Nykaa, and Paytm may get large-cap status on AMFI upgrade
In its latest classification of companies by market cap, the AMFI upgraded Policybazaar, Zomato, Nykaa, and Paytm, apart from 9 other stocks to the large-cap category. The others to be included in the large-cap category include Mindtree, SRF, IRCTC, Tata Power, Mphasis, Godrej Properties, Macrotech Developers, Bharat Electronics and JSW Energy. At the same time, 20 companies were lowered from large caps to mid-caps. This is likely to see some fresh inflows from the large-cap and diversified mutual funds in India.
Government Issues Norms To Recast Sugar Mills’ Loans, Gives 2 Year Moratorium
In a positive move for the sugar industry, the Government issued guidelines for restructuring loans taken by sugar mills; including a 2-year moratorium and repayment time of five years. This is subject to the sugar companies meeting basic criteria and pertain to loans taken from the sugar development fund (SDF). The total outstanding default is Rs.3,100 crore. The rate of interest will be the prevailing bank rate on the date of approval of rehabilitation package. This is likely to help in substantial reduction of debt burden for mills.
Greaves Cotton was up 11% at Rs.171 supported by heavy volumes
The stock of Greaves Cotton was up 11% at Rs.171 supported by heavy volumes. Greaves Electric Mobility plans to double its production capacity to cater to the growing EV demand in India. Greaves is a leading manufacturer of eco-friendly 2 and 3-wheelers and had sold over 10,000 units in Dec-21. Greaves Electric Mobility is currently working on a new array of products, including a high-speed electric scooter and an electric three-wheeler cargo vehicle. This will give them a strong hold on the last mile delivery space.
Tata Communications is another stock that has rallied sharply in the last few days
Tata Communications is another stock that has rallied sharply in the last few days and recently touched an all-time high price of Rs.1,542. On 31-December, the stock was added to F&O. The rally in the stock intensified after Tata Communications won a deal from Zain KSA to fuel digital transformation of private and government organisations in the Kingdom of Saudi Arabia (KSA). Tata Communications will provide KSA with sophisticated technologies like IOT, 5G, Managed Security Services, SDWAN and many others.
Delhivery, the digital logistics company that is planning to launch its mega IPO soon
Delhivery, the digital logistics company that is planning to launch its mega IPO soon, invested in Falcon Autotech, a logistics automation solutions provider. The synergy will come in the form of future-ready hardware solutions. Falcon provides logistics automation, sortation systems and warehousing systems. For Delhivery, this would mean greater speed, precision, and efficiency in service delivery. Delhivery runs 20 automated sortation centres, 124 gateways and 83 fulfilment centres providing integrated logistics.
Now, Subscribe us on our YouTube channel for a plethora of Informative videos!