of the UK court’s judgment through the National Company Law Tribunal (NCLT) in India.

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Ramkrishna Forgings bags order worth 4.5 million euros in Europe

Ramkrishna Forgings has secured a contract worth 4.5 million euros from a well-known European passenger rail coach manufacturer. The contract entails supplying undercarriage parts, and the company expects the contract to be completed within a two-year timeframe. Kolkata-based Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings.

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KEC International secures orders worth Rs 1,373 crore

KEC International Ltd has secured orders worth Rs 1,373 crore across multiple business segments. The orders include projects in the railways vertical, transmission and distribution (T&D), cable, and civil businesses. In the T&D segment, the company received orders for transmission projects in India and the United States, including a 400 KV transmission line order in India and the supply of towers, hardware, and poles in the US through its subsidiary, SAE Towers.

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USFDA concludes inspection at Ahmedabad facility of Zydus Lifesciences with zero observation

Zydus Lifesciences Ltd has received a “Nil observation” from the US Food and Drug Administration (USFDA) for its Zydus Biotech Park in Ahmedabad. This indicates that the facility complies with the current Good Manufacturing Practices (GMP), ensuring the production of safe and effective products. In addition, Zydus Lifesciences has obtained final approval from the USFDA for Varenicline tablets, used to treat smoking addiction.

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Anupam Rasayan secures Rs 2,195 crore supply deal from Japanese firm

Anupam Rasayan has secured a supply contract worth Rs 2,186 crore from a prominent Japanese specialty chemical company. The contract involves the supply of a life science active ingredient for five years. The supply is scheduled to begin in 2025. It is subject to successful product validation, which is expected to take place over the next 18 months. Anupam Rasayan will produce the active ingredient in its existing multipurpose manufacturing facilities.

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Maruti Suzuki to launch its most expensive car in India

Maruti Suzuki is preparing to launch its most expensive car, ‘Invicto,’ with a starting price of over Rs 20 lakh. The three-row, seven-seater MPV is considered a twin of Toyota’s Hycross. Maruti Suzuki aims to capture a significant portion of the market with the Invicto, which will be available in petrol and hybrid variants. The three-row SUV/MPV segment stood at around 2.58 lakh units in FY22, with vehicles priced over Rs 20 lakh accounting for approximately 1.2-1.25 lakh units.

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Tags Anupam Rasayan India, heranba industries, iocl, Ipca Labs, kec international, maruti suzuki, ramkrishna forgings, SpiceJet, wpi inflation, zydus lifesciences

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Apollo Tyres Net Profit Jumps 277% YoY to Rs 427Cr in Q4 – Top Indian Market Updates

Post author By Ben Benny
Post date May 9, 2023

Here are some of the major updates that could move the markets tomorrow:

Apollo Tyres Q4 Results: Net profit jumps 277% YoY to Rs 427 crore

Apollo Tyres reported a 277% YoY jump in consolidated net profit to Rs 427 crore for Q4 FY23. Its operating revenue rose 12% YoY to Rs 6,247 crore during the same quarter. The company’s board has recommended a final dividend of Rs 4 and a special dividend of Rs 0.5 per equity share on the occasion of the company’s 50th annual general meeting.

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Adani Ports to prepay $130 million debt

Adani Ports & Special Economic Zone (APSEZ) will prepay $130 million of debt to regain investor confidence. The company had floated a tender to buy back as much as USD 130 million of its July 2024 bonds and similar amounts in each of the next four. APSEZ has received an aggregate principal amount of $412.7 million.

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Nazara Tech Q4 Results: Net profit rises 18% YoY to Rs 2.6 crore

Nazara Tech reported an 18% YoY rise in consolidated net profit to Rs 2.6 crore for Q4 FY23. Its operating revenue increased 65.2% YoY to Rs 289 crore during the quarter. The total expenses for the quarter rose to Rs 281 crore from Rs 174 crore a year ago. In FY23, gaming made for 37% of Nazara Tech’s total revenue, while 49% came from eSports, and the rest from AdTech.

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Dalmia Cement signs MoU to invest Rs 4,600 crore in Assam

Dalmia Cement Bharat has signed a Memorandum of Understanding (MoU) with the Assam government to invest about Rs 4,600 crore and create 2500 jobs in the state. The company aims to promote industrial activity and support the overall development of the region, with the government’s assistance.

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India Bulls Real Estate merger with Nam Estates and Embassy One withheld by NCLT

The merger of Nam Estates Private Limited and Embassy One into India Bulls Real Estate has been withheld by the Chandigarh Bench of the National Company Law Tribunal (NCLT) despite already being sanctioned by the NCLT Bengaluru Bench. The Chandigarh Bench raised concerns based on objections cited by the Income Tax department to the merger.

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Raymond Q4 Results: Net profit falls 26% YoY to Rs 196.5 crore

Raymond Ltd reported a 26% YoY fall in consolidated net profit to Rs 196.5 crore for Q4 FY23. Its operating revenue rose 9.8% YoY to Rs 2,150 crore during the same quarter. The total income during the quarter was up 7.89% to Rs 2,192 crore. Total expenses of the company stood at Rs 1,939.27 crore, up 17.34% YoY.

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Venus Remedies gets marketing approval for cancer drugs in Philippines, Iraq

Venus Remedies has obtained marketing authorization for two additional cancer drugs, Bleomycin and Gemcitabine, from the Philippines and Iraq, respectively. Bleomycin is used to treat various types of cancer, while Gemcitabine is used to treat a type of lung cancer. The company has secured marketing approval for 37 products in the Philippines.

