Published on: 5:10 pm
- Multi Commodity Exchange of India Ltd, India’s largest Exchange in the commodity derivatives segment, and European Energy Exchange AG (EEX) have entered into a Memorandum of Understanding (MOU), with the objective of knowledge sharing and exchanging of expertise on electricity derivative products.
- This MoU will facilitate cooperation between the two exchanges in areas such as knowledge sharing, education & training and organizing events in the domain of electricity derivatives.
- EEX is a leading energy exchange in Europe, which develops, operates and connects secure, liquid and transparent markets for power and other energy products. Read more
Published on: 5:09 pm
- Transport Corporation (TCI) said in the regulatory filing that the Board of Directors has approved the appointment of Vikrampati Singhania as an Additional Director in the capacity of Non-Executive Independent Director, for a period of 05 consecutive years, effective from July 5, 2021, subject to the approval of the shareholders in the Annual General Meeting.
- In terms of the provisions of Section 161 of the Companies Act, 2013 read with applicable rules made thereunder, Mr. Vikrampati Singhania has been appointed as an Additional Director to hold office for a period of 5 consecutive years, effective from 5th July 2021, subject to the approval of shareholders in the ensuing Annual General Meeting of the Company to be held for FY 2020-21, the company said in the filing. Read more
Published on: 5:05 pm
- Wonderla Holidays has announced that the resort in Bangalore has reopened its business from Monday with a 50% capacity as a crowd control measure. Keeping in mind the ongoing situation, Wonderla continues to follow all the safety and precautionary measures like well-sanitized rooms and limited but sufficient facilities, adhering to the government guidelines.
- Arun K Chittilapilly, Managing Director, Wonderla Holidays Ltd, said, “We have arrived at this decision after understanding the consumer needs. The long lockdown and pandemic have made all of us realize the importance of taking breaks. Facilitating better than ever experiences of an opulent stay along with making the health and safety of the guests and staff our top priority, we request everyone to follow the same for a safe and joyous trip”. Read more
Published on: 4:58 pm
- Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has been positioned as a Leader in the Gartner Magic Quadrant for SAP S/4HANA Application Services, Worldwide.
- The report states that “The Magic Quadrant evaluated 20 service providers’ capabilities to deliver SAP S/4HANA application assessment, implementation and management services on a worldwide basis.” It goes on to say that “Leaders are performing well today, gaining traction and mind share in the market; they have a clear vision of market direction and are actively building competencies to sustain their leadership position in the market. Leaders have built a considerable S/4HANA track record and capabilities across multiple industries, geographies, deployment approaches or modules.” Read more
Published on: 4:57 pm
- HCL Technologies announced a multi-year agreement with Fiskars Group, consisting of a family of lifestyle brands including Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford and Wedgwood.
- We have our heritage and strong shared values that guide us as we seek sustainable growth in the ever-changing consumer goods business environment. We are excited about the partnership with HCL and believe that with our combined strengths, we can make the every day extraordinary for our employees and our consumers,” said Peter Holmberg, CDO, Fiskars Group. “ Read more
Published on: 4:43 pm
- Alankit Ltd said in the regulatory filing that it has opened a Branch office at Imphal, Manipur and the Company is in the process to open new Branch office at Tripura for deeper Penetration & a better service network in the North East.
- “We are pleased to inform your good office that Alankit Limited (the Company) has opened a Branch office at Imphal, Manipur-795001. Also, the Company is in the process to open a new Branch office at Tripura for deeper Penetration & better service network in the North East,” the company said in the filing. Read more
Published on: 4:40 pm
Details are as follows:
- From Gujarat Metro Rail Corporation Limited for development and construction of Dream City Depot including Metro Bhavan and associated Electrical & Mechanical works in connection with Surat Metro Rail Project, Phase-1. Read more
Published on: 4:40 pm
- NBFC-giant, HDFC-led subsidiary HDFC Investments has concluded the sale of 7,960 Ordinary Class B shares to WL Ross & Co. LLC and/or its affiliates for a total consideration of USD 1,29,663.23 equivalent to Rs96.94 lac.
