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Adani group's stocks have nosedived after the Hindenburg report's release Amid massive stock rout for almost a week in most of Adani group stocks, the National Stock Exchange (NSE) has put Adani Enterprises , Adani Ports and Ambuja Cements under additional surveillance measure (ASM) framework effective February 3, 2023 to curb short-selling. NSE, in its circular released on February 2, noted that applicable rate of margin shall be 50 percent or existing margin, whichever is higher, subject to maximum rate of margin capped at 100 percent w.e.f. February 6, 2023 on all open positions as on February 3 and new positions created from February 6. The ASM list is a list of securities that get monitored due to factors like price fluctuation, volatility, volume variance, etc. Stocks that are shortlisted for inclusion on the ASM list serve as a warning to investors about unusual price movement. There are certain trading restrictions on these stocks to put an end to any potential … [Read more...] about NSE puts Adani Enterprises, Adani Ports, Ambuja Cements under ASM framework amid stock rout

Much of the hope for a revival of India’s jute industry rests on bans on single-use plastics that dozens of countries, including India, have enacted in recent years (Representative Image) Sameer Yasir NADIA, India — When shoppers in places like America take a woven reusable bag to the store, they aren’t just saving the planet. They are reviving a storied industry thousands of miles away in India. Jute, a coarse fibre used to make fabrics like burlap, has been cultivated for centuries in the warm and humid climate of the Ganges Delta. Some of India’s jute factories have been in operation for more than a century, and today the country is the world’s largest producer. But in recent decades, the industry has struggled as less expensive synthetic substitutes have flooded the market. Farmers turned to other crops, cheap labour moved elsewhere and mills deteriorated from lack of investment. Now, though, what had been jute’s weakness is its potential strength. As much of the … [Read more...] about That reusable Trader Joe’s bag? It’s rescuing an Indian industry

PHUKET: Officers at Phuket International Airport have been asked to target people carrying large amounts of undisclosed cash in the ongoing battle to crack down on transnational crime. The request comes from Glenn Tankard of the Australian Federal Police (AFP). Mr Tankard was in Phuket early this month in his role as head of the Thai Transnational Crime Coordination Network (TCCN) central office in Bangkok. “Immigration at the airport should look out for suspicious people, such as those who do not declare that they are carrying US$10,000 or more,” said Mr Tankard. “Excess, undeclared money is a standard indicator that someone is involved in money laundering, which only arises from other crimes… This is something very small that immigration can pick up that could paint a bigger picture of a possible criminal network.” Related news Phuket police bust Nigerian overstayers 22 hours ago Reasons Why You Should Live in Kamala Phuket feat. Twin Palms … [Read more...] about Anything to declare? Airport officials asked to target bags of undisclosed cash

Key Adani group stocks, led by flagship Adani Enterprises, rebounded on February 3 on likely covering of positions by short sellers. There were unconfirmed reports that the beleaguered group managed to get fund commitments from some Middle East investors. But most stocks from the Adani stable remained under pressure, with as many as six hitting the lower end of the intra-day circuit filter. At the close, Adani stocks had shed $111 billion in market capitalisation in eight trading sessions since Hindenburg Research published a scathing report on the group’s governance practices. This contrasted with the upbeat mood in the market as the benchmark indices rose over 1 percent on February 3. Adani Enterprises ended 1.4 percent higher over its previous close at Rs 1,586.80, after almost slipping into three digits earlier. Theoretically, those who bought the stock at the day’s low of Rs 1,017.45 and still holding it would have made an over 50 percent profit. However, the outlook … [Read more...] about Select Adani stocks rebound as bears cover, but Street still wary

Adani Group chairman Gautam Adani Touting February 3, 2023, as an eventful day might be an understatement for the Adani Group. A stunning recovery from the worst-ever intraday fall in Adani Enterprises' stock to Finance Minister Nirmala Sitharaman's first comments on the entire Hindenburg-Adani fiasco , there was a lot of action. After falling 35 percent intraday, Adani Enterprises closed in the red on NSE – down 2 percent – while on BSE it was over a percent higher. Adani Ports closed 5 percent higher on the NSE at Rs 488.40 after falling to Rs 395 intraday. ACC and Ambuja Cements gained 5 percent and 4 percent, respectively. Meanwhile, Adani Total Gas and Adani Wilmar ended at a 5 percent lower circuit. Here's a recap of all that happened, starting from pre-market developments ASM Framework Read More Pre-market open, the big news was National Stock Exchange (NSE) placing Adani Enterprises, Adani Ports and Ambuja Cements under an additional … [Read more...] about Adai Group stocks: A recap of everything that happened on February 3