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Anupam Rasayan renews long-term contract worth Rs 436 crore

Anupam Rasayan India Ltd has renewed a long-term contract with a German multinational firm worth around Rs 436 crore for the supply of patented life science specialty chemicals exclusively for the next three years. The renewal is in accordance with the automatic clause agreed upon by the parties in the long-term agreement signed three years ago.

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Castrol Q4 Results: Net profit falls 11.3% YoY to Rs 202 crore

Castrol reported an 11.3% YoY decline in net profit to Rs 202.5 crore for Q4 FY23. Its operating revenue rose 4.7% YoY to Rs 1,293 crore during the quarter. EBITDA stood at Rs 295 crore, down 7% from Q4 FY22. According to the company, the fall in profit is due to a rise in input costs.

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Kansai Nerolac declares 1:2 bonus issue

Kansai Nerolac Paints Ltd. announced a bonus share issue of 1:2. This means that two shares will be issued for every equity share held by eligible shareholders as of the record date. The record date has not yet been determined. The board of Kansai Nerolac also recommended a dividend of Rs 2.70 per share for the financial year 2023.

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Three Adani firms lose endorsement of UN-backed climate group

Adani Green, Adani Transmission Ltd. and Adani Ports & Special Economic Zone Ltd. were removed from the list of “companies taking action” published by the Science Based Targets initiative (SBTi) in late April 2023. The UN-backed group helps companies establish concrete plans to reduce emissions consistent with the Paris Agreement’s target of limiting global warming. The SBTi found that the companies are not in conformity with the initiative’s standards and policy requirements.

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Tags Adani Group, adani ports, Anupam Rasayan India, apollo tyres, castrol india, dalmia bharat, india bulls real estate, kansai nerolac paints, nazara technologies, raymond, venus remedies

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Bajaj Auto’s Net Profit Falls 2% to Rs 1,433Cr in Q4 – Top Indian Market Updates

Post author By Ben Benny
Post date April 25, 2023

Here are some of the major updates that could move the markets tomorrow:

Bajaj Auto Q4 Results: Net profit falls 2% YoY to Rs 1,433 crore

Bajaj Auto reported a 2% YoY decline in net profit to Rs 1,433 crore and an operating revenue of Rs 8,905 crore, up 11.7% YoY, for Q4 FY23. EBITDA rose 25.7% YoY to Rs 1,716.6 crore during the quarter. EBITDA margin stood at 19.3%, compared to 17.1% in Q4 FY22. The company’s board recommended a dividend of Rs 140 per share.

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Zydus Lifesciences gets USFDA approval to market Metronidazole Topical cream in US

Zydus Lifesciences has received the final approval from the US Food and Drug Administration (USFDA) for manufacturing and marketing Metronidazole Topical cream in the US. According to IQVIA data, the cream had sales of $25m in the US in the 12 months ended February 2023. Zydus’ Topical manufacturing facility in Ahmedabad will manufacture the product.

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HDFC AMC Q4 Results: Net profit jumps 10% YoY to Rs 376 crore

HDFC Asset Management Company Ltd (HDFC AMC) reported a 10% YoY increase in net profit to Rs 376.2 crore and a 5% rise in revenue to Rs 541 crore for Q4 FY23. The company’s Quarterly Average Assets Under Management (QAAUM) for Q4 was Rs 4.49 lakh crore, compared to Rs 4.32 lakh crore for the same period last year. The company’s board has recommended a dividend of Rs 48 per share.

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Tata Consumer Q4 Results: Net profit rises 23% YoY to Rs 268 crore

Tata Consumer Products reported a net profit of Rs 268 crore for Q4 FY23 compared to the loss of Rs 217 crore in Q4 FY22. The revenue from operations rose 14% YoY to Rs 3,619 crore. The company’s profit before exceptional items and tax also increased 13% YoY to Rs 456 crore led by strong growth in the India branded business. The board has recommended a final dividend of Rs 8.45 per equity share.

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L&T Construction bags orders in the range of Rs 1,000-2,500 crore in India and overseas

Larsen and Toubro’s (L&T) Power Transmission & Distribution (PT&D) business has secured significant orders in India and overseas. L&T has won a power supply system order for the second phase of Chennai Metro and an order to supply, construct, test and commission a 132kV substation in the United Arab Emirates. The company aims to reduce Aggregate Technical & Commercial losses at a pan-India level through the latest bagged order under the Reforms-based Results-linked Distribution Sector Scheme (RDSS).

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Anupam Rasayan signs long-term supply contract worth Rs 380 crore

Anupam Rasayan has signed a Letter of Intent (LoI) worth $46 million (Rs 380 crore) with a major American multinational corporation to supply a new-age specialty chemical intermediate for the next five years. The company expects its share of revenues from the US to significantly increase in the coming years. The product will be manufactured in its upcoming multipurpose manufacturing facilities and is being produced in India for the first time.

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Sun Pharma launches novel therapy CEQUA for dry eye disease in India

Sun Pharmaceutical Industries Ltd has launched its ophthalmology treatment CEQUA in the Indian market to treat Dry Eye Disease (DED). The treatment is being released by one of its wholly-owned subsidiaries using nanomicellar (NCELL) technology. CEQUA is the first DED treatment in India and has already been launched in the United States and other geographies as part of Sun Pharma’s specialty portfolio of drugs.

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Serum Institute to double investment in Biocon Biologics to $300 million

Serum Life Sciences will make an additional equity investment of $150 million in Biocon Biologics (BBL), a subsidiary of Biocon. It had invested $150 million in Biocon Biologics in November 2022, and this additional investment will be made through the conversion of the $150 million loan provided to Biocon Pharma into equity in BBL. The total aggregate equity investment of SILS in BBL will now amount to $300 million.

