NTPC shares witnessed a volume boost of 600% after the news broke that the state-owned largest power producer in the nation, has plans to build new units at old plant sites. The Indian government wants to move away from modernisation of old plants and encourage investment in brand new and efficient capacity. Piyush Goyal, Union Power Minister said earlier this week, The Indian government did not favour modernisation because the plants are not efficient. He further added that they should shift to supercritical and ult
Mastek has announced the results for the FY17 Q1. The company recorded a drop of 19.18 per cent in its net profit at Rs 3.58 crore for the quarter ended June 30, 2016 as compared to Rs 4.4 crore for the quarter ended June 30, 2015. The total income of the Company has declined by 2.47 per cent at Rs.130 crore for the quarter against Rs 133.3 crore in the same quarter of the previous year. The Board of Directors of the Company has approved the following business:
MUMBAI:Control of two subsidiaries of Amtek Auto is being taken up by the banks as they defaulted on bond repayment last year. Amtek Auto share price has had a negative impact by the news, said market analysts. Lenders have agreed on generic terms to take control of two listed subsidiaries of auto component maker, Metalyst Forging and Castex Technologies. At a recent meeting held in Mumbai, banks led by IDBI Bank have agreed on generic terms to convert a part of their d
Syndicate Bank share price rises by about 1.24% as the Bank today said it has raised Rs.930 crore by issuing Basel-III compliant bonds. The Bank had said in a regulatory filing that in respect of an invitation about series III, potential investors had placed bids forRs.1,800 crores. The bank decided to exercise the greenshoe option and retained the total amount of Rs.930 crore allotted on pro rate basis. Syndicate Bank had called the bids for an issue size of Rs. 500 crore w
BHEL share price follows the dipping trend of the market today, despite the news that the company has commissioned 250 MW lignite power plant in Gujarat. Bharat Heavy Electricals Limited has approved another 250 MW unit based on eco-friendly Circulating Fluidized Bed Combustion technology, using low-quality coal as the primary fuel. BHEL share price has dipped by 0.41% by mid-day session. <p
It was just two years ago when SpiceJet was fighting for survival as creditors backed off and oil companies denied to refuel its airliners. As of now, the world's biggest planemakers are wooing the recovering Indian budget carrier for a potential blockbuster order worth about $12 billion. Both Boeing and Airbus Group are engaged in a battle in order to provide SpiceJet with 100 planes, and both of them are ready to offer huge discounts in negotiations which have aggravated in the past few month
Commercial vehicles leader Ashok Leyland is keen to boost its presence in the African market and will establish its first assembly plant in that continent in Kenya. This has made Ashok Leyland share price get humbly bullish in the otherwise bearish market. CFO Gopal Mahadevan mentioned in an interview that they have incorporated the company in Kenya and are trying to get a local partner. They may even do it themselves. They are in the final stage of identifying the location, and the
TCS share price plunged as much as 3.20 percent on Friday despite the better-than-expected financial results for the quarter ended June 30, 2016. Financial report: During April-June, TCS reported the net profit of Rs 6,318 crore, against Rs ?5,773 crore of the last year. On a year-on-year basis, bottom line figures of TCS grew by 9.44 per cent. The reported profit was higher than what anal
Infosys share price was down by 9% in early morning trade at Rs. 1075.50 on BSE at 10.35 a.m. today. Infosys circulated a quarterly report card that fell well below expectations of the market. Infosys scaled down its full-year revenue guidance to 10.5-12 per cent in constant currency terms, disheartening investors who punished the Infosys stock in early morning trade as Europe's weak spending pulled down quarterly growth and put an end to the company's recent recovery over the last four quarters. In April, Infosys forecast revenue growth of
Biocon Limited is listed both in BSE and NSE. It is an Indian biopharmaceutical company, base being in Bangalore, India. Biocon produces generic active pharmaceutical ingredients which are sold in the markets of the United States and Europe. Apart from that it also manufactures biosimilar Insulin, sold in India as branded formulations, both in bulk and formulation forms. Biocon has two subsidiaries which are the clinical research organization named Clinigene and a custom research organization called Syngene. Biocon's presence extends to four
