Tata Motors-backed JLR recorded £5.0 billion revenue in Q1
Tue, Jul 27, 2021 12:49 PM

Tata Motors-backed JLR recorded £5.0 billion revenue in Q1

Tata Motors-led Jaguar Land Rover posted revenue of £5.0 billion in Q1'FY22, 73.7% higher than Q1'FY21. The figures reflected a 72.6% YoY growth in wholesales to 84,442 vehicles. However, this was 30,000 units lower than planned due to semiconductor supply constraints. The production constraint resulted in a pre-tax loss of £110 million with an EBIT margin of (0.9)%.

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Glenmark Life Sciences public issue completely subscribed on Day 1
Tue, Jul 27, 2021 12:41 PM

Glenmark Life Sciences public issue completely subscribed on Day 1

Glenmark Life Sciences public issue witnessed robust bidding on day 1 and it was fully subscribed in the noon trade. The IPO was subscribed 1.16 times (so far). The retail portion of the public offering was subscribed 2.24 times. While the portion reserved for non-institutional investors subscribed 0.18 times. The IPO opens for subscription today and the offer will close on July 29.

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Rico Auto hits new 52-week high as board nods to three subsidiaries' merger
Tue, Jul 27, 2021 12:34 PM

Rico Auto hits new 52-week high as board nods to three subsidiaries' merger

Rico Auto Industries Board of Directors, on Monday, nodded to the merger of wholly-owned subsidiary companies. They include -- Rasa Autocom Limited (RASA), Rico Aluminium and Ferrous Auto Components Limited (RAFA), and Rico Investments Limited (RIL). Post this news, Rico Auto Industries Ltd stock hit a fresh 52-week high of Rs62.15 per piece during the intraday trade on Tuesday.

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Delta Corp casinos to remain shut as govt extends Covid curfew in Goa
Tue, Jul 27, 2021 12:18 PM

Delta Corp casinos to remain shut as govt extends Covid curfew in Goa

Delta Corp Ltd has informed the updates regarding the trading on its Goa operations due to the Covid curfew. The Government of Goa has incresae the restrictions imposed on May 3, 2021, on a weekly basis and has now further extended the restrictions in the state until August 2, 2021. The company mentions that the casinos will remain shut until further notice.

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Dr Reddy's Laboratories profit declines 1.5% to Rs 570.8 crore in Q1'FY22
Tue, Jul 27, 2021 12:03 PM

Dr Reddy's Laboratories profit declines 1.5% to Rs 570.8 crore in Q1'FY22

Dr Reddy's Laboratories announced a consolidated profit at Rs 570.8 crore for Q1'Fy22, a 1.5% drop from the year-ago period. Profit in Q1'FY21 stood at Rs 579.3 crore. Revenue from operations grew by 11.4% YoY to Rs 4,919.4 crore in Q1FY22. EBITDA fell 12.3% to Rs 1,019 crore and margin declined 560 bps to 20.7% compared to the corresponding period last fiscal.

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Alembic Pharma stocks decline post lower than expected Q1 results
Tue, Jul 27, 2021 11:55 AM

Alembic Pharma stocks decline post lower than expected Q1 results

Shares of Alembic Pharmaceuticals dived considerably on Tuesday after the pharma company announced a poor set of numbers in June 2021. The drug firm details a decline in its consolidated net profit for the quarter ended June 30, 2021, it said in a regulatory filing. The company had posted a profit in the same quarter the previous year.

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Prataap Snacks starts off its production at its new unit in Howrah
Tue, Jul 27, 2021 11:45 AM

Prataap Snacks starts off its production at its new unit in Howrah

Prataap Snacks Limited starts off its commercial production at its newly set up Unit at Mouza - New Kolorah, Police Station - Dornjur, District - Howrah, West Bengal from July 26, 2021. The Unit in Howrah has been set up for production of force out snacks, pellets, and other snacks with a capacity of about 6,000 MT per annum, the company said in a filing on Monday.