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AU SFB Q4 Results: Net profit rises 23% YoY to Rs 425 crore

AU Small Finance Bank has reported a 23% YoY increase in net profit to Rs 425 crore. The Net Interest Income (NII) also increased 37% YoY to Rs 4,425 for Q4 FY23. The bank’s total income rose 34% YoY to Rs 9,240 crore. The gross non-performing assets ratio fell to 1.7% from 1.98% in Q4 FY22. The bank’s board proposed a 10% dividend of Rs 1 per equity share for Q4 FY23.

Read more here.

Tags Anupam Rasayan India, au small finance, Bajaj Auto, Biocon, hdfc amc, larsen & toubro, Sun Pharma, Tata Consumer Products, zydus lifesciences

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Tata Motors to Invest Rs 15,000 crore in EV Segment – Top Indian Market News

Post author By marketfeed Team
Post date March 15, 2022

Tata Motors to invest Rs 15,000 crore in EV segment in 5 years

Tata Motors Ltd is planning to invest Rs 15,000 crore in the electric vehicle (EV) segment in the next five years. The automaker is planning to develop 10 more new offerings in the segment. It has raised $1 billion (~Rs 7,637 crore) in funding from private equity major TPG in its EV division, valuing the business at $9.1 billion.

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Amazon, Future Retail talks have failed, lawyers tell Supreme Court

Talks between Amazon and Future Retail aimed at resolving a long-running dispute over whether Future’s retail assets can be sold to Reliance Industries have failed, lawyers for the companies told the Supreme Court. Both Amazon and Future would like to resume arbitration proceedings in Singapore that had been put on hold by the New Delhi High Court. The Supreme Court will hear arguments from Amazon on Wednesday and decide on the matter.

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Auto PLI scheme attracts Rs 74,850 crore investment proposals

Around 75 auto component makers received approvals from the Centre under the Production Linked Incentive (PLI) scheme for automobile and auto components manufacturing. Maruti Suzuki, Hero MotoCorp, Toyota, Motherson Sumi, Bosch, and Tata Autocomp are among the list of companies that have been approved for the scheme. The PLI scheme has attracted investment proposals of Rs 74,850 crore for the next five years. This figure is 76.11% higher than the planned target of Rs 42,500 crore.

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Heritage Foods launches Premium Badam Milk

Heritage Foods Ltd has launched an all-new Premium Badam Milk with real almond bits. The ‘Badam Charger’ is the latest addition to the company’s growing list of value-added products (VAP) portfolio. It is prepared without any artificial ingredients, colors, or flavours. The drink will be available across all general trade and modern trade stores. It will also be sold on online grocery platforms.

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Blue Star launches new range of affordable ACs

Blue Star Ltd has unveiled a new range of ‘affordable-yet-best-in-class differentiated’ split air conditioners. The company has launched nearly 50 models across the spectrum of inverter, fixed speed, and window ACs. The range of ACs comprises 3-star, 4-star, and 5-star inverter split. They are available at prices starting from Rs 30,990.

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Ramkrishna Forgings secures domestic order from India’s largest MHCV OEM

Ramkrishna Forgings Ltd (RFL) has secured an order worth Rs 75 crore per annum from India’s largest original equipment manufacturer (OEM) in the Medium & Heavy Commercial Vehicle (MHCV) segment. The company has established a strong presence among domestic customers. It is steadily cementing its position on the back of recent order wins. RFL is one of the leading suppliers of rolled, forged, and machined products.

L&T’s subsidiary wins multiple orders from India and abroad

The Power Transmission & Distribution business of Larsen & Toubro (L&T) has secured significant orders (in the range of Rs 1,000-2,500 crore) in India and abroad. The renewable arm of the business has won an order to construct a 245 megawatts (MW) solar power project in Rajasthan. L&T has also secured an order to implement a solar photovoltaic cum storage project in Kutch, Gujarat. In the Middle East region, the business has won orders for the supply and construction of shunt reactors in 132 kV substations.

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Anupam Rasayan acquires 24.96% stake in Tanfac Industries

Anupam Rasayan India Ltd (ARIL) has completed the acquisition of a 24.96% stake in Tanfac Industries Ltd (TIL) from Birla Group Holdings. The specialty chemicals maker has acquired joint management control of TIL. ARIL has also become TIL’s promoter, along with Tamilnadu Industrial Development Corporation Ltd, with effect from March 11, 2022. Incorporated in 1972, TIL is a specialty fluoride chemical manufacturer.

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PNB declares IL&FS Tamil Nadu Power Company loan as fraud

Punjab National Bank reported a fraud of Rs 2,060 crore in the non-performing account (NPA) of IL&FS Tamil Nadu Power Company Ltd (TNPCL). The bank has made a provision of Rs 824 crore as per Reserve Bank of India’s prudential norms. Last month, Punjab & Sind Bank had declared the same account with outstanding dues of Rs 148 crore as fraud. IL&FS TNPCL had a payment due of Rs 7,181 crore at the end of March 31, 2021.

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Zomato grants $150 million loan to Blinkit

Zomato Ltd’s board has approved the acquisition of a 16.66% stake in Mukunda Foods, a food robotics company, for $5 million (~Rs 38.4 crore). The investment will help Mukunda Foods scale faster, help reduce restaurant food prices and expand margins. Zomato has also granted a loan of $150 million (~Rs 1,151 crore) to Blinkit (formerly known as Grofers), an instant delivery service.

