9:38 AM
Wockhardt climbs 3% on QIP issue
>> The company has initiated a Qualified Institutional Placement (QIP) to raise funds, setting the floor price at Rs 544.02 per share
9:36 AM
Govt appoints NBCC as project mgt consultant; stock rises 5%
>> It has been selected by the govt to provide project management consultant services for construction of chancery-cum-residential complex at CGI, Jeddah.
9:34 AM
RVNL advances 3% on emerging lowest bidder for a railway project
>> The company has emerged as the lowest bidder for a railway project worth Rs 167 crore for Southeastern Railway.
9:32 AM
Torrent Power to acquire Solapur Transmission Plant; stock holds gains
>> The company will acquire Solapur Transmission for Rs 7 crore from PFC to establish a transmission system for the evacuation of power from renewable energy projects in Maharashtra.
9:29 AM
Avenue Supermarts rises 3% on CLSA’s ‘Buy’ call
>> Global brokerage CLSA has initiated coverage on Avenue Supermarts with ‘Buy’ rating and a target price of Rs 5.107
9:26 AM
TVS Motor gains around 1% on Board’s nod to issue preference shares
>> Its board has approved a scheme of arrangement between the company and its shareholders, where it will issue cumulative non-convertible redeemable preference shares of up to Rs 1,900 crore by way of bonus. The bonus ratio is 4 preference shares for every 1 equity share held as of record date.
9:23 AM
Wipro appoints Anne-Marie Rowland as Capco CEO; stock up 1.5%
>> Wipro has appointed Anne-Marie Rowland as Capco’s chief executive officer (CEO). Currently the managing partner of Capco’s business in the UK and Ireland, Rowland will take over as Capco’s CEO from April 1, 2024.
8:49 AM
Delivering her address at The Rising Bharat Summit 2024, Buch said that in a large part of any industry, product or service, there are many people who encourage someone to enter. However, the question one needs to ask is whether they have equal access and as much service when they wish to exit. Read more
Democratising equity market is all about digitisation, says Sebi chief Buch
Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch on Wednesday said that democratising the equity market is all about digitisation and enabling easy entry and exit for small investors.
Delivering her address at The Rising Bharat Summit 2024, Buch said that in a large part of any industry, product or service, there are many people who encourage someone to enter. However, the question one needs to ask is whether they have equal access and as much service when they wish to exit. Read more
8:47 AM
Rubber price rise, demand woes could lead to derating of tyre companies
The margins of tyre manufacturers could come under pressure given the rise in rubber prices and the moderating demand for tyres.
In the past three quarters, the revenue growth for listed tyre companies has moderated from low to mid-single-digit on account of factors such as lower demand in replacement segments, weak export markets and the decline in the average selling prices to car makers (OEMs). Read more
