Share Market News and Buzz: The Ultimate Blog for Stock Market News and Tips

NTPC’s Stock Forecast: A Powerful Leap to INR 300 Introduction NTPC Ltd., India’s largest power utility, has been a key player in the country’s power sector. With an installed capacity of 73,824 MW, including joint ventures, NTPC has ambitious plans to become a 130 GW company by 2032. The company’s current market price (CMP) stands at INR 240, and ICICI Securities has recommended a target price of INR 300 for the next 12 months. NTPC Company Overview Established in 1975, NTPC Ltd., formerly known as National Thermal Power Corporation Limited, is engaged in generating electricity and allied services. It is a public sector undertaking with the Government of India holding 51.10% of its equity shares. The company’s market capitalisation was INR 230,732.17 Cr as of September 22, 2023. NTPC Financial Performance NTPC has shown a promising financial performance over the years. The company reported a Consolidated Total Income of Rs 33783...

Welspun Corp: Subsidiary Sintex signs MoU with Telangana to set up a manufacturing unit in the state with upto Rs 350 crore investment Introduction Welspun Corp, one of the leading manufacturers of large diameter pipes in the world, has announced that its subsidiary Sintex a/s has signed a memorandum of understanding (MoU) with the government of Telangana to set up a manufacturing unit in the state with an investment of upto Rs 350 crore. The MoU was signed on September 23, 2023, in the presence of the Chief Minister of Telangana and other dignitaries. About Sintex a/s Sintex a/s is a Danish company that specializes in powder metallurgy, a process of making metal parts from powdered metal using high pressure and heat. Sintex a/s produces components for various industries such as automotive, aerospace, medical, energy and industrial applications. Sintex a/s is a part of the Welspun Group, which acquired it in 2017. Project Details According to the MoU, Sintex a/s will establ...

Vishnu Prakash R Punglia Ltd receives LOA for order worth Rs. 634.41 crores Vishnu Prakash R Punglia Ltd (VPRPL), one of India’s fastest-growing Infrastructure Development Companies, has recently achieved a significant milestone. The company has received a Letter of Award (LOA) for an order worth Rs. 634.41 crores. This news has made waves in the industry, marking a new chapter in VPRPL’s journey of infrastructure development. A Brief Overview of VPRPL Established in 1986, VPRPL has been dedicated to customer satisfaction and trustworthiness. The company transitioned from a partnership firm to a Joint Stock Company under Chapter IX of the companies act 1956 in April 2013. With its headquarters in Mumbai, Maharashtra, VPRPL has been maintaining a legacy of innovation in engineering designs and construction. The company’s principal business operations are Infrastructure Development Works on EPC mode, including their operation and maint...

Tata Motors and Indian Oil Corporation: Pioneering Hydrogen Fuel Cell Technology in India Tata Motors, one of India’s leading automobile manufacturers, has made a significant stride in the field of sustainable mobility by delivering two hydrogen fuel cell (FCEV) buses to the Indian Oil Corporation (IOC). These buses, powered by 70 KW hydrogen fuel cell technology, mark a significant milestone in India’s journey towards clean and green transportation. The Emergence of Hydrogen Fuel Cell Technology Hydrogen fuel cell technology is emerging as a promising solution for sustainable transportation. Unlike conventional vehicles that run on gasoline or diesel, fuel cell vehicles combine hydrogen and oxygen to produce electricity, which runs a motor. Since they only emit water vapor and warm air, they are considered zero-emission vehicles. Tata Motors’ Foray into Hydrogen Fuel Cell Technology Tata Motors has been at the forefront of introducin...

Shyam Metalics: Leading the Charge in India’s Energy Storage Sector with Aluminium Foil Innovation Shyam Metalics & Energy Limited, a leading integrated metal producer based in Kolkata, has made a significant announcement that marks its entry into the energy storage sector. The company is gearing up to produce battery-grade aluminium foil, a critical component in lithium-ion cells. This move aligns with the government’s AatmaNirbhar Bharat initiative, positioning Shyam Metalics as one of the first large-scale domestic contributors to this sector. The Role of Aluminium Foil in Lithium-Ion Cells Aluminium foils serve as current collectors in lithium-ion batteries. They are preferred for their lower specific gravity, lower electrical resistivity, and higher heat conductivity. Recent advances in rolling and alloy manufacturing technologies have enabled the production of uniformly thick, high-strength battery aluminium foil. For the p...