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Tags amazon reliance war, Anupam Rasayan India, auto pli, Blue Star, heritage foods, larsen & toubro, PNB, ramkrishna forgings, tata motors

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Bharti Airtel to Reduce Debt, Fuel Growth With Rs 21,000 crore Fund Raise – Top Indian Market News

Post author By marketfeed Team
Post date August 30, 2021

Bharti Airtel to reduce debt, fuel growth with Rs 21,000 crore capital raise

Bharti Airtel founder-chairman Sunil Mittal said the telecom operator aims to improve its access to growth capital and reduce debt leverage. He said the company has been “loaded with extraordinary debt” and will not shy away from raising tariffs. During an investor call, Sunil Mittal also said that he remains committed to the idea of monetisation of assets at an appropriate time. The remarks come a day after Bharti Airtel’s board approved a plan to raise Rs 21,000 crore by selling shares to existing shareholders, ahead of the rollout of its 5G network.

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NTPC to ramp up coal stock and production from captive mines

NTPC Ltd said it is arranging for coal at its power projects where fuel stocks are low and increasing production from its captive coal mines to help meet the surge in electricity demand. This move comes against the backdrop of India stopping coal supplies for a week to plants having more than 15 days’ stock to free up ~1.77 lakh tonnes of fossil fuel to be redistributed to power plants having low stocks. Coal stocks have depleted at thermal power plants primarily due to an increase in demand for electricity and lower generation by hydropower plants.

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SSWL signs pact with Tata Steel Long Products to supply round bars

Steel Strips Wheels Ltd (SSWL) has signed an agreement with Tata Steel Long Products (TSLP) to supply round bars of various grades for a period of 3 years. These products will target automotive customers in India. According to SSWL, the deal has a supply potential of 50,000 tonnes of rolled round bars per annum. TSLP, a subsidiary of Tata Steel, manufactures high alloy steel for the auto sector and wire rope industry.

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Maruti Suzuki to hike prices of all models in September

Maruti Suzuki India Ltd announced that it will raise prices across its range of vehicles in September to offset the increase in input costs. This will be the third price hike by the company in the current financial year (FY22). “Over the past year, the cost of the company’s vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative to pass on some impact of the additional cost to the customers through a price rise” said Maruti Suzuki in a filing.

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Granules India gets Health Canada approval to market arthritis tablets

Granules India Ltd has received marketing approval from Health Canada for Acetaminophen Extended-Release (ER) tablets OTC, 650mg. It is used for the treatment of Arthritis pain. The drug will be manufactured at the company’s facility in Gagillapur, Hyderabad. Now, Granules India has a total of two Abbreviated New Drug Submission (ANDS) approvals from Health Canada.

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L&T Construction secures multiple contracts across various business segments

L&T Construction has secured significant orders (in the range of Rs 1,000-2,500 crore) across various business segments. The buildings and factories business has received an order to construct multilevel parking and an advocates chamber for the High Court at Allahabad with a built-up area of ~20 lakh square feet. Its power transmission and distribution business has bagged an order for the construction of a substation in Saudi Arabia. L&T’s smart world and communication business has secured a smart city project at Moradabad, Uttar Pradesh.

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Anupam Rasayan secures deal worth Rs 135 crore from Japanese firm

Anupam Rasayan India Ltd (ARIL) has received and signed a Letter of Intent (LoI) worth Rs 135 crore with a Japanese multinational chemical company for supplying a life sciences-related specialty chemical product. The company will enter into a long-term contract with the Japanese firm to supply the product for the next 4 years. ARIL is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India.

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KNR Construction to dilute stake in 3 highways projects to Cube Highways

The Board of Directors of KNR Constructions Ltd has approved the dilution of its entire stake in three wholly-owned subsidiary highway companies to Cube Highways and Infrastructure III Pte. Ltd and affiliates. The company will dilute its stake in KNR Shankarampet Projects, KNR Srirangam Infra, and KNR Tirumala Infra. The transaction will be based on the share purchase agreements (SPAs) entered into by KNR Constructions and its subsidiaries according to the concession agreement and Ministry of Road Transport and Highways circulars.

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L&T Finance in talks with HSBC to sell its mutual fund business: Report

According to news reports, L&T Finance is in advanced talks with HSBC to sell its mutual fund (MF) arm. In 2020, private equity firm Blackstone was also engaged in talks with L&T Finance to buy its MF business for Rs 3,200 crore. However, the deal did not materialise as market regulator SEBI did not give its approval due to the nature of the deal. SEBI does not favour private equity firms owning a majority stake in mutual funds due to their short-term nature. L&T Finance aims to sell its mutual fund arm to monetise its non-core businesses.

Read more here.

Tags Anupam Rasayan India, Bharti Airtel, granules india, knr construction, larsen & toubro, maruti suzuki, NTPC, steel strips wheels

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IOC Reports 78% QoQ Rise in Net Profit in Q4 – Top Indian Market News

Post author By marketfeed Team
Post date May 19, 2021

IOCL Q4 Results: Net profit rises 78% QoQ to Rs 8,781 crore

Indian Oil Corporation Ltd (IOCL) reported a 78.6% quarter-on-quarter (QoQ) increase in net profit to Rs 8,781 crore for the quarter ended March (Q4). Its revenue rose 16.3% QoQ to Rs 1.24 lakh crore during the same period. The oil retailer’s operating profit grew 40.3% QoQ to Rs 13,502 crore. The company’s gross refining margin (GRM) stood at $5.46 a barrel in FY21, compared with $0.08 per barrel in FY20. IOCL’s board has recommended a final dividend of Rs 1.50 per share.

