Tag: stock to watch

The Indian market is likely to open flat Thursday amid gains in Asian peers after the US Federal Reserve left interest rates unchanged near zero. Meanwhile, the government issued its latest ‘Unlock 3’ guidelines aimed at continuing some restrictions on people movement while easing curbs on others. At 7:55 am, the SGX Nifty was trading 6.50 points or 0.06 percent highe at 11.231.50, indicating a mildly positive start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. Bharti Airtel: The company’s net loss in Q1FY21 widened to Rs 15,933.1 crore from Rs 5,237 crore in the previous quarter. Revenue rose 0.9 percent to Rs 23,939 crore from Rs 23,722.7 crore, QoQ. ARPU increased 2 percent QoQ to Rs 157. The company has made a provision of Rs 10,744 crore for AGR dues.

2. TVS Motor Company: The company reported a net loss of Rs 139.1 crore in Q1FY21 versus a profit of Rs 142.3 crore in Q1FY20. Revenue plunged 67.96 percent to Rs 1,431.7 crore from Rs 4,468.6 crore, YoY.

3. InterGlobe Aviation: The company posted a net loss of Rs 2,844.3 crore in Q1FY21 as against a net profit of Rs 1,203.1 crore, YoY. Revenue fell 91.9 percent to Rs 766.7 crore from Rs 9,420.1 crore. EBITDAR loss was at Rs 1,421.2 crore as compared to a profit of Rs 2,778.5 crore, YoY.

4. Tech Mahindra: The company has announced a partnership with Hinduja Group’s CyQureX to jointly offer cybersecurity solutions. Under the partnership, Tech Mahindra will provide consulting, planning, designing, integration, orchestration and automation of services and CyQureX will prioritize capabilities in the cybersecurity domain.

5. Yes Bank: The bank has taken possession of Reliance Infrastructure’s Mumbai properties after it failed to repay dues. Its has possessed ADAG headquarters ‘Reliance Centre’ property measuring 21,432 sq ft in Santacruz East, Mumbai and 2 floors of Reliance Infra’s property at Nagin Mahal, Mumbai. The bank had issued demand notice to Reliance Infra for repayment of Rs 2,892.44 crore dues within 60 days on May 5, 2020.

6. BPCL: The government has decided to extend the last date for submission of EOI for BPCL strategic disinvestment to September 30,^, 2020.

7. CEAT: The company reported net loss of Rs 34.8 crore in Q1FY21 as against net profit of Rs 82.6 crore, YoY. Revenue fell 36.6 percent to Rs 1,120 crore from Rs 1,752 crore, YoY.

8. Bharat Forge: The company’s board has approved a proposal to raise Rs 500 crore by issuing securities on a private placement basis.

9. NTPC: The company achieved its highest-ever daily gross generation of 977.07 million units (MU) on July 28, 2020. This includes power generated from NTPC’s subsidiaries and JV companies

10. Sagar Cement: The company reported 22 percent rise in Q1FY21 net profit at Rs 36 crore as against Rs 29.5 crore in the year-ago period. Revenue fell 23.3 percent to Rs 264.1 crore from Rs 344.2 crore, YoY.

The Indian market is likely to open higher Wednesday amid mixed trend in Asian peers as investors await the US Federal Reserve’s interest rate decision. At 7:55 am, the SGX Nifty was trading 34.50 points or 0.31 percent higher at 11,319.00, indicating a positive start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. IndusInd Bank: The bank’s standalone profit in Q1FY21 declined to Rs 460.64 crore from Rs 1,432.5 crore while net interest income grew by 16.4 percent to Rs 3,309.2 crore, YoY. Gross NPA ratio rose 8 bps to 2.53 percent, while net NPA ratio fell 5 bps to 0.86 percent, sequentially. Provisions and contingencies increased five-fold to Rs 2,258.9 crore from Rs 430.6 crore, YoY, due to COVID-19 related provisions. The bank’s board approved raising funds via preferential issue worth Rs 3,288 crore.

2. Nestle India: The company’s net profit in April-June quarter rose 11.1 percent to Rs 486.6 crore from Rs 437.8 crore while revenue increased 1.48 percent to Rs 3,050.48 crore from Rs 3,000.8 crore, YoY.

