Daily Share Market News: RBL Bank, Delta corp, Voltas, Maruti suzuki

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  • Post last modified:30/12/2021

Sensex closed at 57,794 points, down 12 points, nifty closed at 17,204, points, down 9 points, and bank nifty closed at 35,063 points, up 18 points.

Top Gainers

CompanyPrice%Gain
NTPC1263.05
HCL Tech1,3171.95
Cipla9521.84
IndusInd Bank8851.77
Dr. Reddy’s4,9041.48

Top Losers

CompanyPrice%Loss
Bajaj Auto3,2001.89
Reliance2,3591.81
UPL7461.54
JSW Steel6451.54
Tata Steel1,1011.37

RBL Bank

Today morning mint shared a concerning update regarding RBL bank mentioning that ”usually when a bank gives any loan they try to recover the loan if they failed to recover the loan then the bank will write off the loan, but in case of RBL bank, a 300 crore loan was written off within seven months of the loan being sanctioned. If this is true then this is a serious concern for RBL Bank.

Maruti Suzuti

An update from ET now Regarding Maruti Suzuki.

  • Maruti suzuki started woking on its flex fuel engines ( flex fuel engine means which is desingned to run on more than one fuel).
  • Informed vendors bout developing the prototype vehicle soon.
  • Eyeing models in its small car segment to be fited with flex fuel engines.
  • Company will look to test and launch its first flex vehicle by next year.
  • Maruti suzuki to test the market with one model in the flex fuel version.
  • Currently average level of ethanol blending around 8 across the country.
  • Nitin Gadkari has advised car makers to launch flex fuel vehicles within 6 months.

Rama Steel Tubes

Rama Steel tubes have received an order worth 43.3 million rupees from Uttar Pradesh power corporation limited, the company is going to supply around 2500 electric poles and the company also mentioned that previously they also received orders for 7000 electric poles from Uttar Pradesh power corporation limited. Due to these orders, the Rama Steel Tubes Order book will strengthen further. Due to these updates from the company, the stock has rallied 10% in today’s session.

Glenmark

CNBC news anchor Yatin Mota tweeted mentioning to focus Glenmark stock, the reason for this is from the last few days COVID cases are increasing rapidly and yesterday reported nearly 5 lakh cases, and, UK, France reported nearly 2 lakh cases.

Regarding this Covid spread, doctors said they have not given oxygen or remdisevir to patients and recommending only FABIFLU with multivitamins, so if the sales of FABIFLU increase then it is a big positive for Glenmark as they are the one who manufactures FABIFLU.

Kalpataru Power

Kalpartaru power updated that they have received new orders worth 1516 crore rupees, the orders are from the power transmission business and countries like India, Africa, and South Africa. Due to this update, the stock has rallied more than 4%.

Nitin spinners

In today’s board meeting Nitin spinners board approved to invest 900 crore rupees for capacity expansion at the spinning unit.

Voltas

Redbox India update that the Highly group belongs to Shanghai plans to set up a joint venture with voltas in India for making compressors for air conditioners.

Bajaj Finance

Online used cars platform Cars24 has partnered with Bajaj finance, as a part of the partnership Baja finance will provide financing for customers who are buying cars from the Cars24 platform.

Deltacorp

Deltacopr stock has corrected more than 4 % in today’s session, the reason for this correction is, Due to increasing Omicron cases Goa government has announced some restrictions on Wednesday that Casinos, parks, and theaters will run with a maximum of 50% capacity and will not allow non-vaccinated people to enter into Goa.

Investec on BSE

Downgrade to sell, target price Rs 1720 on cyclically peak earnings & valuations expect a sequential decline in earnings in FY23e stock trades at a significant premium to global peers, most of which are market leaders in their respective markets, making current valuations untenable.

Granuels

Granules receive ANDA approval for AMPHETAMINE mixed salts (IR tablets) which have sales of over 2,100 crores in the US.

Paytm

Paytm has collaborated with SBI cards to enable cardholders to tokenized their cards on devices and make payments through Paytm.

IDFC First Bank

IDFC First bank plans to merge IDFC Ltd, IDFC financial with the company.

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