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Stock Market News- SC cancels RERA registration of Amrapali Group, Alphageo rises 4%

SC cancels RERA registration of Amrapali Group, NBCC to take over projects
The Supreme Court on Tuesday pronounced its verdict on the controversial Amrapali Group project. The court has canceled RERA registration of the Group. The court has also asked the National Buildings Construction Corporation (NBCC) to complete all the pending projects of Amrapali Group. 


Alphageo rises 4%: The company has received an initial contract for carrying out gravity, magnetic & resistivity survey for manganese ore in Rengali Block, Odisha with an estimated contract value of Rs 0.72 crore (exclusive of taxes) from The Mineral Exploration Corporation.

Jyothy Labs Q1: Consolidated net profit up 11.6% at Rs 37.4 crore versus Rs 33.5 crore, revenue up 2.2% at Rs 422.5 crore versus Rs 413.3 crore. EBITDA up 15.8% at Rs 65.6 crore and margin at 15.5%, YoY.

Rupee Update: The Indian rupee is trading lower by 9 paise at 69 per dollar on Tuesday against previous close 68.91.

VA Tech Wabag Surges -  After Order Win Shares of VA Tech Wabag rose as much as 5.9 percent to Rs 309. The secured an order worth Rs 1,187 crore from Bihar Urban Infrastructure Development Corporation 

Blue Star Resumes Decline - After One-Day Breather Shares of Blue Star resumed declines after a one-day breather. The stock fell as much as 1.5 percent to Rs 736.80. the scrip declined for seven trading sessions in the eight. The company won air conditioning and tunnel ventilation system order worth Rs 253 crore from Mumbai Metro Rail Corporation, according to its stock exchange filing.

Infosys Halts Three-Day Fall- Shares Hit Record High Shares of Infosys halted their three-day losing streak. The stock rose as much as 2.5 percent to hit an all-time high at Rs 804.25. The Relative Strength Index was above 70, indicating that the stock may be overbought, Bloomberg data showed. The stock advanced 18 percent in the past 12 months compared to a 3.8 percent gain in the Sensex.

Jyothy Labs Gains -  After Q1 Results Shares of Jyothy Labs rose as much as 2.4 percent to Rs 161 after the company announced its June quarter results.

NBCC Gains - After Supreme Court’s Verdict On Amrapali Project Shares of NBCC rose as much as 3.2 percent to Rs 52.35 after Supreme Court pronounced its verdict on Amrapali Project. Supreme Court ordered money laundering probe against Amrapali and appointed NBCC to complete projects undertaken by the company.

Mastek tanks 10% after net profit in June quarter dips 11% sequentially
Shares of Mastek slipped 10 percent to Rs 412 on the BSE in intra-day deals on Tuesday after the company reported 12 percent sequential decline in net profit at Rs 24 crore in its April-June quarter results for the financial year 2019-20 (Q1FY20) on Monday.

NEWS ALERT |

 SC directs NBCC to complete remaining projects of Amrapali Group: CNBC TV18
-- Homebuyers to the deposit outstanding amount
-- SC asks ED to probe Amrapali Ground fund diversion

CATCH-ALL MARKET UPDATES - 
  • PC Jeweller up 10%
  • SBI trades 0.9% lower
  • DCB Bank gains 1.12%
  • Apollo Tyres slips over 4%
  • Bank of Baroda trades 1.6% lower
  • Infosys gains 2%, hits a 52-week high
  • Coromandel International dips over 3%
  • Mahindra & Mahindra hit a new 52-week low
  • GlaxoSmithKline Pharma trades marginally higher
  • Talwalkars Health clubs gits 52-week low; slides 10%
  • Infosys gains over 2%, top gainers on S&P BSE Sensex
  • Delta Corp said promoter created pledge on 11 lakh shares on July 19.

SOURCE

Sensex | Amrapali Group | NBCC | Rupee | Bank Nifty | Infosys

Comments

  1. Sadhana s9 August 2020 at 18:19

    I have just started learning Value investing... Really its a great information. Thanks for sharing.
    Beekay Steel Industries Limited
    Beekay Niryat Limited
    Bedmutha Industries Limited
    BDH Industries Limited

    ReplyDelete
  2. Krithika15 June 2022 at 18:28

    RERA registration brings about transparency in these contracts and benefits all the parties to the transaction. It also brings about accountability by reducing the chances of delay in real estate contracts. The main aim of the registration is to protect buyers of real estate and simultaneously uplift the investment in the real estate sector.

    ReplyDelete

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