Kaveri Seed hits 52-week low
Shares of Kaveri Seed Company extended decline and hit 52-week low at Rs399 on the BSE on Tuesday�s trade. The stock fell nearly 16% in past four sessions after the company reported a weak set of numbers in Q3FY19. The company�s net profit declined 32.8% to Rs3.65cr in the quarter ended December 2018 as against Rs5.4cr during the previous quarter ended December 2017. Its sales declined by 4.9% to Rs67.2cr in the quarter ended December 2018 as against Rs70.6cr during the previous quarter ended December 2017.
ABB wins Rs270cr order for train technologies from Indian Railways
ABB India has won its largest traction equipment order in India worth more than Rs270cr to supply electric locomotives from Diesel Locomotive Works (DLW), in Varanasi. The company made the announcement on Tuesday afternoon, during market hours. The converters will be custom designed for Indian Railways and will be manufactured at one of ABB�s largest factories for locomotive applications in Nelamangala, near Bengaluru, in Southern India. �ABB�s traction solution is based on the latest technology to bring more reliable trains to passengers, while increasing sustainable transport use by moving from diesel trains to electric. This helps rail operators to achieve significant operational improvements�, mentioned ABB in an exchange filing.
Tata Sons buys stake in Tata Motors
Tata Sons has bought 1.1.8cr shares of Tata Motors valued at Rs183cr from the open market, a regulatory filing has revealed. The Tata Group parent company bought the stake in Tata Motors after a weak third quarter performance from the latter�s UK subsidiary Jaguar Land Rover (JLR). Tata Motors reported its biggest-ever quarterly loss in Q3FY19, which led to a steep fall in its stock price. Tata Motors (TML) is currently facing several headwinds in its Britain-based luxury car brand JLR, which has dragged the consolidated entity�s performance and resulted in losses and strained cash flows. Standalone business has continued to perform well, however, its contribution to consolidated revenue is only 25%.
OMCs gain as Brent eases from 2019 highs
Shares of Oil Market Companies (OMCs) rose on Tuesday as prices of International Brent crude oil futures fell marginally from its 2019 highs amid global economic growth concerns. Accordingly, shares of Bharat Petroleum Corporation (BPCL) climbed 3%, while those of Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation rose 2% each. Crude oil prices dropped slightly on uncertainty regarding the US-China trade talks as well as longevity of supply outage in Saudi Arabia. Talks regarding the trade conflicts between the US and China are progressing, however, there has been no concrete announcement yet, while there is a possibility that the US may extend the March 01 deadline.
Financial Advisory Company in Indore, Stock Advisory Company in Indore, Equity Tips, FreeTrading Tips , MCX Tips, sebi registered advisory company, Intraday stock tips, Free commodity tips
0 comments:
Post a Comment