According to the notification, the penalty is for "alleged violation of terms and conditions with respect to subscriber verification norms, pursuant to Sample CAF Audit conducted by DoT for July, 2023."
The resolution reinforces Exide's rights to the Chloride mark in India, particularly for its electronic products such as uninterruptible power supply (UPS).
The company has said that it will respond to the warning letter within the stipulated timing and work closely with the US FDA to address the concerns.
The penalties have been levied for the tax periods spanning from April 2016 to March 2017 and April 2017 to March 2018.
The company had posted 16.7 percent fall in its September quarter net profit at Rs 79.6 crore against Rs 95.5 crore in the same quarter last year.
The technical charts indicate a bullish setup in the GMR Infra, Dabur India, and Dalmia Bharat counters.
The company will supply 40mtr towers with all the accessories with total 300 towers to be supplied in Jharkhand and Chhattisgarh.
According to Geojit, India's oilmeal exports in October rose 36% on year to 289,931 tn, according to data released by The Solvent Extractors' Association of India today.
Indian shares opened on a slightly muted note on Monday, with a focus on the global interest rate outlook after a more than 3% rally so far this month. Both the benchmarks have risen more than 3% so far in November, bolstered by expectations that the U.S. Federal Reserve will not hike rates. Experts expect the positive sentiment in the markets to sustain for the fourth consecutive week with focus on the US bond yields and oil prices and FII flows. Stocks to watch out for include TCS and other IT names, Aurobindo Pharma, Bharti Airtel, Cipla amongst others. Catch Nickey Mirchandani in discussion with Prashant Sawant, Founder- Catalyst Wealth and Amnish Aggarwal- Head Of Research, Prabhudas Lilladher.
Financial shares led the gains on November 20 as investors prepare for an eventual end to negative rates, while auto makers have been benefiting from a weak yen and high exports.
Coromandel International and Paradeep Phosphates have multiple value-accretive catalysts.
Indian equity market clocked one percent gains for third consecutive week ended November 17 despite RBI's decision to raise risk weights for unsecured loans impacted banking & financial stocks on Friday. This rally attributed to falling oil prices, and hopes for end to the rate hike cycle globally with declining inflation. Hence, experts expect the positive sentiment in the markets to sustain in the coming week too, with focus on US bond yields & oil prices, and advised continuing with buy on dips strategy. During the truncated week, the BSE Sensex climbed 535 points to 65,795, and the Nifty50 jumped 206 points to 19,732, while the Nifty Midcap 100 and Smallcap 100 indices gained 2 percent and 2.7 percent respectively. Most of sectors participated in the weekly run up, barring banking & financial services stocks. IT & realty were the biggest gainers, with Nifty IT and Nifty Realty each rallying over 5% for the week. Even the mid & smallcap indices ended the week with gains of nearly 3% apiece. This week Nifty bulls will be watching out for a retest of the psychological 20,00o mark. The GIFT Nifty is hinting at a start around 19,800 for the Nifty. Stocks in focus today will be SBI Card, Aurobindo and Exide Industries among others. Catch Nandita Khemka in conversation with Kunal Shah, Senior Research Analyst, Carnelian Capital and Aamar Deo Singh, Sr Vice President – Angel One.
The estimated time frame for implementation of the first release is 2026, and for the second release is 2028 or 2029, ASX said, adding that further stakeholder consultation for the next phase of the CHESS replacement project is set to start in the first quarter of 2024.
JIgar Patel thinks that Bank Nifty might break the October low in the coming 1-2 months.
Sensex Today | Stock Market LIVE Updates: Hindalco Industries, Apollo Hospitals, NTPC, Divis Labs and HCL Technologies were among major gainers on the Nifty, while losers were Axis Bank, Asian Paints, Kotak Mahindra Bank, Cipla and SBI Life Insurance.
Stocks to watch: Check out the companies making headlines before the opening bell today, on November 20, 2023.
Nykaa was the third largest gainer in the Nifty500, rising more than 9 percent with robust volumes after breakout of horizontal resistance trendline adjoining multiple touchpoints. The stock traded above all key moving averages.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent, having climbed 2.8 percent last week to a two-month high.
Expert expects strong moves in the broader market; hence, one needs to have a stock-centric approach for better trading opportunities.
Prabhudas Lilladher recommended hold rating on Lupin with a target price of Rs 1200 in its research report dated November 10, 2023.
Prabhudas Lilladher recommended hold rating on Bajaj Electricals with a target price of Rs 1032 in its research report dated November 13, 2023.
Prabhudas Lilladher recommended accumulate rating on Aurobindo Pharma with a target price of Rs 1065 in its research report dated November 11, 2023.
Prabhudas Lilladher recommended accumulate rating on National Aluminium Co with a target price of Rs 100 in its research report dated November 10, 2023.
Prabhudas Lilladher recommended accumulate rating on Eicher Motors with a target price of Rs 3800 in its research report dated November 11, 2023.
Prabhudas Lilladher is bullish on Hindalco Industries has recommended buy rating on the stock with a target price of Rs 583 in its research report dated November 13, 2023.