Copper futures lose sheen amid muted demand
Wed, May 19, 2021 5:36 PM

Copper futures lose sheen amid muted demand

Copper futures on Wednesday declined 1.58% to Rs 771.50 per kg as participants cut their positions amid muted demand in the domestic market. On theMCX, copper contracts for the May delivery eased by Rs 12.35, or 1.58%, to Rs 771.50 per kg in a business turnover of 3,946 lots. Analysts said trimming of positions by speculators due to muted demand in the spot market.

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Crude oil prices decline 1% on weak spot demand
Wed, May 19, 2021 5:34 PM

Crude oil prices decline 1% on weak spot demand

Crude oil prices on Wednesday fell by Rs 50 to Rs 4,749 per barrel after the participants reduced their positions. On the MCX, crude oil for the June delivery dropped by Rs 50, or 1.04 per cent, to Rs 4,749 per barrel with a business volume of 4,403 lots. Analysts said the fall in crude oil futures was mostly due to the trimming of positions by traders amid weak spot demand.

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IDBI Trusteeship Services invokes pledged shares of Coffee Day Enterprises
Wed, May 19, 2021 5:21 PM

IDBI Trusteeship Services invokes pledged shares of Coffee Day Enterprises

IDBI Trusteeship Services, on behalf of Marina Hari (IV) Pte Ltd and Standard Chartered Private Equity (Mauritius) II, has invoked 2.30% equity shares pledged of debt-ridden Coffee Day Enterprises for an estimated sum of Rs 14.66 crore. The shares were sold on May 17, 2021, and, based on the weighted average price of the stock at Rs 30.14 apiece.

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BEML launches mechanical minefield marking equipment for Indian Army
Wed, May 19, 2021 5:16 PM

BEML launches mechanical minefield marking equipment for Indian Army

BEML Limited launched the first prototype of Mechanical Minefield Marking Equipment Mk-II, built on BEML TATRA 6x6 an ‘Atmanirbhar’ product, developed through TOT from R&DE Engineers, DRDO. BEML signed LAToT during the ‘Bandhan’ event in presence of Hon’ble Raksha Mantri during DEFEXPO 2020 and is executing the project by partnering with a number of MSMEs.

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Sintex Industries factory at Gujarat suffers severe damage due to Tauktae
Wed, May 19, 2021 5:08 PM

Sintex Industries factory at Gujarat suffers severe damage due to Tauktae

Sintex Industries Limited reported that there is severe damage to its factory plant situated at Taluka Jafarabad, Lunsapur, Amreli, Gujarat due to Cyclone Tauktae on May 17, 2021, and May 18, 2021. The expected quantum of loss/damage due to Cyclone Tauktae and estimated impact on the production/operations is under the process of determination.

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Shiba Inu holder earns $6.5 million from tokens bought for $17
Wed, May 19, 2021 4:58 PM

Shiba Inu holder earns $6.5 million from tokens bought for $17

A cryptocurrency enthusiast who bought 200 billion tokens of the meme currency Shiba Inu (SHIB) in October 2020 for $17, is now the owner of $6.5 million worth of tokens. With the rapidly increasing crypto craze in the country, several people are jumping on the crypto bandwagon. SHIB, the self-proclaimed "dogecoin killer" was created in August 2020 by someone who uses the name Ryoshi.

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IndusInd Bank MD considering to sell some ESOP shares to settle loans
Wed, May 19, 2021 4:54 PM

IndusInd Bank MD considering to sell some ESOP shares to settle loans

IndusInd Bank MD and CEO Sumant Kathpalia is considering selling some of his shares in the private sector lender to settle loans and vesting of upcoming ESOP, the bank said on Wednesday. Kathpalia plans to sell some shares of IndusInd Bank held by him through the exercise of the previous employee stock ownership plans (ESOPs), the bank announced in a regulatory filing.

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NBCC bags order worth Rs597cr to develop infrastructural facilities
Wed, May 19, 2021 4:52 PM

NBCC bags order worth Rs597cr to develop infrastructural facilities

NBCC (India) Limited secured the work order for Comprehensive design, engineering and project management consultancy (PMC) services for construction & development of infrastructural facilities in the main campus of the National Institute of Technology, Uttarakhand at Sumari (Pauri Garhwal). NBCC is the Project Management Consultant for this project of the value Rs596.75cr.