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📌Glenmark Life Sciences public issue subscribed 79% on day 1 (so far)
Tue, Jul 27, 2021 11:36 AM

📌Glenmark Life Sciences public issue subscribed 79% on day 1 (so far)

Glenmark Life Sciences' public issue witnessed 79% subscription on July 27 (until now), the first day of bidding. The offer has received bids for 1.18 crore equity shares against the IPO size of 1.5 crore equity shares, the subscription data available on exchanges showed. The IPO size has been reduced to 1.5 crore equity shares after the company garnered Rs 454 crore from anchor investors.

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Flipkart Pay Later logs 42M transactions on Flipkart
Tue, Jul 27, 2021 11:34 AM

Flipkart Pay Later logs 42M transactions on Flipkart

Flipkart, India’s handcrafted e-commerce marketplace, plans to enlarge its Flipkart Pay Later credit offering, targeting a 2X growth over the next six months. Currently, there are over 2.8 million customers who have embraced Flipkart Pay Later & have made more than 42 million transactions on the platform to date. It is expecting to cross the 100 M transaction benchmark by the end of the year.

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Devesh Sachdev becomes the new chairperson of MFIN
Tue, Jul 27, 2021 11:25 AM

Devesh Sachdev becomes the new chairperson of MFIN

Microfinance Institutions Network (MFIN), on 27 July, confirmed the election of Devesh Sachdev as its Chairperson. Sachdev succeeded Manoj Kumar Nambiar who served as the Chair of the Governing Board for the previous 2 years. MFIN also announced the induction of Udaya Kumar Hebbar, MD & CEO, CreditAccess Grameen and Amardeep Singh Sarma, MD & CEO of Midland Microfin, as board members.

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India Ratings revises IDBI Bank's Outlook to Stable; Asserts 'IND A'
Tue, Jul 27, 2021 11:22 AM

India Ratings revises IDBI Bank's Outlook to Stable; Asserts 'IND A'

India Ratings and Research (Ind-Ra) has amended IDBI Bank Limited’s (IDBI) Outlook to Stable from Negative while asserting the Long-Term Issuer Rating at ‘IND A’ and its Short-Term Issuer Rating at ‘IND A1’.The ratings on Basel III compliant bonds (Rs200cr), Omni infrastructure bonds (Rs800cr), Basel III compliant Tier II bonds (Rs300cr), and Senior debt Rs363.1cr has been declared stable.

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Trifecta Capital closes first tranche of $130 mn equity fund
Tue, Jul 27, 2021 11:05 AM

Trifecta Capital closes first tranche of $130 mn equity fund

Trifecta Capital reported the first close of its late-stage venture capital fund Trifecta Leaders Fund I raising $130 million with participation from domestic investors. The fund will invest in late-stage tech startups that are likely to seek liquidity outcomes in the next 1-3 years and has already made commitments to five companies. The idea is to invest $15-30 million each in around 10-12 firms.

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HDFC Bank acquires 5.55% stake in IBBIC
Tue, Jul 27, 2021 11:01 AM

HDFC Bank acquires 5.55% stake in IBBIC

HDFC Bank bought 50,000 Equity Shares of the face value of Rs10/- each fully paid up of IBBIC Pvt Ltd for Rs10 per equity share amounting to Rs5 lakhs, constituting 5.55% of the issued and paid-up capital of IBBIC. IBBIC was founded on May 25, 2021, to engage in the business of designing, building, implementing, and commercializing distributed ledger technology solutions.

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ShareChat garners $145 million from Temasek
Tue, Jul 27, 2021 10:56 AM

ShareChat garners $145 million from Temasek

Content-sharing platform ShareChat has generated $145 million in fresh funding from Singapore's Temasek Holdings and two other investors, giving it an estimate of $2.88 billion. The funding signals a growing fascination for content-sharing and short-video apps that have become popular ever since New Delhi last year banned ByteDance's TikTok and some other Chinese apps.

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Synergy Green receives approval for migration of Equity shares
Tue, Jul 27, 2021 10:44 AM

Synergy Green receives approval for migration of Equity shares

Synergy Green Industries Limited has informed that the Company has received consent from BSE Ltd. and National Stock Exchange of India Limited on July 26, 2021, for resettling of Equity shares of the Company from the BSE-SME platform to the main board of BSE Ltd. and National Stock Exchange of India Limited w.e.f. Wednesday, July 28, 2021.

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