- The NBFC informed the sale on NSE.
- Earlier in January this year, the HDFC's subsidiary had agreed to sale its entire stake of 7,960 Ordinary Class B shares of par value USD 1 each of India Asset Recovery Management Limited (IARM), a company situated in Mauritius, representing 19.9% of the issued and paid-up capital of IARM and that the said transaction would be completed within a period of 10-12 months. Read more
Published on: 4:33 pm
- KKR, a global investment firm, announced the signing of definitive agreements under which KKR will acquire Global Infrastructure Partners’ (“GIP”) entire interest in Highway Concessions One (“HC1”) and seven highway assets with a total length of 487 kilometers.
- HC1 is a platform in India that manages GIP’s road portfolio which spans across seven states including Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana.
- Through the acquisition of GIP’s interest in HC1, KKR aims to help strengthen and expand India’s national highway network, which serves about 40% of total traffic but accounts for only 2% of the country’s road network. This latest infrastructure investment is also in line with the government’s focus on improving connectivity between cities, with the National Highways Authority of India planning to build 60,000 kilometers of highway in the next five years. Read more
Published on: 4:31 pm
- Renaissance Global Limited has informed the exchange that it currently runs six direct-to-consumer websites which have been launched over the last five quarters.
- During Q1 FY22, company's direct-to-consumer business posted revenues of Rs25cr while in Q1 FY21 the direct-to-consumer revenues stood at Rs5.7cr.
- Based on the estimates of a quarter’s contribution to annual sales, the annual revenue run rate is at Rs124.8cr in Q1 FY22 vs actual FY21 revenues of Rs64.9cr. Read more
Published on: 4:31 pm
- Info Edge has trimmed the offer for sale size for Zomato's initial public offering (IPO) by half. The food delivery company Zomato plans to launch its public issue on stock exchanges.
- In its regulatory filing, Info Edge said that the Committee of Executive Directors of the Company, having been duly authorized in this regard, have considered and given their approval for a reduction in the size of the Offer for Sale by the Company to the extent permitted under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, such that the revised Offer for Sale by the Company would comprise of a such number of Equity Shares held by the Company in Zomato, as would aggregate up to Rs375cr, the terms and conditions of which will be specified in the red herring prospectus and the prospectus filed about the Offer, and in other Offer related documents and agreements. Read more
Published on: 4:29 pm
- The spread of second wave of Covid-19 infections to rural regions and the subsequent lockdowns restrictions by many states has impacted domestic cement production which was down by 11% M-o-M in April and 18% M-o-M in May. This is unlike last year when mostly urban areas had been infected. Notwithstanding the onset of monsoon, the pent-up demand is expected to push the volumes starting Q2 FY2022.
- ICRA ratings has revised volumetric growth estimates for FY2022 downwards to 10%-12% from earlier 15%, also, the rising input costs could result in decline in operating margins by around 300 bps. However, the credit profile of cement companies is expected to remain stable driven by the healthy cash generation and strong liquidity. Read more
Published on: 4:25 pm
- Bharat Forge Limited informed the exchanges Friday that 210 employees of the company at Chakan plant, opted for the Voluntary Retirement Scheme (VRS) which involved an overall pay-out cost of Rs63.32cr.
- The company had announced VRS effective from June 04, 2021, for its eligible employees working at its plant located in Chakan, Maharashtra.
- Bharat Forge Ltd ended at Rs768.10 per piece down by Rs3.9 or 0.51% from its previous closing of Rs772 per piece on the BSE. Read more
Published on: 4:21 pm
- DCB Bank has revised the Marginal Cost of Funds based Lending Rate (MCLR). The new interest rates are effective from Monday onward.
- MCLR rate for one year is at 9.33%, while the benchmark interest rate is at 9.23%. 3-month MCLR is at 8.78%.