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Indo Rama Synthetics Q4 PAT increases to Rs128.20cr
Wed, May 19, 2021 4:46 PM

Indo Rama Synthetics Q4 PAT increases to Rs128.20cr

Indo Rama Synthetics (India) Limited’s Profit After Tax (PAT) registered a considerable improvement to Rs128.20cr in Q4FY21 and Rs112. 78cr in FY21 as against Loss after tax of (Rs49.84cr) in Q4FY20 and (Rs316.10cr) in FY20 respectively The company’s revenue for the fourth quarter ended March 31, 2021, stood at Rs821.89cr compared to Rs480.64cr in Q4FY20.

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TCS CEO Rajesh Gopinathan received Rs 20.36 cr pay package in FY21
Wed, May 19, 2021 4:43 PM

TCS CEO Rajesh Gopinathan received Rs 20.36 cr pay package in FY21

Tata Consultancy Services CEO and MD Rajesh Gopinathan earned a pay package of about Rs 20.36 crore in 2020-21, according to TCS annual report. In 2019-20, Gopinathan had received a total remuneration of Rs 13.3 crore. Gopinathan received Rs 1.27 crore in salary, Rs 2.09 crore in benefits, perquisites and allowances, and Rs 17 crore in commission.

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Happiest Minds partners Coca Cola United in their Robotic Automation plan
Wed, May 19, 2021 4:39 PM

Happiest Minds partners Coca Cola United in their Robotic Automation plan

Happiest Minds Technologies Limited announced it has successfully executed a digital transformation project for Coca Cola Bottling Company United for streamlining its order management with RPA in Microsoft Power Automate. Coca-Cola Bottling Company United collaborated with Happiest Minds to create a master automated service agent they have dubbed “Asa,” which consists of several bots.

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Mumbai secures bids to import 10 million Sputnik jabs at Rs 700cr
Wed, May 19, 2021 4:31 PM

Mumbai secures bids to import 10 million Sputnik jabs at Rs 700cr

Mumbai municipality received bids to import 10 million Sputnik vaccines. It is now expecting more proposals as authorities look to vaccinate every resident of the city over the next two months. Iqbal Singh Chahal, Municipal Commissioner of the municipality said in an interview that it is looking to spend about  7 billion rupees ( Rs 700 crores)  on the Sputnik sots.

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Kirloskar Electric restarts production at Govenahalli and Mysore units
Wed, May 19, 2021 4:24 PM

Kirloskar Electric restarts production at Govenahalli and Mysore units

Kirloskar Electric Company restarted operations at the production unit located at Govenahalli (unit-1) and Mysore (unit-5). In its regulatory filing, ṯhe company informed that in compliance with the guidelines issued by the Government of Karnataka, the operations at the Company’s manufacturing unit located at Govenahalli (unit-1) and Mysore (unit-5) are being resumed.

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Carriers search hard for 75 missing ONGC workers after Cyclone Tauktae
Wed, May 19, 2021 4:15 PM

Carriers search hard for 75 missing ONGC workers after Cyclone Tauktae

With each passing hour, concerns over the safety of around 75 missing workers present at Oil and Natural Gas Corporation's (ONGC) accommodation Barge, 'Papaa 305' (P-305), is taking a serious turn. Of the total of 261 present on the Barge, around 186 have been rescued so far. Cyclone Tauktae is considered to be the most severe storm in the last five decades.

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Royal Enfield to recall 236,966 motorcycles
Wed, May 19, 2021 4:10 PM

Royal Enfield to recall 236,966 motorcycles

Eicher Motors-owned Royal Enfield announced on Wednesday it will recall 236,966 motorcycles across some models due to defects in the ignition coil that can cause misfiring and reduce the vehicle's performance. The recall will apply to Meteor, Classic, and Bullet model motorcycles sold in India, Thailand, Indonesia, Philippines, Australia, New Zealand and Malaysia.

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