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Adani Green Energy to acquire 5-GW renewable portfolio from SB Energy for $3.5 billion

Adani Green Energy Ltd (AGEL) has signed definitive agreements to acquire 5 gigawatts (GW) of renewable power portfolio from SB Energy India for a fully completed enterprise evaluation of $3.5 billion (~Rs 25,600 crore). SB Energy is a joint venture (JV) between Japan-based Softbank Group and Bharti Group, who held 80% and 20% stake, respectively. It has a total renewable portfolio of 4,954 megawatts (MW) across four states in India. This transaction marks the largest acquisition in the renewable energy sector in India.

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JK Tyre Q4 Results: Net profit at Rs 196 crore

JK Tyre & Industries reported a consolidated net profit of Rs 196.02 crore for the quarter ended March (Q4 FY21). It had posted a net loss of Rs 46.95 crore in the corresponding quarter last year (Q4 FY20). Its revenue from operations rose 63.3% YoY to Rs 2,921.28 crore in Q4 FY21. For the financial year ended March 31, 2021 (FY21), net profit has jumped 111% YoY to Rs 319.34 crore. The company’s board has recommended a dividend of Rs 2 per share.

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Anupam Rasayan secures orders worth Rs 540 crore to supply specialty chemicals

Anupam Rasayan India Ltd has secured orders worth Rs 540 crore from two multinational companies for supplying specialty chemicals. The company will provide life sciences-related specialty chemicals to both firms for a period of five years. It will produce the materials required for these contracts in its current multipurpose facilities. Gujarat-based Anupam Rasayan is engaged in custom synthesis and manufacturing of specialty chemicals.

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BEML unveils mechanical minefield marking equipment for Indian Army

BEML has rolled out the prototype of mechanical minefield marking equipment Mk-II, built on BEML TATRA 6×6— an ‘Atmanirbhar’ product. The equipment is designed for marking minefields at a faster rate, semi-automatically, and with minimal human intervention. The product was developed through a transfer of technology (ToT) from Research & Development Establishment Engineers (R&DE Engineers) of the Defence Research and Development Organisation (DRDO).

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Heritage Foods Q4 Results: Net profit at Rs 24 crore

Heritage Foods Ltd reported a consolidated net profit of Rs 24.4 crore for the quarter ended March (Q4 FY21). It had posted a net loss of Rs 209.9 crore in the corresponding quarter last year (Q4 FY20). The dairy company’s revenue from operations declined by 5% YoY to Rs 619.4 crore in Q4 FY21. The board of Heritage Foods has recommended a dividend of Rs 5 per share.

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Royal Enfield to recall 2.36 lakh motorcycles due to defects in ignition coil

Eicher Motors-owned Royal Enfield announced that it will recall around 2,36,966 motorcycles across several models due to defects in the ignition coil. The defects could cause misfiring, and in rare cases, an electric short circuit. The recall will apply to Meteor, Classic, and Bullet model motorcycles sold in India, Thailand, Indonesia, Philippines, Australia, New Zealand, and Malaysia. The defect was discovered during routine internal testing.

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Endurance Tech Q4 Results: Net profit rises 75% YoY to Rs 187.4 crore

Endurance Technologies reported a 75.42% YoY increase in consolidated net profit to Rs 187.4 crore for the quarter ended March (Q4). Net profit has declined by 1.4% when compared to the previous quarter. Its sales revenues rose 33.58% YoY to Rs 2,132.90 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit has declined by 8% YoY to Rs 519.7 crore. The company’s board has recommended a dividend of Rs 6 per share. Endurance Technologies is a leading manufacturer of automotive components in India.

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Happiest Minds partners with Coca Cola Bottling Company to drive robotic automation journey

Happiest Minds Technologies said it has successfully executed a digital transformation project for Coca Cola Bottling Company United. The order is for streamlining Coca Cola United’s order management with robotic process automation (RPA) in Microsoft Power Automate. The new, simplified process allows orders from all channels, such as inbound and outbound call center agents, field service sales representatives at customer sites, and via a customer self-service portal.

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Dr Reddy’s in talks with RDIF on Sputnik V for other countries

Dr Reddys Laboratories is in discussions with the Russian Direct Investment Fund (RDIF) for acquiring rights of Covid-19 vaccine Sputnik V for more countries. Recently, Dr Reddy’s and Apollo Hospital announced that they have kicked off the first phase of vaccinations with Sputnik V in Hyderabad and Visakhapatnam. The pharma company plans to supply Sputnik V to the Indian government only when local production begins around July.

Read more here.

Tags adani green energy, Anupam Rasayan India, beml, eicher motors, endurance technologies, Happiest Minds, heritage foods, indian oil corp, jk tyre

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Adani Ports’ Net Profit Jumps 285% YoY in Q4 – Top Indian Market News

Post author By marketfeed Team
Post date May 4, 2021

Adani Ports Q4 Results: Net profit jumps 285% YoY to Rs 1,288 crore

Adani Ports & Special Economic Zone Ltd (APSEZ) reported a 285% year-on-year (YoY) jump in net profit to Rs 1,288 crore for the quarter ended March (Q4). Its revenue rose 24% YoY to Rs 3,608 crore during the same period. Total cargo volumes handled by the company rose 27% YoY to 73 million metric tonnes (MMT) in Q4. For the financial year ended March 31, 2021 (FY21), net profit has increased by 32.7% YoY to Rs 4,994 crore. APSEZ’s board has recommended a dividend of Rs 5 per share.

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IPL 2021 suspended after multiple cases of Covid-19 reported in bio-bubbles

The Indian Premier League (IPL) 2021 has been postponed indefinitely after multiple positive cases of Covid-19 were reported within its bio-bubbles. A total of 29 out of the scheduled 56 league games were played this season. As per reports, the BCCI stands to lose over Rs 2,000 crore of the broadcast and sponsorship money earmarked for this year’s IPL.