3. Yes Bank: The bank reported 60.1 percent YoY fall in standalone net profit at Rs 45.44 crore for Q1FY21 as against Rs 113.76 crore in the same quarter last fiscal. NII declined 16.3 percent to Rs 1,908.2 crore from Rs 2,280.6 crore, YoY. Gross NPA increased to 17.30 percent against 16.80 percent while net NPA fell to 4.96 percent from 5.03 percent, QoQ. The bank created total provisions for Q1FY21 at Rs 1,087 crore, consisting of Rs 642 crore of COVID-19 related provisioning.

4. Hexaware Technologies: The company’s net profit in the quarter ended June fell 13 percent to Rs 152.4 crore from 174.9 crore while revenue rose 1.8 percent to Rs 1,569.1 crore from Rs 1,541.7 crore, QoQ. Dollar revenue fell 1.2 percent to $208 million from $210.6 million, sequentially. EBIT rose 14.2 percent to Rs 207.6 crore from Rs 181.8 crore and EBIT margin improved to 13.2 percent from 11.8 percent, QoQ.

5. RBL Bank: The bank’s net profit in Q1FY21 fell 47.1 percent to Rs 141.2 crore from Rs 267.05 crore while net interest income rose 27.4 percent to Rs 1,041.3 crore from Rs 817.32 crore, YoY.

6. Adani Ports and SEZ: The Finance Committee of the company has approved the issuance of fixed rate senior unsecured notes aggregating to $750 million.

7. NIIT Technologies: The company’s net profit in Q1FY21 fell 29.7 percent to Rs 79.9 crore from Rs 113.6 crore while revenue declined 4.7 percent to Rs 1,057 crore from Rs 1,109.3 crore, QoQ. EBIT decreased 20.7 percent to Rs 123 crore from Rs 155.7 crore while EBIT margin contracted by 230 bps to 11.6 percent, QoQ.

8. Castrol India: The company reported 64.2 percent fall in net profit for the quarter ended June 2020 at Rs 65.4 crore as against Rs 182.7 crore in the year-ago period. Revenue declined 52.8 percent to Rs 490.6 crore from Rs 1,039.6 crore, YoY.

9. IDBI Bank: The bank reported a net profit of Rs 144.3 crore in Q1FY21 as against a loss of Rs 3,800.8 crore in the year-ago period. Net interest income rose 21.65 percent to Rs 1,773.4 crore from Rs 1,457.73 crore, YoY.

10. Sunteck Realty: The company’s net profit in Q1FY21 fell to Rs 3.06 crore from Rs 36.20 crore while revenue declined to Rs 60.7 crore from Rs 178.2 crore, YoY. Pre-sales (new bookings) stood at Rs 101.2 crore as against Rs 185.8 crore, YoY.

The Indian market is likely to open higher Tuesday following gains in Asian peers as investors continue to monitor developments over coronavirus vaccine. At 8:00 am, the SGX Nifty was trading 67.00 points or 0.60 percent higher at 11,185.50, indicating a positive start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. Tech Mahindra: The company reported a net profit of Rs 972.3 crore in Q1FY21, a rise of 20.9 percent from Rs 803.9 crore in the previous quarter. Revenue was down 4 percent to Rs 9,106.3 crore from Rs 9,490.2 crore, QoQ. Revenue in dollar terms fell 6.7 percent to $1,207.5 million from $1,294.6 million, on a sequential basis.

2. Bharti Infratel: The company reported 8.3 percent rise in Q1FY21 net profit to Rs 703.6 crore as against Rs 649.5 crore in the previous quarter. Revenue dropped 3.3 percent to Rs 3,504.7 crore from Rs 3,624.4 crore, QoQ. EBIT increased 5 percent to Rs 1,807 crore while EBIT margin improved by 410 bps to 51.6 percent, QoQ.

3. ITC: The company has acquired 100 percent equity share capital of Sunrise Foods Private Ltd in an all-cash deal valued at Rs 2,150 crore.

4. InterGlobe Aviation: IndiGo will implement steeper pay cuts from September with CEO Ronojoy Dutta’s salary reducing by 35 percent, sources told CNBC-TV18. This will be the second round of pay cut by the airline as the travel industry remains affected due to the coronavirus pandemic that refuses to die down.