IEX Divests 4.93% Stake in IGX to Indian Oil Corporation: A Strategic Move The Indian Energy Exchange (IEX), India’s premier energy exchange, has announced the divestment of a 4.93% equity stake in the Indian Gas Exchange (IGX) to the Indian Oil Corporation. This strategic move marks a significant milestone in the evolution of India’s energy sector. The Stakeholders The IEX and the National Stock Exchange (NSE) are the promoters of IGX, a gas exchange platform established to promote gas trading in India. The platform has attracted strategic investments from several key players in the energy sector, including GAIL (India) Ltd, ONGC Ltd, Torrent Gas Pvt Ltd, and Adani Total Gas Ltd. The divestment of the 4.93% equity stake by IEX to Indian Oil Corporation is a strategic move that is expected to strengthen IGX’s position in the market. As India’s largest oil refining and fuel marketing firm, Indian Oil Corporation brings significant ex...

Ircon International Gains 2.30% on Stock Market After Securing Rs 122 Crore Contract with Sri Lanka Railways Ircon International, a public sector construction company, has recently made headlines with its latest venture. The company has secured a contract worth approximately Rs 122 crore with Sri Lanka Railways. This contract marks a significant step in Ircon International’s journey towards becoming a global leader in infrastructure projects. A New Chapter in Sri Lanka’s Railway Infrastructure On 21st September 2023, Ircon International announced that it had executed a contract agreement with Sri Lanka Railways. The contract involves the design, installation, testing, commissioning, and certification of signalling and telecommunication systems from Maho Junction to Anuradhapura. This project is part of the Indian Line of Credit and is expected to be completed within 24 months from the date of signing. Ircon International: A Diversifi...

DeltaCorp: A GST Notice of Rs 11,139 Crore DeltaCorp, India’s largest casino operator, has recently been served with a Goods and Services Tax (GST) notice amounting to a staggering Rs 11,139 crore. This development has sent shockwaves through the industry and has raised several questions about the taxation policies related to the gaming and casino sector in India. In this blog post, we delve into the details of this notice and its implications for DeltaCorp and the wider casino industry. DeltaCorp: An Overview DeltaCorp Limited, previously known as Arrow Webtex Ltd, is the only listed Indian gaming and hospitality company that owns and operates casinos and hotels. The company’s major portfolio of assets, which includes offshore casinos and hospitality services, falls under the banner of Deltin Casinos & Hotels. DeltaCorp operates in three segments: Casino Gaming, Online Skill Gaming, and Hospitality. The GST Notice ...

Mishtann Foods: How a Leading FMCG Player is Going Green with Ethanol Plant in Gujarat Mishtann Foods, a leading FMCG player in the agro-product sector, has recently signed a memorandum of understanding (MoU) with the Gujarat government for setting up an ethanol plant in the state. The project, which is expected to cost Rs 2,250 crore, will be located in Dalpur village of Sabarkantha district and will have a capacity of 500 kilolitres per day. The plant will use corn and other agricultural residues as feedstock to produce ethanol, which can be blended with petrol and diesel to reduce carbon emissions and dependence on fossil fuels. What is ethanol and why is it important? Ethanol is a renewable and eco-friendly fuel that has several benefits for the environment, the economy and the consumers. According to the Alternative Fuels Data Center, ethanol helps reduce greenhouse gas emissions by 40% to 1...

Navigating the High Seas: NALCO’s Profit Decline Amidst Strong Sales in FY23 National Aluminium Company Ltd (NALCO), one of India’s leading aluminium companies, has reported a decline in profits despite strong sales in the fiscal year 2022-23. The company’s sales amounted to Rs 14,171 crore, with a net profit of Rs 1,544 crore. During this period, NALCO achieved an export turnover of Rs 4,217 crore. A Look Back: Record Sales and Profits In contrast, the previous financial year 2021-22 saw NALCO achieving its highest-ever sales of Rs 14,181 crore and a record net profit of Rs 2,952 crore. These figures were revealed during the company’s 42nd annual general meeting held in virtual mode on Thursday, where the annual accounts for 2022-23 were approved. The Challenges: Higher Input Costs and Volatility Despite the growth on various fronts in FY 2022-23, NALCO’s profit margins have been affected due to higher input costs, business environment ...

KPI Green Energy Soars 2.23% on Securing Wind-Solar Hybrid Power Project from Ayana Renewable Power KPI Green Energy, a leading name in the renewable energy sector, has recently seen a significant rally of 2.23%, bringing its share price to Rs 831.50. This surge comes on the heels of the company receiving a letter of intent (LoI) from Ayana Renewable Power Four for a wind-solar hybrid power project. A Glimpse into the Future: The Wind-Solar Hybrid Power Project The order includes a 145.20 MW wind-solar hybrid power project, which comprises 145.20 MW wind and 50 MW solar. This project will be located in Gujarat, one of India’s most industrially advanced states. It falls under KPI Green Energy’s ‘captive power producer (CPP)’ business segment. The Role of KPI Green Energy KPI Green Energy will be responsible for providing a range of services, including engineering, procurement, construction, and commissioning (EPCC). This entails tasks suc...