Read more here.

HAL signs MoU with Rolls-Royce for MT30 marine engine installation in India

Hindustan Aeronautics Ltd (HAL) and UK-based Rolls-Royce have signed a Memorandum of Understanding (MoU) to establish packaging, installation, marketing, and services support for Rolls-Royce MT30 marine engines in India. The MT30 is the world’s most power-dense, best-in-class naval gas turbine. It has the potential to provide next-generation capabilities to the Indian Navy’s future fleet. This partnership will leverage the rich experience of HAL’s Industrial and Marine Gas Turbine (IMGT) Division that works on marine gas turbines with Indian shipyards.

Read more here.

RBL Bank Q4 Results: Net profit falls 34% YoY to Rs 75 crore

RBL Bank reported a 34% YoY decline in net profit to Rs 75 crore for the quarter ended March (Q4). Net interest income (NII) has declined by 11% YoY to Rs 906 crore during the same period. [NII is the interest income a bank receives on assets such as loans, and the interest it pays to depositors] The gross non-performing assets (GNPAs) ratio stood at 4.37%, compared with 4.57% in the preceding quarter (Q3 FY21). RBL Bank’s deposits increased by 26% YoY to Rs 73,121 crore in Q4 FY21.

Read more here.

Wipro to set up Innovation Centre in London; to invest £16 million

Wipro Limited has announced the setting up of an Innovation Centre in Holborn, London. The IT services company will invest £16 million (~Rs 164 crore) over the next four years in the 20,000 sq ft. centre. The Innovation Centre will serve as Wipro’s flagship centre in the United Kingdom and offer digital, cybersecurity, and cloud expertise to enterprises around the globe.

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Alembic Pharma Q4 Results: Net profit rises 12% YoY to Rs 251 crore

Alembic Pharmaceuticals Ltd reported a 12% YoY increase in consolidated net profit to Rs 251 crore for the quarter ended March (Q4). Its revenue from operations rose 6% YoY to Rs 1,280 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit has jumped 42% YoY to Rs 1,178 crore. Its Indian branded formulations business grew 5% YoY to Rs 1,497 crore in FY21. The pharma company’s board has recommended a dividend of Rs 14 per share.

Read more here.

HCL Tech engages in multi-year contract with Hitachi ABB Power Grids

HCL Technologies Ltd has entered into a multi-year contract with Hitachi ABB Power Grids to build a new greenfield digital foundation as part of a global transformation program. HCL Tech will help Hitachi ABB Power Grids to establish a new, efficient, and independent IT organisation. By leveraging HCL’s Cloud Smart offerings, Hitachi ABB Power Grids will benefit from an adaptive portfolio with innovative cloud services driven by intelligent automation and a powerful partner ecosystem.

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Bajaj Healthcare launches Favipiravir tablets to treat mild-to-moderate Covid-19 cases

Bajaj Healthcare Limited (BHL) has announced the launch of antiviral drug Favipiravir, used for treating mild to moderate Covid-19 infections in India. The tablets will be sold under the ‘Favijaj’ brand. The pharma company has successfully developed the Active Pharmaceutical Ingredient (API) and the formulation for Favipiravir through its own in-house research and development (R&D) team. The drug will be available as a prescription-based medication.

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Anupam Rasayan to invest Rs 43 crore to set up a 12.5 MW solar power plant

Anupam Rasayan India Ltd said it will invest Rs 43 crore to set up a 12.5 megawatt (MW) solar power plant. The company will utilise the proceeds from its IPO to fund this project. The proposed solar power plant will cater to the energy requirements of Anupam Rasayan’s major manufacturing units. The specialty chemicals company currently operates six manufacturing facilities in Gujarat.

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Suven Life Sciences Q4 Results: Net loss at Rs 21.6 crore

Suven Life Sciences Ltd reported a consolidated net loss of Rs 21.6 crore for the quarter ended March (Q4 FY21). It had posted a net loss of Rs 25.74 crore in the corresponding period last year (Q4 FY20). Total income declined by 75.3% YoY to Rs 2.88 crore in Q4 FY21. For the financial year ended March 31, 2021 (FY21), consolidated net loss stands at Rs 72.45 crore.

Read more here.

Adani Total Gas Q4 Results: Net profit rises 18% YoY to Rs 143 crore

Adani Total Gas Limited (ATGL) reported an 18.38% YoY increase in net profit to Rs 143.73 crore for the quarter ended March (Q4). Its revenue from operations rose 26% YoY to Rs 584.48 crore during the same period. The number of ATGL’s standalone CNG stations increased to 217 in Q4, with 102 stations being added in FY21. For the financial year ended March 31, 2021 (FY21), net profit rose 6% YoY to Rs 462 crore.

Read more here.

L&T Infotech Q4 Results: Net profit rises 27% YoY to Rs 545 crore

L&T Infotech Limited reported a 27% YoY increase in consolidated net profit to Rs 545 crore for the quarter ended March (Q4). On a quarterly basis, net profit has increased by 5%. Its revenue from operations rose 9.42% YoY to Rs 3,372.4 crore during the same period. The company’s board has declared a final dividend of Rs 25 per share.

Tags adani ports, adani total gas, alembic pharma, anupa, Anupam Rasayan India, HAL, RBL Bank, wipro

Market News Top 10 News

Zomato to Raise Rs 8,250 crore via IPO – Top Indian Market News

Post author By marketfeed Team
Post date April 28, 2021

Zomato to raise Rs 8,250 crore via IPO

Foodtech platform Zomato has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI, proposing an initial public offering (IPO) of Rs 8,250 crore. The IPO will consist of a fresh issue of equity shares worth Rs 7,500 crore and an offer for sale (OFS) of Rs 750 crore by promoter Info Edge. Zomato plans to use the proceed from the IPO towards funding growth initiatives and for general corporate purposes.