5. Mahindra & Mahindra Financial Services: The company’s rights issue of Rs 3,088.8 crore will open on July 28, with a price at Rs 50 per share.

6. Pfizer: The company’s net profit in Q1FY21 rose 10.3 percent to Rs 124.5 crore from Rs 112.8 crore while revenue declined 5.4 percent to Rs 514.9 crore from Rs 544.4 crore, YoY.

7. NBCC India: The company has received orders worth Rs 204 crore.

8. United Spirits: The company reported Q1FY21 net loss at Rs 241.5 crore versus profit at Rs 202.1 crore and revenue at Rs 3,820.7 crore versus Rs 7,292.5 crore, YoY.

9. Kirloskar Electric Company: The company’s units at Hirehalli (unit-7) and Budihyal (unit-15) have extended partial lay off its workmen for a further period of 30 days.

10. CARE Ratings: SEBI has imposed a penalty of Rs 1 crore on CARE Ratings in connection with lapses in assigning credit rating to non-convertible debentures of Reliance Communications (RCom).

The Indian market is likely to open lower Friday following weakness in Asian peers amid tensions between US and China and an overnight fall in US markets. At 8:00 am, the SGX Nifty was trading 54.85 points or 0.49 percent lower at 11,162.50, indicating a negative start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. Axis Bank, Max Financial Services: Axis Bank and Max Life will make some changes to the value creation options in their proposed life insurance deal. The two companies have also informed that they will factor in some alternate mechanism under the value creation option, which will be subject to regulatory approvals and permitted under the applicable law. On April 28, Axis Bank had announced the acquisition of 29 percent stake in Max Life Insurance.

2. Lupin: The company has received a tentative nod from the US Food & Drug Administration for Empagliflozin and Linagliptin tablets, which are used to improve glycemic control in adults with Type 2 diabetes.

3. HPCL: The company said that there was a significant fall in demand of petroleum products in the month of April 2020 due to lockdown in the country and sales was down by over 48.5 percent as compared to April 2019. Sales of petroleum products in May 2020 was about 77 percent compared to May 2019 and sales in June 2020 was about 91 percent as compared to June 2019.

4. Bank of Maharashtra: The bank’s Q1FY21 net profit rose 24.5 percent to Rs 101 crore from Rs 81.1 crore while net interest income (NII) increased 9.1 percent to Rs 1,087.9 crore from Rs 996.8 crore, YoY. Asset quality improved as gross NPA ratio declined by 188 bps to 10.93 percent and net NPA fell by 67 bps to  4.1 percent, QoQ.

5. Mphasis: The company reported 22.1 percent fall in Q1FY21 net profit at Rs 275.1 crore as against Rs 353.2 crore, YoY. Revenue declined 2.5 percent YoY to Rs 2,288 crore. EBIT fell 6.5 percent to Rs 385.3 crore while EBIT margin contracted by 60 bps to 15.7 percent, YoY.

6. AU Small Finance Bank: The bank’s Q1FY21 net profit rose 5.5 percent to Rs 200.8 crore from Rs 190.3 crore while Net Interest Income (NII) increased 30.4 percent to Rs 515.8 crore from Rs 395.6 crore, YoY. Gross NPA ratio remained stable at 1.69 percent while net NPA ratio fell by 19 bps to 0.62 percent, sequentially.

7. ABB India: The company’s net profit in the quarter ended June 2020 fell 76.6 percent to Rs 16.3 crore from Rs 69.7 crore while revenue declined 42.9 percent to Rs 985.8 crore from Rs 1,725.7 crore, YoY.

8. Can Fin Homes: The company’s board has approved raising up to Rs 1,000 crore via equity and Rs 4,000 crore via debt instruments.

9. PNC Infratech: The company has received Letters of Acceptance (LOA) for 2 EPC projects from the National Highways Authority of India (NHAI) for an aggregate contract value of Rs 1,547.80 crore.

10. Jubilant Industries: The company said it had temporarily suspended manufacturing in some of its plants due to COVID-19. Operations have partially resumed and full resumption is expected in the next couple of months.