- MCLR was at 8.08% each for tenures one month and overnight. Read more
Published on: 4:21 pm
- Fineotex Chemical (FCL) announce that it's CRISIL long term rating as A- which denotes Stable. The short-term rating is CRISIL A2+. CRISIL A-/Stable/CRISIL A2+' is assigned to Bank Debt.
- In its detailed report, CRISIL reasoned the rating to: “The established position of the company in the textile chemicals segment with reputed clientele, healthy operating efficiency, strong financial risk profile and the extensive industry experience of its promoters. These strengths are partially offset by exposure to volatility in raw material prices and competition from multinational companies, and the moderate scale of operations.”
- The stock ended at Rs90.25 up by Rs3.6 or 4.15% from its previous closing of Rs86.65 on the BSE. The scrip opened at Rs88.80 and touched a high and low of Rs91.90 and Rs87.75 respectively. Read more
Published on: 4:20 pm
- Religare Enterprises Limited has informed the exchange that the stakeholders has approved Rs570cr preferential issue of fresh equity shares of the Company on Saturday, 3rd July, 2021.
- Earlier the Board of Directors of the Company, in a meeting held on 8th June, 2021 had approved raising of funds to the tune of Rs570cr by preferential allotment of 5,41,56,761 equity shares of the Company at a price of Rs. 105.25/share to existing shareholders like Burman family & Ares SSG Capital and selected new marquee investors. Read more
Published on: 4:15 pm
- Godrej Consumer Products Limited informed the exchanges on Monday that during Q1FY22, demand trends in the company’s categories across the key countries we operate in, remained steady.
- In India, the company expects to deliver sales growth in high teens, driven by strong volume growth and calibrated price increases.
- “We expect our 2-year CAGR to be in the double digits. We witnessed strong double-digit sales growth in our Home Care and Personal Care categories. Home Care was led by strong growth in Household Insecticides whereas Personal Care was led by Personal Wash & Hygiene,” the company said in a filing on Monday. Read more
Published on: 4:15 pm
- Ajooni Biotech has announced to set up an OXYGEN PARK first of its kind in the state. The project is of great importance at a time when the whole world is passing through the prevailing pandemic of Corona Virus where oxygen deficiency has been witnessed as one of the causes of deaths.
- As per the regulatory filing, the first oxygen Park will be established on 13 Acres of land at Village Behra. Tehsil Derabassi of Mohali District in the state of Punjab. Read more
Published on: 4:14 pm
- Indian Hume Pipe Company said in the regulatory filing on Saturday that it has received the Letter of Acceptance for the work of about Rs257.60cr (including GST) from Madurai City Municipal Corporation.
- "The Company has received the Letter of Acceptance for the work of about Rs257.60cr (including GST) from Madurai City Municipal Corporation for dedicated Water Supply Scheme for Madurai City Municipal Corporation for construction of distribution Network System (DI & HDPE), House service connections and Instrumentation for Madurai City Municipal Corporation Added Area-Package-4," it said.
- The project is to be completed within 36-months and the agreement will be signed in due course, the company said. Read more
Published on: 4:10 pm
- The Exchange traded funds (ETFs) has began their journey in India way back in 2002, when the first ETF by Nippon India Mutual fund (erstwhile Benchmark Asset Management Company Ltd) was launched in India on the Nifty 50 Index. The ETF was listed on NSE on 8th January, 2002 and day one witnessed trading of Rs1.30cr on NSE.
- The journey to listing of the 100th ETF on NSE took more than 19 years. Last one-year period has seen a lot of activity in the ETF space, with 21 ETFs getting listed on NSE.
- The assets under management of ETFs in India is now at Rs3.16 lakh cr (end of May 2021), witnessing more than 13.8 times increase in five years, as compared to Rs23,000cr (end of April 2016). Read more
Published on: 4:09 pm
- India Ratings and Research (Ind-Ra) revises Canara Bank’s (Canara) Outlook to Stable from Negative while affirming the Long-Term Issuer Rating at ‘IND AAA’.
