Salasar Techno gains 8% on repeat order of Rs 350 million from Reliance Jio

Shares of Salasar Techno Engineering have moved 8% higher to Rs 385 per share, also their new high on the BSE, after the company said it has received new orders of Rs 490 million from leading telecom players in India and Nepal.
The company received an order of Rs 350 million from Reliance Jio to supply 300 telecom towers, Salasar Techno Engineering said in a press release.

The company also received export order of 100 telecom towers worth Rs 140 million to Nepal, it added.

Commenting on this new order Shashank Agarwal, Joint Managing Director, said “This new and repeat order from Reliance JIO shows the continued trust our clients have in us. We have also received an export order to supply towers as we try to create and increase our presence in the export market.

Salasar Techno Engineering was trading at its highest level since its listing on July 25, 2017. the stock zoomed 256% against issue price of Rs 108.

Since debut in last year, the stock outperformed the market by surging 42% against 7% rise in the S&P BSE Sensex.

12 new IPOs to come up in June-quarter, analysts remain positive

After raising Rs 843.57 billion through initial public offers (IPOs) in 2017-18 (FY18), at least 12 companies are planning to garner Rs 170 billion through IPOs over the next two months, reports say, with some of the prominent ones being HDFC Asset Management.

Other companies that may launch their IPOs in the quarter are Devi Seafoods and Nekkanti Sea Foods. Timing of the launch for these two companies will be announced after they get regulatory approval.

Going ahead, analysts expect a good appetite from investors for these issues given the ample liquidity.

“IPOs will attract a lot of interest in the near future following last-year’s trend. Most IPOs in FY18 had attractive pricing and barring a few most were successful. Currently, there is enough liquidity in the market and from a short and medium-term perspective, good IPOs do well in the current scenario,” said Gaurang Shah, head investment strategist at Geojit Financial Services.

Lemon Tree Hotels hits new high since listing; stock soars 30% in 3 days

Lemon Tree Hotels rallied 7% to Rs 89.80, extending past two days 23% surge on BSE, after the company said its arm signed three management contracts in the state of Uttarakhand.
The stock is trading at its highest level since listing on April 9, 2018. It zoomed 60% against its issue price of Rs 56 per share.

“Carnation Hotels, the wholly owned subsidiary and management arm of Lemon Tree Hotels Limited has announced the signing of three individual management contracts for three new hotels in the State of Uttarakhand; one each in Rishikesh, Neelkanth and Mussoorie,” Lemon Tree Hotels said in a regulatory filing on Wednesday, April 18.

With these new signings, Lemon Tree Hotels, the largest hotel chain in the mid-priced hotel sector, it added.

The company currently owns and operates 48 hotels in 30 cities aggregating around 4900 rooms as on March 31, 2018. With the signing of this contract, Lemon Tree Hotels now has a development pipeline of 3282 rooms in 30 hotels across 24 new cities of India.

At 11:25 am; the stock trading 6% higher at Rs 88.50 on the BSE, against 0.27% rise in the S&P BSE Sensex. A combined 10.74 million shares changed hands on the counter on the BSE and NSE so far.

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TCS becomes first Indian company to cross $100 bn in market-cap

Tata Consultancy Services (TCS) has become the first Indian $100 billion- dollar company in terms of market capitalisation (market-cap), after the stock of the IT bellwether hit a new high on Monday.
The stock hit a new high of Rs 3,499, up 2.7% in intra-day trade, extending its Friday’s 6.7% surge, as the company reported better-than-expected March quarter earnings in post market hours on Thursday. TCS also announced 1:1 bonus shares i.e. one bonus shares of Rs 1 face value each for every share held in the company to its investors.

The 10% rise in the company’s scrip in past two trading days helped it cross Rs 6.69 trillion ($101 billion) in market-cap at 09:55 am, the BSE data shows. Currently, the rupee is trading at 66.21 against the US dollar. TCS is currently accounted 11% of the total Sensex market-cap of Rs 60.81 trillion market-cap.

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In terms of market capitalisation, TCS raks ahead of Reliance Industries, HDFC Bank, ITC, Hindustan Unilever, HDFC, Maruti Suzuki and Infosys.
Most analysts are now bulish on the stock and have revised their target price. At least half a dozen foreign brokerages increased their price target for the stock by over 15 per cent post the results announcement last week.

Huawei P20 Pro, P20 Lite launch set for April 24; to go on sale via Amazon

Huawei, a Chinese smartphone manufacturer, will launch the Huawei P20 and Huawei P20 Lite smartphones in India on April 24. These devices will go on sale exclusively through Amazon India and the e-commerce platform has already put up a promotional page listing both the smartphones.

Unveiled earlier this month, the Huawei P20 Pro features the world’s first Leica-branded tri-camera module assisted by an artificial intelligence engine developed in-house by the company. The P20 Lite, on the other hand, is a trimmed-down version, featuring a design theme similar to the premium P20 Pro, but with midrange specifications, a smaller screen and dual rear cameras on the back.

Here are the key features of the Huawei P20 Pro and P20 Lite:

Huawei P20 Pro
The Huawei P20 Pro sports a 40-megapixel wide-angle lens with f/1.6 aperture, 20MP monochrome lens with f/1.8 aperture, and an 8MP telephoto lens with f/2.4 aperture, optimised by imaging experts at Leica, on the rear. The unique tri-camera enables 3x lossless optical zoom and 5x hybrid zoom capabilities.