The Indian market is likely to open on a cautious note Thursday following amid mixed global cues. At 8:00 am, the SGX Nifty was trading 2.75 points or 0.02 percent lower at 11,123.20, indicating a flat start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. Larsen & Toubro: The company’s net profit in Q1FY21 declined 79.4 percent to Rs 303 crore from Rs 1,472.6 crore while revenue fell 28.3 percent to Rs 21,260 crore from Rs 29,636 crore, YoY. EBITDA witnessed a decline of 47.2 percent to Rs 1,620.5 and operating margins saw a fall of 270 bps to 7.6 percent, YoY. L&T’s order inflow fell 39 percent YoY to Rs 23,574 crore.

2. Axis Bank: Naveen Tahilyani, Group Executive & Head, Banking Operations & Transformation of Axis Bank will be stepping down in the month of November to pursue opportunities outside the Bank.

3. Vodafone Idea: The Supreme Court dismissed a plea by the Income Tax Department challenging a Bombay High Court order directing refund of Rs 833 crore and upheld Vodafone’s claims for refund of Rs 833 crore for the assessment year 2014-15.

4. Glenmark Pharmaceuticals: The company has announced that Phase 3 clinical trial of Favipiravir demonstrated statistically significant faster time to clinical improvement with Favipiravir treatment in mild to moderate COVID-19 patients compared to control.

5. Bajaj Auto: The company said that due to COVID-19 pandemic, all manufacturing operations came to a near standstill for a period ranging from 28 to 43 days between March and May. It is now able to ramp-up production to almost 70 percent of normal levels. However, things are far from normal as this is an unstable recovery due to sporadic local shutdowns in various parts of the country impacting both, demand as well as supply chain, the company said.

6. Infosys: The company has launched ‘Reskill and Restart’, a digital solution to reskill the American workforce and fulfill employment needs following COVID-19

7. Future Retail: The company has missed the payment due to dollar bonds due to the stressed liquidity position. The terms of issuance of the USD Notes provide for an additional period of 30 days for payment of interest from the due date, in case the same could not have been paid on the original due date, it said.

8. ICICI Securities: The company reported a 70 percent jump in Q1FY21 net profit to Rs 193 crore from Rs 114 crore while revenue rose 36 percent to Rs 546 crore from Rs 402 crore, YoY.

9. Rallis India: The company reported Q1FY21 profit at Rs 91.9 crore versus Rs 60.4 crore, revenue at Rs 662.7 crore versus Rs 623.2 crore, YoY.

10. Heidelberg Cement: The company’s Q1FY21 net profit fell to Rs 48.9 crore from Rs 79 crore while revenue fell to Rs 407.7 crore from Rs 589.2 crore, YoY.

The Indian market is likely to open higher Tuesday following global peers as vaccine hopes fueled optimism. At 7:56 am, the SGX Nifty was trading 103.75 points or 0.94 percent higher at 11,114.00, indicating a positive start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. Telecom stocks: The Supreme Court reserved its order in the adjusted gross revenue (AGR) case. This after Vodafone Idea and Bharti Airtel sought 15 years to repay their dues to the government while Tata Teleservices has said that a 7 to 10 year period should suffice for them. The court has directed AGR payments to be made on the Department of Telecom’s (DoT) preliminary assessed dues rather than the operator’s detailed self-assessments. The next hearing has been scheduled for August 10.

2. Wipro: The company has received orders from ComplianceQuest for quality management solutions.

3. ACC: The company’s net profit in April-June quarter declined 40.5 percent to Rs 270.9 crore from Rs 455.7 crore while revenue fell 37.3 percent to Rs 2,602.2 crore from Rs 4,149.8 crore, YoY.

4. InterGlobe Aviation: The company’s CEO Ronojoy Dutta said it will lay off 10 percent of its total workforce as it was facing an economic crisis caused by the COVID-19 pandemic.

