Centre to buy 1 crore shots of Zydus Cadila’s Covid-19 vaccine

The Central government has placed a purchase order of 1 crore doses of Zydus Cadila’s three-dose Covid vaccine ZyCoV-D at Rs 265 per dose. The needle-free vaccine will cost Rs 93 per dose (excluding GST). The complete dose of the vaccine will cost Rs 1,128. ZyCoV-D was approved by India’s drug regulator in August 2021 for emergency use in adults and children aged 12 years and above.

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Britannia Industries Q2 Results: Net profit falls 23% YoY to Rs 384 crore

Britannia Industries Ltd reported a 23% YoY decline in consolidated net profit to Rs 384.22 crore for the quarter ended September (Q2 FY22). Its revenue from operations rose 5.5% YoY to Rs 3,607.4 crore during the same period. The FMCG company’s raw material cost stood at Rs 1,914.7 crore in Q2, an increase of 8% YoY. Britannia said it is witnessing unprecedented inflation in market prices of key ingredients such as palm oil, industrial fuel, and packaging material.

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JBM Auto secures order for 200 low-floor electric buses from Delhi govt

JBM Auto Limited has received an order for 200 electric buses from Delhi Transport Corporation (DTC). The order has been placed under the central government’s FAME II electric vehicle policy. The company will supply, operate and maintain 200 air-conditioned fully built low-floor electric buses of 12-meter length. Gurgaon-based JBM Auto is a leading manufacturer of key auto systems, electric vehicles, and buses.

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Sobha Q2 Results: Net profit jumps 198% YoY to Rs 48 crore

Sobha Ltd reported a 198% YoY jump in consolidated net profit to Rs 48.3 crore for the quarter ended September (Q2 FY22). Net profit jumped 347% compared to the previous quarter. Its total income rose 52% YoY to Rs 832.3 crore during the same period. The realty firm’s board has approved the issue of unlisted, secured, non-convertible debentures (NCDs) worth up to Rs 140 crore on a private placement basis.

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L&T’s construction arm secures orders worth up to Rs 2,500 crore

Larsen & Toubro’s (L&T) construction arm has secured significant orders (in the range of Rs 1,000-2,500 crore) from the metal industry and Defence Research & Development Organisation (DRDO). The order from DRDO consists of constructing a flight control system facility at Aeronautical Development Establishment, Bengaluru. L&T has also received an engineering, procurement, and construction (EPC) order for a 12 million ton per annum (MTPA) dry circuit system for a screening plant (SP-III) from NMDC Limited in Chhattisgarh.

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Shyam Metalics Q2 Results: Net profit jumps 159% YoY to Rs 414 crore

Shyam Metalics & Energy Ltd (SMEL) reported a 159.22% YoY jump in consolidated net profit to Rs 414.18 crore for the quarter ended September (Q2 FY22). Net profit fell 9% compared to the previous quarter. Its revenue from operations rose 87% YoY to Rs 2,494.34 crore during the same period. EBITDA stood at Rs 689 crore in Q2, an increase of 96% YoY. SMEL is a leading integrated metal producing company in India.

Exchanges to launch T+1 settlement cycle from Feb 25

The National Stock Exchange (NSE) and other Market Infrastructure Institutions (MIIs) are bracing to launch T+1 trading settlement cycle from February 25, 2022. All listed stocks across stock exchanges (BSE, NSE & MSEI) will be ranked in descending order based on daily market capitalization averaged for the month of October 2021.

Currently, if an investor buys or sells a stock on Monday, they receive the money or shares on Wednesday (T+2 working days). With T+1 settlement, the transfer will be completed on Tuesday itself. You can learn more about T+1 settlement cycle here.

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Balrampur Chini Mills Q2 Results: Net profit rises 6% YoY to Rs 83 crore

Balrampur Chini Mills Ltd reported a 6.1% YoY increase in consolidated net profit to Rs 83.1 crore for the quarter ended September (Q2 FY22). Its revenue from operations fell 5.9% YoY to Rs 1,213.8 crore during the same period. EBITDA stood at Rs 134.8 crore in Q2, an increase of 5.6% YoY.

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DCM Shriram to invest over Rs 350 crore on expansion of sugar business

DCM Shriram Ltd has announced an investment of over Rs 350 crore to expand the capacity of its sugar mills. The company approved three investment proposals for its sugar business to capitalise on the increase in sugarcane availability in its catchment area. These investments will help enhance production capacity for refined sugar production and build flexibility of feedstock for its distilleries.

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Paytm IPO subscribed 18% on first day of bidding

The Rs 18,300 crore initial public offering (IPO) of One97 Communications Ltd (Paytm) was subscribed 18% on the first day of bidding. The IPO has received bids for 88.23 lakh equity shares against the issue size of 4.83 crore shares. Retail investors have subscribed 78% against their reserved portion. Non Institutional investors (NIIs) and Qualified Institutional Buyers (QIBs) have subscribed 2% and 6%, respectively, against their reserved portions. 

To learn more about the IPO, click here.

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