Read more here.

SBI board approves raising $2 billion through bonds

The Board of Directors of State Bank of India (SBI) has approved raising up to $2 billion (~Rs 14,895 crore) through bonds. The funds are to be raised through a public offer and/or private placement of senior unsecured notes in US Dollars or any other convertible currency during FY 2021-22. In January, SBI had concluded the raising of $600 (~Rs 4,500 crore) from bonds to fund the expansion of its overseas business.

Read more here.

Bajaj Finserv Q4 Results: Net profit jumps five-fold to Rs 979 crore

Bajaj Finserv Limited reported a five-fold YoY jump in net profit to Rs 979 crore for the quarter ended March (Q4). Revenue from operations rose 16% YoY to Rs 15,387 crore during the same period. Its life insurance business registered a 515.8% YoY growth in profit to Rs 234 crore, and Bajaj Finance Ltd’s net profit increased by 42% YoY to Rs 1,347 crore in Q4. For the financial year ended March 31, 2021 (FY21), net profit has grown by 32.7% YoY to Rs 4,470.46 crore. The company’s board has declared a final dividend of Rs 3 per share.

Read more here.

LT Foods partners with Humankind Group to develop commercial-scale biomass plants

LT Foods Limited has entered into a partnership with US-based Humankind Group (HKG) to explore an opportunity to develop commercial-scale biomass plants. The plants would help recycle rice paddy straw into green energy and bio-fertilizer in India under its Environment Sustainability Program. LT Foods and HKG plan to advance the partnership and facilitate the local ownership of the first commercial-scale biomass facility.

Read more here.

Hathway Cable Q4 Results: Net profit rises 47% YoY to Rs 72 crore

Hathway Cable & Datacom Ltd reported a 47.68% YoY increase in consolidated net profit to Rs 72.04 crore for the quarter ended March (Q4). Its revenue from operations declined 3.72% YoY to Rs 438.71 crore during the same period. For the financial year ended March 31, 2021 (FY21), net profit has jumped 143.64% YoY to Rs 252.73 crore.

On April 27, the sovereign wealth fund of the Government of Singapore bought 1.6 crore shares of Hathway Cable & Datacom for Rs 22.22 per share through a bulk deal on the NSE.

Read more here.

Morepen Labs’ board approves $100 million investment by Corinth Group

The Board of Directors of Morepen Laboratories Ltd has approved an investment of $32.50 million from Switzerland-based Corinth Group, as part of the private investment firm’s proposed $100 million (~Rs 745 crore) investment in the Morepen Group. The balance $67.50 million will be invested in promoter group companies. Corinth would be allotted 5.85 crore new equity shares on a preferential basis. The investment is subject to the approval of shareholders and other regulatory bodies.

Read more here.

Anupam Rasayan secures order worth Rs 1,100 crore for supply of specialty chemicals

Anupam Rasayan India Ltd has received a Letter of Intent from one of the top 10 multinational life sciences companies for supplying specialty chemicals. The total value of the order is Rs 1,100 crore. The company will provide multiple products from the ‘life sciences related specialty chemicals’ category to the multinational firm for the next five years.

Read more here.

KPIT Technologies Q4 Results: Net profit rises 23% YoY to Rs 47 crore

KPIT Technologies Ltd reported a 23.6% YoY increase in net profit to Rs 47 crore for the quarter ended March (Q4). On a quarterly basis, net profit has grown by 9.3%. Revenue from operations declined 3.8% YoY to Rs 546.6 crore during the same period. For the financial year ended March 31, 2021, net profit has declined 4.20% YoY to Rs 140.43 crore. The company said that revenue growth momentum will continue in the current financial year (FY22). KPIT Technologies is an IT services company based in Pune.

Read more here.

PowerGrid InvIT IPO to open for subscription tomorrow

The Rs 7,735 crore initial public offering (IPO) of PowerGrid Infrastructure Investment Trust (InvIT) will open for subscription tomorrow (April 29). The price band of the IPO has been fixed at Rs 99-100 per unit. The offer comprises a fresh issue of Rs 4,993.48 crore and an offer for sale (OFS) of Rs 2,741.51 crore. This will be the first InvIT IPO to be launched by a state-owned company.

Read more here.

Sundaram Clayton Q4 Results: Net profit declines 17% QoQ to Rs 167 crore

Sundaram Clayton Ltd reported a 17.4% quarter-on-quarter (QoQ) decline in net profit to Rs 167.16 crore for the quarter ended March (Q4). On a yearly basis, net profit has jumped 18-fold (or 1,714%). Revenue from operations rose 0.85% QoQ to Rs 6,451.09 crore during the same period. The company posted sharp growth across its auto components, auto vehicles & parts, and financial services segments.

Read more here.

Tata Communications Q4 Results: Net profit at Rs 299 crore

Tata Communications Ltd reported a net profit of Rs 299.2 crore for the quarter ended March (Q4). It had posted a net loss of Rs 275 crore in the corresponding quarter last year (Q4 FY20). Revenue from operations declined 7.38% YoY to Rs 4,073.25 crore in Q4 FY21. Tata Communications’ payment solutions vertical declined 40% YoY, while the voice solutions vertical posted a 30% fall in revenues.

