Contents
Tata Motors turns net debt free in FY24; shares recover 2.5% from lowsALERT:: IRM Energy informs resignation of EVP; stock trades flatGopal Snacks zooms on new product launch; stock falls 17% from issue priceTata Chemicals share price jumps 3% after ANSAC raises soda ash pricesDomestic passenger vehicle sales rise 4% in May to 347,492 units: SIAMThis infra stock has zoomed over 100% in 1 year; Elara sees more upsideRepco Home shares drop over 2% on CFO resignation; up 28% in 3 monthsHyundai Motor India prepares for IPO filing, potential to raise $2.5 bnBlock deal: Mamaearth slides 5% after 6.6 mn shares change handsState-owned BPCL planning to set up new refinery worth Rs 50,000 croreJBM Auto rallies 4% on inking pact with MUON India for 2,000 electric busesALERT :: Tata Steel says it will continue with the announced closure of restructuring program at Port TalbotCBI searches PNC Infra offices, summons MD Yogesh Jain; stock slips 10%
1:32 PM
Tata Motors turns net debt free in FY24; shares recover 2.5% from lows
Automaker Tata Motors’ shares bounced 2.5 per cent from lows after the company said it has achieved net debt-free status for the financial year 2024 (FY2024). READ MORE
1:21 PM
ALERT:: IRM Energy informs resignation of EVP; stock trades flat
IRM Energy in an exchange filing today said, Manas Khaire has tendered his resignation from the position of Executive Vice President – CNG removal, death or otherwise Projects & O&M (Senior Management Personnel) of the company vide his letter dated June 10, 2024.
1:13 PM
Gopal Snacks zooms on new product launch; stock falls 17% from issue price
Shares of Gopal Snacks surged by 3.1 per cent at Rs 331.10 per share on the BSE in Tuesday’s intraday trade. The stock, however, has slipped 17.4 per cent from its issue price in the last three months. The FMCG company got listed on BSE and NSE on March 14, 2024. READ MORE
1:04 PM
Tata Chemicals share price jumps 3% after ANSAC raises soda ash prices
Shares of Tata Chemicals soared by 3.1 per cent at Rs 1,120 per share on the BSE in Tuesday’s intraday trade. This came after a US based distributor American Natural Soda Ash Corporation (ANSAC) hiked prices of soda ash. Soda ash is a key product for Tata Chemicals. READ MORE
12:53 PM
Domestic passenger vehicle sales rise 4% in May to 347,492 units: SIAM
Passenger vehicle wholesales in India increased 4 per cent year-on-year in May to 347,492 units, as compared to the same month last year, industry body SIAM said on Tuesday. READ MORE
12:42 PM
This infra stock has zoomed over 100% in 1 year; Elara sees more upside
Hindustan Construction Company rallied 15% to Rs 45.62 amid heavy volumes as Elara Capital initiated coverage on the stock with a ‘Buy’ rating. READ MORE
12:18 PM
Repco Home shares drop over 2% on CFO resignation; up 28% in 3 months
The fall came after the company announced that K Lakshmi tendered her resignation as chief financial officer (CFO). READ MORE
12:09 PM
Hyundai Motor India prepares for IPO filing, potential to raise $2.5 bn
Hyundai Motor India IPO: Indian unit of the Korean automaker is expected to file a DRHP with Sebi within the next two weeks. READ MORE
11:55 AM
Block deal: Mamaearth slides 5% after 6.6 mn shares change hands
Shares of Honasa Consumer, parent company of Mamaearth dropped by 4.8 per cent at Rs 435.05 per share on the BSE in Tuesday’s early morning trades. READ MORE
11:41 AM
State-owned BPCL planning to set up new refinery worth Rs 50,000 crore
The state-run oil marketing company will invest around Rs 50,000 crore in the project and is currently assessing locations in three states – Andhra Pradesh, Uttar Pradesh, and Gujarat. READ MORE
11:28 AM
JBM Auto rallies 4% on inking pact with MUON India for 2,000 electric buses
Macquarie Group has rolled out ‘Vertelo,’ an EV financing platform in India, offering financing, fleet management, and charging infrastructure solution READ MORE
11:14 AM
ALERT :: Tata Steel says it will continue with the announced closure of restructuring program at Port Talbot
>> The current heavy end assets of Port Talbot are nearing their end of life, are operationally unstable and are resulting in unsustainable financial losses.
>> The coke ovens, a critical facility for primary steelmaking, had to be closed in March 2024, as operations became infeasible and unsafe.
>> Therefore, the Company is compelled to continue with its plans to decommission Blast Furnace #5 at the end of June, followed by decommissioning of Blast Furnace #4 by the end of September.
>> The downstream assets will continue to service customers by utilising imported semi-finished steel till the new EAF is built and commissioned.
11:00 AM
CBI searches PNC Infra offices, summons MD Yogesh Jain; stock slips 10%
The media reports indicate that CBI caught two National Highways Authority of India (NHAI) officials accepting bribe of Rs 10 lakh from PNC employees in Madhya Pradesh to obtain final approval, no objection certificate (NOC), and for processing of final bill for NHAI’s Jhansi-Khajuraho project. READ MORE