- In its rating rationale, Ind-Ra said that the affirmation of the Long-Term Issuer Rating factors in Canara’s systemically important position and Ind-Ra’s expectations that the bank will continue to receive support from the government of India (GoI). The Outlook revision reflects the bank’s ability to absorb the impact of asset quality deterioration in FY21 without material deterioration in its credit profile, demonstrated equity raising ability and further plans for the same and expectations of modest profitability in FY22-FY23 that could help the bank maintain and possibly grow its market share in advances and deposits. Read more
Published on: 4:05 pm
- Delta Corp Limited will resume its casino operations in Sikkim from July 06, 2021. However, the casinos operated by the company and its subsidiaries in Goa will remain closed till July 12, 2021.
- The casino operations of the company and its subsidiaries have been impacted in Sikkim and Goa ever since the second wave of Covid-19 hit these states and lockdown was imposed to contain its spread.
- “The Government of Sikkim has allowed reopening of the Casinos in the State subject to the safety norms being followed. Further the company and/or its subsidiary operating the Casino in the state of Sikkim will resume its operations from July 06, 2021 and will follow all the safety norms laid down by the state in this regards,” company said in a filing on Monday. Read more
Published on: 3:58 pm
- Indian Energy Exchange traded 7093 MU of electricity volume in June’21 recording 48% yoy growth. According to the power demand data published by the National Load Dispatch Center, the national peak demand saw 16% yoy increase, with the highest ever peak demand at 191.51 GW, while energy consumption at 115 BU grew 8% yoy.
- The growth has been led by relaxations in COVID-19 related lockdowns across the country along with peak summer season and heat wave in Northern India.
- Cumulatively for the first quarter of fiscal year 2022, the Exchange Market witnessed a robust performance despite the CoVID-19 induced lock-down restrictions. The electricity market achieved the volume of 21,340 MU during the first quarter resulting in 44% yoy growth. Read more
Published on: 3:45 pm
- Lumax Auto Technologies Limited (LATL) on Friday signed a Joint Venture Agreement with Alps Alpine Co Limited, Japan to establish a joint venture company (JVC) for the manufacturing and sale of electric devices and components including software related to the automotive industry.
- LATL will hold 50% of the total equity shares capital of the proposed JVC and Alps will executed; hold 50% total equity share capital of the proposed JVC. Read more
Published on: 3:41 pm
- Eco Recycling Limited (Ecoreco) has informed to the stakeholders with the splendid performance achieved during the previous year ended on 31st March 2021, in spite of all odds during the same period.
- In the business update B K Soni,Chairman & Managing Director had mentioned that, “We are very optimistic about the incremental opportunity and changing dynamics in the e-waste recycling business.
- Ecoreco is fully geared to grab these opportunities and emerge as one of the Global players in the e-waste recycling space. We have also increased fee-based services for our domestic as well as International client." Read more
Published on: 3:36 pm
- Markets witnessed a positive day of trade, as across the board buying frenzy was witnessed in the broader markets.
- Bank Nifty outperformed the Nifty index by ~0.4%, with both the indices closing at intraday highs, up by ~1.15%/0.7%.
- Midcap stocks were among the top outperformers with stocks like KRBL, Avanti Feeds & Jyothy Labs closing witnessing a ~10% rally. Read more
Published on: 3:34 pm
- Acuité has downgraded its short-term rating to 'ACUITE A2' from ‘AUITE A1+ on the Rs200cr Commercial Paper Programme of Sterling and Wilson Solar Limited (SWSL).
- In its rationale rating, Acuite said that the downward revision in the rating is driven by the ongoing challenges faced by SWSL in maintaining adequate liquidity buffers. The company’s operations have been severely impacted in FY21 on account of the outbreak of Covid – 19. This had led to a significant deterioration in the operating cash flows of the company on the back of the disruption in execution activities across some of its project sites. While the operations of SWSL are geographically diversified, the impact of the pandemic driven disruption has been much higher than Acuité’s expectations. Read more
Published on: 3:27 pm
Key segment highlights of domestic deliveries are:
- ‘Automotive & Special Products’ segment deliveries increased by ~7x YoY against the estimated 3x YoY increase in automotive OEM’s production in 1QFY22. Read more
Published on: 3:27 pm
- Tata Steel BSL has announced that 1QFY22 Crude Steel production and Sales volume increased by 78%YoY and 61%YoY, respectively as 1QFY21 was impacted due to the COVID-19 pandemic and the stringent nationwide lockdown.