Apollo Tyres Strike: A Bumpy Ride in the Stock Market Apollo Tyres, a leading tyre manufacturing company, is currently facing a challenging situation due to an employee strike at its Limda plant in Gujarat. The strike has led to a halt in the production of Bias and OTR tyres at the facility. Apollo Tyres, is currently trading at Rs 378 per share. Over the past 52 weeks, the company’s share price has seen significant fluctuations, reaching a high of Rs 440 and a low of Rs 262. This volatility in the share price reflects the dynamic nature of the stock market and the various factors influencing Apollo Tyres’ performance. The root cause of this strike lies in the discontent among the employees over the renewal of a long-term settlement agreement Apollo Tyre Current Scenario  The company is currently facing a challenging situation due to an employee strike at its Limda plant located in the Baroda area of Gujarat. The strike has been tr...

Union Bank of India: A Five-Day Bull Run with a 2.63% Boost   Union Bank of India was established on November 11, 1919, with its headquarters in Mumbai. It was promoted by Seth Sitaram Poddar. The bank’s corporate office in Mumbai was inaugurated by Mahatma Gandhi in 1921. In 1969, Union Bank of India was nationalized by the Government of India. On April 1, 2020, Andhra Bank and Corporation Bank were amalgamated into Union Bank of India.   Union Bank of India, a constituent of the Nifty Pharma index, is making headlines with its impressive performance in the stock market. The bank’s stock has been on an upward trajectory for five consecutive sessions, reflecting a robust growth trend. As of 12:44 IST, the stock is trading at Rs 101.5 on the National Stock Exchange (NSE), marking a 2.63% increase on the day. This surge is particularly noteworthy given that the benchmark NIFTY is down by around 0.89%, quoted at 19953.15. Similarly, the Sensex stands at 66961.86,...

Bharat Dynamics’ Stock Market Surge: Impact of the Rs 290.90 Crore Order Bharat Dynamics, a prominent player in the defense sector, has recently made a significant stride in the stock market. The company has secured an order worth Rs 290.90 crore, marking a notable milestone in its journey. This article delves into the company’s performance in the stock market, its current position, return details, and the recent order received. A Glimpse into Bharat Dynamics Bharat Dynamics Limited (BDL) is a Miniratna Category-1 Public Sector Undertaking (PSU) under the Ministry of Defence, Government of India. The company specializes in manufacturing guided missiles and allied defense equipment. With a market cap of Rs 19,350.83 Crore, it stands as a midcap defense sector PSU. Performance in the Stock Market Bharat Dynamics has been actively trading in the stock market. On September 14, 2023, the company’s stock price was recorded at Rs 1,065.40. Desp...

NBCC (India) Secures Rs 150 Crore Contract from KVIC: A Leap Towards Progress NBCC (India), a renowned civil engineering construction services provider, has recently made headlines by securing a contract worth Rs.150 crore from the Khadi & Village Industries Commission (KVIC). This contract marks a significant milestone in the company’s journey, further solidifying its position in the industry. A Glimpse into the Contract The contract entails planning, designing, and execution of upcoming works such as construction of office buildings, residential campuses, redevelopment, repair & renovation of KVIC Properties Pan India. This project not only showcases NBCC (India)'s expertise in civil engineering construction services but also its commitment to contributing to the nation’s development. NBCC (India)'s Growth Trajectory Following the announcement of this contract, NBCC (India)'s shares advanced by 1.67% to Rs 59.68, re...

NMDC’s Strategic Price Revision Boosts Stock by 4.75% NMDC: An Overview NMDC, the National Mineral Development Corporation, is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under the administrative control of the Ministry of Steel. As of December 31, 2022, the Government of India held a significant 60.79% stake in the firm. The company is involved in the exploration of a range of minerals including iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands. However, NMDC is primarily known for being India’s single largest iron ore producer. At present, it produces about 35 million tonnes of iron ore from its three fully mechanized mines. Two of these mines are located in Chhattisgarh and one in Karnataka. The Strategic Price Revision On September 14, 2023...

Zaggle IPO: Revolutionizing Spend Management In the dynamic world of finance, one name that has been making headlines recently is Zaggle. Known for its innovative approach to spend management, Zaggle is all set to launch its Initial Public Offering (IPO). This event marks a significant milestone in the company’s journey, and the anticipation surrounding it is palpable. New IPO Alert! Zaggle Prepaid Ocean Services (Zaggle) is now open for subscription. The IPO, priced at Rs 156-164 per share, will close on September 18 A Leader in Spend Management Zaggle has established itself as a leading player in spend management. The company’s success can be attributed to its innovative solutions and commitment to customer satisfaction. As of March 31, 2023, Zaggle has issued over 50 million prepaid cards in partnership with banking partners, serving more than 2.27 million users . These impressive numbers reflect the company’s wide reach and populari...