Tags Anupam Rasayan India, bajaj finserv, hathway cable, kpit tech, LT Foods, morepen labs, powergrid invit, SBI, sundaram clayton, zomato ipo

Editorial

Anupam Rasayan India IPO: All you need to know

Post author By marketfeed Team
Post date March 12, 2021

It seems that the companies are in a race to launch their IPOs this year. Without wasting any time, let’s jump into the analysis of another IPO which is going to hit on 12th March 2021. That too, another speciality chemicals company.

About the company

Anupam Rasayan India Limited was incorporated in 1984. It deals in the custom synthesis and manufacturing of speciality chemicals in India. They have two business verticals. Firstly, speciality chemicals related to life science.

These products belong to the agrochemicals, personal care and pharmaceuticals domain. 95% of its revenues come from these three sectors. Mr Anand S Desai, Dr Kiran C Patel, Ms Mona A Desai, Kiran Pallavi Investments LLC and Rehash Industrial and Resins Chemicals Private Limited are the promoters of the company.

Currently, Anupam Rasayan holds six manufacturing units. Four of the units are based at sites Sachin, Surat and two of the units are in Jhagadia, Gujarat. The total capacity of the six manufacturing sites is 23,438 MT. They have a diversified customer base across countries like the United States, Europe, Japan, and India. Their long-term vision is to develop into a globally reputed chemical manufacturing company.

Most of the business operations of the company are export-oriented. Thus, the proximity of their manufacturing sites to Adani Hazira Port gives them an edge by reducing logistics costs. Almost 70% of the revenue for the company comes from international markets.

About the IPO

The IPO of Anupam Rasayan India Limited will open on 12th March 2021 and will close on 16th March 2021. The total issue size of the IPO is Rs 760 crore. The price band of the IPO is Rs 553 – Rs 555 per equity share. You have to apply for a minimum of 27 Shares which is one lot.

The upper limit to the number of lots you can apply for is 13, which means, 351 shares. The minimum an investor has to pay for this IPO of Anupam Rasayan is Rs 14,985. Similarly, the maximum one can invest in is Rs 1,94,805. Currently, the promoters of the company have 75.80% of the total holdings. The allotment date and listing date for the IPO are 19th Match 2021 and 24th March 2021 respectively.

Anupam Rasayan India Limited plans to use the net proceeds from the IPO in two ways. Their main aim behind going public is to repay their debt which comes with a huge interest cost. A large part of the proceeds will be used to pay off Rs 556.20 crore of debt. As of December 20, Anupam Rasayan India had a total debt of Rs 814.48 crore. The remaining sum will be used to meet general corporate purposes.

Financial Overview

*	30 December 2020	31 March 2020	31 March 2019	31 March 2018
Total Assets	1,919.21	1,664.06	1,322.50	1,001.20
Total Revenue	563.16	539.38	520.96	349.18
Profit after Tax	48.09	52.97	50.20	40.34

(Values in Rs Crore)

After looking at the table, one can easily see that the company has robust financial books in the previous three years. Total assets, revenues and profits, all three of them have continuously increased over the past three years. And, this pattern looks set to continue for this fiscal year as well. In fact, they have taken only three quarters of this year to beat the total assets and revenue numbers of FY20. The profits numbers are also very close and look almost certain to record better than what was last year.

In FY18, the company had a negative cash flow of Rs 20 crore but next year it jumped to the positive Rs 38 crore. In FY20, it skyrocketed to Rs 94 crore. From FY18 to FY20, the EBITDA margin of the company has shown a significant increase from 21% to 25%. One thing to notice is their falling return to equity (ROE). In FY18, FY19 and FY20, Anupam Rasayan recorded an ROE of 11.78%, 10.21% and 9.62% respectively. A falling ROE is a worrying sign for every investor.

Risk Factors

Anupam Rasayan has a diverse range of multinational companies. Any inability to maintain the relationships with these MNCs could have an adverse effect on their business. By the end of September 2020, they manufactured products for over 45 companies out of which 15 were MNCs.
Any disruption caused to their manufacturing plants will severely affect their operations and delay the making and delivery of their products.
Some of the raw materials used by the company are corrosive and flammable. They require special storage and handling. Any error in this part can increase their cost which will eventually hurt the bottom line of the financial books.
Revenues generated from sales to their top 10 customers accounted for 86.65% which is very high. A loss of one or more such customers can lead to huge losses for the company.
Anupam Rasayan doesn’t have long-term agreements with its suppliers. Thus, an increase in raw material due to any reason can severely hamper companies operations.

IPO Details in a Nutshell

IPO Date	March 12, 2021 – March 16, 2021
Issue Type	Book Built Issue IPO
Face Value	Rs 10 per equity share
IPO Price	Rs 553 to Rs 555 per equity share
Lot Size	27 Shares
Issue Size	Rs 760 crore
Listing At	BSE, NSE
IPO Listing Date	March 24, 2021

Conclusion

In the current market, almost every IPO is proving to be a jackpot for investors. Almost every IPO is providing a few lucky ones with bumper listing gains. Anupam Rasayan might follow the same trend. Though, should you hold it for the long term? I would say it will be better to analyse how the company performs in the next few quarters.

Their performance will tell us more if we should be a long-term investor or not. As this IPO gives you four days to apply, you should be patient to see how much attraction it is getting in those days. Once you see it being oversubscribed, quickly apply for one lot and hope to get a bumper listing.

Do your own analysis about the company and let us know in the comments section if you find any other interesting information. Anupam Rasayan filed its draft papers last December. You can find it here. Will you be applying for this IPO? Tell us in the comments section below!

Tags Anupam Rasayan India, Anupam Rasayan India IPO, Editorial, Initial Public Offer, Stock market