- In the quarter ending June 2021 (Q1FY22), the company's Crude Steel production remained largely at par on QoQ basis. However, Sales volume was impacted due to partial lockdowns announced by some of the states and temporary shutdowns in few steel-consuming sectors amidst the 2nd wave of the COVID-19 pandemic.
- Meanwhile, the domestic market has been improving since mid-June 21 with easing lockdowns. The Company has launched the B2ECA brand Tata Astrum in 1QFY22. Read more
Published on: 3:22 pm
- Texmaco Infrastructure & Holdings Limited informed the exchanges Friday that the operations of the company have nearly normalized in terms of the guidelines issued by the State Govt.
- The company’s operations have been affected since May 15, 2021, due to lockdown in West Bengal to contain the spread of the second wave of Covid-19.
- “The Govt. of West Bengal has w.e.f. July 1, 2021 lifted most of the restriction and the operations of the Company is now near normal in terms of the guidelines issued by the State Govt.,” company said. Read more
Published on: 3:21 pm
- Panacea Biotec has announced receipt of manufacturing license from Drugs Controller General (India) for Sputnik V vaccine against Covid-19 according to its collaboration with the Russian Direct Investment Fund (Russia’s sovereign wealth fund). The license is a necessary condition for using Sputnik V produced by Panacea Biotec in India.
- Dr Rajesh Jain, Managing Director, for Panacea Biotec, said, "Panacea Biotec is delighted to announce the obtaining of the manufacturing license to produce Sputnik V vaccine in India. On this occasion, we thank the leadership of our Hon’ble Prime Minister Modi Ji and Government of India for timely handholding and expediting clearances to enable ‘Make in India’ vaccines.” Read more
Published on: 3:11 pm
- G G Engineering Ltd has announced that the company has expanded its product line by launching "EV Charging Station” a product, conceptualized, designed & manufactured by the company.
- G G Engineering Limited with a view to increase its product line has developed EV Charging’Station from 3 KW to 22 KW.GG Engineering Ltd. shall commence manufacturing of EV Charging Station.
- These Stations shall be used to charge 2/3/4/ wheeler vehicles. The production and distribution network will start in 3 months, said company. Read more
Published on: 3:03 pm
- Banking stocks were on a bull run during Monday's trading session as lenders are announcing their June 2021 quarterly performance where provisional data for advances and deposits is presented. A broad-based buying was witnessed in the sector led by heavyweight stocks.
- At around 3.03 pm, Bank Nifty was trading at 35,198.60 up by 388.70 points or 1.12%. The index has touched an intraday high and low of 35,213.75 and 34,926.40 respectively. Read more
Published on: 2:51 pm
- State-owned ONGC is trading on a bullish note during Monday's session despite the Fitch Ratings assigned the company's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'BBB-'. The Outlook is Negative. The agency has also assigned a 'BBB-' rating to the company's US dollar senior unsecured notes.
- Further, Fitch has also assigned 'BBB-' ratings on the foreign-currency guaranteed notes issued by ONGC's subsidiary, ONGC Videsh Limited (OVL), and OVL's subsidiary, ONGC Videsh Vankorneft Pte Ltd, and the medium-term note programme co-issued by the three entities. Read more
Published on: 2:37 pm
- July 2021 is expected to see a host of companies launching their initial public offering. About Rs23,800cr public issues are expected to be lined up for the entering stock markets. That said, the IPO market is set to stir some action.