5. Indian Oil Corporation: Rating agency Fitch has affirmed the company’s long-term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘. The Outlook is Negative. The agency has also affirmed IOC’s senior unsecured rating and the ratings on its outstanding senior unsecured debt at ‘BBB-‘

6. NHPC: The company has signed a pact with Odisha Green Energy Body to develop solar projects.

7. Jubilant Life Sciences: The company has received approval from the Drug Controller General of India (DCGI) to manufacture and market the antiviral drug remdesivir for restricted emergency use in India for the treatment of severe COVID-19. Jubilant’s remdesivir product will be marketed under the brand name ‘JUBI-R’ in India and will be made available in 100 mg vials (injectable).

8. Tata Power: The company’s subsidiary Coastal Gujarat Power Ltd (CGPL) has raised Rs 350 crore by issuing non-convertible debentures (NCDs) on a private placement basis.

9. Majesco: The company will sell its US subsidiary to Thoma Bravo for $420.7 million.

10. Omaxe: The company has entered into a steel supply deal with Jindal Steel & Power Ltd. JSPL will supply 7,000-8,000 metric tonne of structure steel to Omaxe.

The Indian market is likely to open lower Monday amid mixed trend in Asian peers. Corporate earnings for the June quarter and the situation over coronavirus cases may guide the market sentiment going ahead. Meanwhile, at 7:45 am, the SGX Nifty was trading 39.25 points or 0.36 percent lower at 10,891.80, indicating a negative start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. HDFC Bank: The bank’s net profit in Q1FY21 rose 19.6 percent YoY to Rs 6,658.62 crore. NII rose 17.8, YoY, percent to Rs 15,665.4 crore while net interest margin was at 4.3 percent. Asset quality deteriorated marginally as gross NPA ratio rose to 1.36 percent from 1.26 percent, QoQ. Provision and contingencies increased 48.89 percent YoY and 2.82 percent QoQ to Rs 3,891.52 crore.

2. Reliance Industries: The company will shut 1 crude distillation unit at Jamnagar for 3-4 weeks in July for maintenance and inspection. (Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

3. Glenmark Pharmaceuticals: The Drug Controller General of India (DCGI) has issued notices to the company seeking clarification regarding the false claim that its antiviral drug Fabiflu, is effective on COVID-19 patients with co-morbidities.

4. Yes Bank: The bank has raised Rs 14,266.97 crore via FPO. The offer received total subscription at 0.95x; QIB subscription was at 1.90x while HNI at 0.63x and Retail ar 0.46x.

5. M&M Financial Services: The company’s board has approved rights issue in the ratio of 1:1 at price fixed at Rs 50 per share which is at 76 percent discount to the current market price.

6. Vodafone Idea: The company has paid an additional Rs 1,000 crore gross revenue due to the Department of Telecommunications. The company had earlier deposited Rs 6,854 crore in 3 tranches.

7. Cadila Healthcare: Zydus has received USFDA approval for Butalbital, Acetaminophen and Caffeine tablets. The combination is used to treat symptom complex of tension and headache. The drug will be manufactured at Nesher Pharma’s manufacturing unit at St. Louis, US.

8. MCX India: The company said that it will go live on July 27 with its new trading software to accommodate zero and negative prices of commodities derivatives contracts it offers on its platform.

9. Bank of India: The bank has appointed Shri Shankar Sen, as Chief Financial Officer.

10. Trident: The company’s net profit in Q1FY21 declined 91.7 percent to Rs 10.1 crore from Rs 122.4 crore while revenue fell 46 percent to Rs 708.5 crore from Rs 1,312.1 crore, YoY.

The Indian market is likely to open higher Friday following gains in Aian peers. At 8:10 am, the SGX Nifty was trading 84.10 points or 0.79 percent higher at 10,782.00, indicating a positive start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. BPCL: The company’s subsidiary Bharat PetroResources Ltd has finalized senior debt financing of $14.9 billion for the two train LNG project for which Final Investment Decision (FID) was announced in June 20, 2019.

2. L&T Technology Services: The company will acquire US-based Orchestra Technologies for $25 million. Orchestra Technologies is a specialist technology solutions provider for the telecom industry.

3. Cyient: The company reported 76.2 percent rise in Q1FY21 net profit to Rs 81.4 crore as against Rs 46.2 crore in the previous quarter. Revenue fell 7.6 percent to Rs 991.7 crore from Rs 1,073.6 crore, QoQ. EBIT increased 10.6 percent to Rs 50.2 crore while EBIT margin expanded by 90 bps to 5.1 percent, QoQ.

