Profitsheets

 Airline and hotel stocks were under pressure on November 26 on worries over a new coronavirus variant that has been detected in South Africa. The stocks fell 3-6 percent in the morning trade on fears that the new strain could be vaccine-resistant. The new variant also spooked the market, which was flashing red in the morning trade. At 10.12 am, the Sensex and Nifty were trading 1.6 percent low at 57,870.31 and 17,255.85. The airline and hotel stocks were among the worst hit when the outbreak began as travel came to a standstill with countries imposing curbs to prevent the spread. The stocks recovered after restrictions were eased on the back of speedy vaccination but the new variant could put pressure on the travel industry. The World Health Organization (WHO) is to hold a special meeting on November 26 to discuss the new strain, officials said. Also Read :  IndiGo’s Q2 results: Loss widens 20% to RS 1,435 Cr on rising crude oil Identified as B.1.1.529, the variant is a conce...

Indian Metals & Ferro Alloys share price was up 3 percent intraday at RS 814.10 intraday on November 26 after the company's board approved a bonus share issue. The board of directors of Indian Metals & Ferro Alloys at their meeting held on November 26, 2021, approved the issue of bonus equity shares in the ratio of one new equity bonus share of RS 10 each for every one existing shares of RS 10 each held by the shareholders on the record date, subject to shareholders' apporval. The company has fixed January 10, 2022 as the record date for ascertaining the eligibility of shareholders entitled to bonus shares. Also Read :  Ratnamani Metals share gains 4% on bags of Rs 98 crore order The board also approved an increase in the authorized share capital of the company from RS 38,75,00,000 to RS  63,50,00,000. At 11.57 am, Indian Metals & Ferro Alloys was quoting at RS 796.55, up RS 9.30, or 1.18 percent, on the BSE. The share touched a 52-week high of RS 997 on August 2, ...

  Indiabulls Housing Finance share price surged over 11 percent in the afternoon session on November 26. The stock has been on the radar after Brickwork Ratings India revised its outlook to ‘stable’ from ‘negative’. The stock was trading at RS 252, up RS 25.45, or 11.23 percent at 12:31 hours. It has touched an intraday high of RS 252.90 and an intraday low of RS 224.05. It was trading with volumes of 2,596,018 shares, compared to its five-day average of 1,271,943 shares, an increase of 104.10 percent. In a regulatory filing, Indiabulls Housing Finance announced that the credit rating agency has reaffirmed its long-term rating at ‘BWR AA+’. The housing finance company’s perpetual debt rating has also been reaffirmed at ‘BWR AA’. Brickwork noted that comfortable capitalization levels, established market position, strong liquidity position, minimal slippage and healthy collections have contributed to a revised rating for Indiabulls Housing Finance. Also Read :  ICRA upgrades Ind...

Shares of Tarsons Products listed at a premium of 5.74% to the issue price today, marking a tepid listing amid a crash in benchmark indices. The Indian life sciences firm made its market debut at RS 700 per share (up 5.74 per cent) on the Bombay Stock Exchange (BSE) against the IPO issue price of RS 662.  Market cap of the firm rose to RS 4,211 crore. Total 1.31 lakh shares of the firm changed hands amounting to a turnover of RS 9.16 crore on the BSE. Price band of the IPO was fixed at RS 635 to RS 662 per share. On NSE, the shares debuted at RS 682, up 3.02 per cent. Market cap of the firm rose to RS 4,121 crore. Total 48.30 lakh shares of the firm changed hands on NSE. The initial public offering (IPO ) was open from November 15 to November 17. The Shares of Tarsons Products IPO was subscribed 77.49 times on the final day of bidding. The share sale received bids for 84.02 crore equity shares against an offer size of 1.08 crore shares. Also Read :  Tarsons Products IPO share ...

  Stocks In the News: Check out the companies ITC, Hindustan Unilever, Tarsons Products and others making the biggest headlines before the opening bell. ITC, Hindustan Unilever in focus: Prices of select items including soaps and detergents have been hiked by Hindustan Unilever Ltd (HUL) and ITC Ltd - two of the country's leading fast moving consumer goods (FMCG) companies - citing the surge in input costs, CNBC TV 18 reported. Tarsons Products : The company will make its debut on the bourses on November 26. The issue price has been fixed at RS 662 per share. Aro Granite Industries : Lodha Chanchal Devi acquired 2 lakh equity shares in the company at RS 74.16 per share on the NSE, the bulk deals data showed. Godrej Properties: The company has bought land measuring approximately 16 acres at Sarjapur, Bengaluru with project estimated to have a developable potential of approximately 1.5 million square feet. GTL : Punjab National Bank sold 9,62,872 equity shares in the company at ...

  MG Motor’s India has collaborated with CleanMax to become the first passenger car company to adopt wind-solar hybrid energy, a statement said on Thursday. Under the collaboration, Clean Max Enviro Energy Solutions (CleanMax) will supply 4.85 MW of wind-solar hybrid power to MG Motor’s manufacturing facility in Halol. "With this partnership, MG Motor’s will abate approximately 2 lakh MT of CO2 over 15 years which is equal to planting more than 13 lakh trees," the statement said. Also Read :  MG Motor India reports 28% rise in retail sales in September The carmaker has been at the forefront of promoting EV adoption in India with the launch of India’s first Pure Electric Internet SUV MG ZS EV, it stated. CleanMax is the first renewable energy company to set up a wind-solar hybrid power park in Gujarat to sell clean energy to private consumers and corporates. It plans to expand to 150 MW by 2022. MG’s Halol facility is expected to begin drawing power in February 2022 from C...

  Oppo on Thursday announced that it has successfully conducted its first VoNR (Voice/Video on New Radio) call from its Hyderabad 5G lab. The 5G VoNR (Voice/Video on New Radio) calls were made using the latest Reno 6 series smartphone and an end-to-end 5G Standalone(SA) network powered by Keysight test solutions at the Hyderabad 5G Innovation lab of Oppo. "The VoNR call from our Hyderabad-based 5G lab is another milestone in Oppo's innovation journey. As the 5G pioneer in India, the team is making great strides to explore the true potential of 5G technology and bring a better 5G experience to Indian consumers," Tasleem Arif, Vice President, India R&D Head, Oppo India, said in a statement. Also Read :  Oppo Reno 7, Vivo S12 series is set to unveiled by November end The 5G VoNR achievement was completed emulating 5G core network, 5G RAN and an IMS server using the Keysight E7515B UXM 5G wireless test platform, a highly integrated signalling test platform supporting the ...