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Reported Standalone quarterly numbers for Ind Cement Cap are: Net Sales at Rs 0.87 crore in December 2022 up 125.29% from Rs. 0.39 crore in December 2021. Quarterly Net Profit at Rs. 0.12 crore in December 2022 up 3236.11% from Rs. 0.00 crore in December 2021. EBITDA stands at Rs. 0.15 crore in December 2022 up 650% from Rs. 0.02 crore in December 2021. Ind Cap EPS has increased to Rs. 0.05 in December 2022 from Rs. 0.00 in December 2021. Read More Ind Cap shares closed at 10.05 on February 02, 2023 (BSE) and has given 17.27% returns over the last 6 months and -8.88% over the last 12 months. Ind Cement Cap Standalone Quarterly Results in Rs. Cr. Dec'22 Sep'22 Dec'21 Net Sales/Income from operations 0.87 1.02 … [Read more...] about Ind Cap Standalone December 2022 Net Sales at Rs 0.87 crore, up 125.29% Y-o-Y

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Reported Consolidated quarterly numbers for Ind Cement Cap are: Net Sales at Rs 1.08 crore in December 2022 up 53.58% from Rs. 0.70 crore in December 2021. Quarterly Net Profit at Rs. 0.11 crore in December 2022 up 54.82% from Rs. 0.07 crore in December 2021. EBITDA stands at Rs. 0.15 crore in December 2022 down 65.91% from Rs. 0.44 crore in December 2021. Ind Cap EPS has increased to Rs. 0.05 in December 2022 from Rs. 0.03 in December 2021. Read More Ind Cap shares closed at 10.05 on February 02, 2023 (BSE) and has given 17.27% returns over the last 6 months and -8.88% over the last 12 months. Ind Cement Cap Consolidated Quarterly Results in Rs. Cr. Dec'22 Sep'22 Dec'21 Net Sales/Income from operations 1.08 … [Read more...] about Ind Cap Consolidated December 2022 Net Sales at Rs 1.08 crore, up 53.58% Y-o-Y

The Union Budget will boost the order pipeline for the infrastructure sector, but the pace of implementation and execution of the big-bang capital expenditure plan announced by the Finance Minister Nirmala Sitharaman on February 1 will be key to success, said R Shankar Raman, chief financial officer of Larsen & Toubro Limited (L&T). Some ongoing issues in the infrastructure sector, like dispute resolution and pace of ordering, need to be addressed to help the industry accelerate growth, Raman told Moneycontrol’s Rachita Prasad. Raman also spoke about the opportunities and risks and how L&T is preparing for 2022-23. Pushing project execution, managing people and closing the divestment of its non-core assets is on the top of the agenda for the engineering giant. Edited excerpts: The Union Budget made a big commitment to capex . What is your key takeaway for the infrastructure sector? The Rs 7.5 lakh crore is generous. The good part of the allocation is … [Read more...] about Interview | Budget plan implementation, faster dispute mechanism key to infrastructure growth: L&T CFO

The Union Budget 2023 strikes the right balance between growth and fiscal prudence. It has given consumption a big boost, putting more cash in the hands of individuals and shows commitment to clean energy and manufacturing while continuing its focus on agriculture, MSMEs, urban infrastructure and tourism. Stock gainers Beneficiaries of capex push Banks stands to benefit from Budget 2023 -24. Capex spend has been increased steeply and is almost double of pre-pandemic level which will boost credit growth. At the same time, adherence to medium-term fiscal consolidation (5.9% fiscal deficit target for FY24) and gross and net borrowing numbers in line with Street expectations will not exert pressure on yields/interest rates. ICICI Bank and SBI will be clear beneficiaries of capex driven credit growth. Larsen & Toubro which derives majority revenues from core engineering and construction business would benefit from in capex which was increased for third year in a … [Read more...] about Meet the key winners and losers from Budget 2023

We remain positive on the long-term investment thesis of SRF as it has transformed significantly in the last few years in terms of business mix, growth visibility, market share gains and project execution. (Rrepresentative image) PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Highlights Mixed numbers in Q3FY23; strong growth for chemicals Chemicals margin improvement offset by softness in other segments Packaging and technical textile businesses to remain subdued in near term Elevated capex budget with new announcements for agrochemicals Fair valuation SRF’s (CMP: Rs 2,201; Market cap: Rs 65,251 crore) Q3FY23 performance was a mixed bag, with the strong show in chemicals blunted by demand softness in other segments. The key area of growth was agrochemicals, which were equally supported … [Read more...] about SRF: Agrochemical opportunity offsets weakness in other areas