4. PTC India: The company has invited potential investors to submit their interest for divesting its controlling stake in PTC India Financial Services Ltd.

5. Bajaj Consumer Care: The company’s Q1FY21 net profit fell 4.35 percent to Rs 54.23 crore from Rs 56.7 crore while revenue declined 15.63 percent to Rs 208.14 crore from Rs 246.70 crore, YoY.

6. Endurance Technologies: The company’s Italian subsidiary Endurance SpA has decided to undertake consolidation of its foundry activities whereby the plant operations, including workmen and necessary plant & machinery, from Grugliasco are shifted to the Chivasso plant. Consequent to this consolidation of plant operations at Endurance Spa, the Endurance Group in Europe now has nine manufacturing plants, of which six are in Italy and three in Germany.

7. Godrej Industries: The company has allotted NCDs worth Rs 750 crore.

8. Thomas Cool India: The company has inked an agreement to take over the portfolio of Dnata’s Travel India’s corporate travel business.

9. Century Plyboard: The company said that the operations at Joka unit in West Bengal have normalized after partial suspension of the plant due to cyclone Amphan on May 20.

10. Symphony: The company said that the lockdown in the second fortnight of March resulted in a loss of 15-17 percent of sales for the quarter ended March 2020. It was unable to deliver the goods towards the of March, leading to several orders being canceled.

The Indian market is likely to open lower Thursday following muted trend in Asian peers. At 8:05 am, the SGX Nifty was trading 18.50 points or 0.17 percent lower at 10,623.50, indicating a negative start for the Sensex and Nifty50.

Here are the top 10 buzzing stocks for today:

1. Infosys: The company’s net profit in Q1FY21 fell 2 percent to Rs 4,233 crore from Rs 4,321 crore while revenue rose 1.7 percent to Rs 23,665 crore from Rs 23,267 crore, QoQ. The company gave FY21 revenue growth guidance in the range of 0-2 percent in constant currency. Operating margin for FY21 is estimated to be in the range of 21-23 percent.

2. State Bank of India: The company’s board approved raising up to Rs 25,000 crore via bonds in FY21.

3. L&T Infotech: The company reported 2.6 percent sequential fall in Q1FY21 net profit at Rs 416 crore while revenue declined 2.1 percent to Rs 2,949 crore. EBIT rose 2.1 percent to Rs 514 crore while EBIT margin expanded by 90 bps to 20.1 percent, QoQ.

4. Federal Bank: The bank’s net profit in Q1FY21 rose 4.3 percent to Rs 400.8 crore from Rs 384.2 crore, YoY. NII increased 12.3 percent to Rs 1,296.4 crore while NIM improved to 3.07 percent from 3.15 percent, YoY. Asset quality also improved as net NPA ratio at 1.22 percent was the lowest in last 10 quarters.

5. Sugar stocks: Balrampur Chini Mills, Dhampur Sugar Mills Ltd, EID Parry, Bajaj Hindusthan, Dalmia Bharat Sugar among other sugar stocks will be in focus after the government approved an increase in the minimum selling price (MSP) of sugar by Rs 2 to 33 per kg.

6. Minda Corporation: The company reported a consolidated net loss of Rs 299.77 crore in Q4FY20 as against net profit of Rs 41.92 crore, YoY on account of impairment charges of one of its arms that has filed for insolvency. Revenue during the quarter fell to Rs 697.93 crore from Rs 771.39 crore, YoY.

7. Indiabulls Real Estate: Embassy Group has proposed 11 projects worth 61.9 million sq ft to merge into Indiabulls Real Estate.

8. IDBI Bank: The bank will raise up to Rs 11,000 crore equity capital through various modes, including a qualified institutional placement (QIP), in about a year to strengthen its capital base.

9. PowerGrid Corporation of India: The Department of Telecommunications (DoT) has withdrawn provisional demand notices served to the company with respect to the license fee for the period from 2006-07 to 2018-19.

10. Coffee Day Enterprises: The company’s interim Chief Operating Officer Nithin Bagamane has resigned from the company citing personal reasons.