- Here's a list of 11 companies that are expected to be launched as per media reports. Read more
Published on: 2:35 pm
- Nagpur Power & Industries Ltd has informed that the Company on 1st July, 2021 had purchased equity shares from one of the existing shareholder of “The Motwane Manufacturing Company Private Limited”.
- Further, the company has completed the procedure for transfer of shares in demat mode. Thus, the shareholding of the Company has increased from 75.46% to 78.03% in the material subsidiary Company.
- MMCPL is an R & D based company and has developed various high technology test and Measurement products which have applicability in the domestic and international markets. The company’s products are sold primarily to the power sector and energy intensive industries. Read more
Published on: 2:30 pm
- Indices get further boost with a surge in metal and banking stocks.
- BSE Sensex is at 52,802.07 up 317.4 points or 0.60%.
- Nifty50 is at 15,815.55 up 93.35 points or 0.59%. Nifty Bank is trading up 0.93% at 35,132.45 while Mid-cap Index is up by 0.80%. Read more
Published on: 2:14 pm
- European markets were trading lower on Monday ahead of a crunch meeting of the OPEC+ oil-producing alliance. The pan-European Stoxx 600 dipped with auto stocks dropped 0.8% while basic resources climbed 0.9%.
- As per media reports, British Prime Minister Boris Johnson will outline plans for the final phase of lifting Covid-19 restrictions in England.
- Eurozone purchasing managers’ index data from the region for June will be released today. Read more
Published on: 2:10 pm
- The Nifty Metal stocks rallied 1% amid bullish markets on Monday. Vedanta led the gains while, MOIL Limited, Hindalco and National Aluminium Company Limited (Nalco) also outperformed to lift the sectorial performance. Adani Enterprises and NMDC were under extreme selling pressure.
- Benchmark indices were trading near record highs on Monday, as availability of more COVID-19 vaccines raised expectations of a sustained economic recovery and also hopes for a strong corporate earnings season will start from this week. Read more
Published on: 2:00 pm
- In an aftermath of the monthly and quarterly sales figures, auto companies were trading in the fast lane on Monday. The automakers have announced their June 2021 and Q1FY22 sales data where improvement in demand and sales was witnessed as businesses recovered from the second wave of the pandemic. Also, investors hopes have risen for the upcoming quarter June 2021 quarter where stable growth is on expected lines.
- The normal monsoon onset and rural economic recovery from the Covid-19 also influenced sentiments on the upside. Inflation pressure, however, remains a concern but investors have managed to shrug that off. Read more
Published on: 2:00 pm
- Heranba Industries Limited has announced that it has received Environmental Clearance from Ministry of Environment, Forest and Climate Change of Government of India, for expansion of Pesticides Intermediates, Fungicides, Herbicides, Insecticides Manufacturing at Sarigam, Taluka Umbergaon, District Valsad, Gujarat (Sarigam Plant).
- Heranba has an existing land parcel measuring 55,000 sq.mt. at Sarigam and no additional land will be required for the proposed expansion. Read more
Published on: 1:55 pm
- Asian markets ended on a mixed note on Monday trade ahead of another meeting between OPEC and its allies.
- Tech shares in Asia were mostly lower as the shares of Chinese tech firms in Hong Kong fell as regulatory fears resurfaced. Hong Kong, Tencent shares dragged 3.92%, Alibaba slipped 2.36% and Meituan fell 5.46%.
- The S&P/ASX 200 in Australia rose about 0.09%. Mainland Chinese stocks edged higher as the Shanghai Composite rose 0.44% while the Shenzhen Component was up 0.33%, while Hong Kong’s Hang Seng index fell 0.62%. Read more
Published on: 1:41 pm
- lndoStar Capital Finance Limited on Friday has acquired 25 crores fully paid equity shares of the face value of Rs10 each aggregating to Rs250cr of lndoStar Home Finance Private Limited, a fast-growing wholly-owned subsidiary of the company.
- Subsequent to an investment of Rs250cr, the company's investment in the share capital of lndoStar Home Finance Private Limited increases from Rs200cr to Rs450cr. Read more
Published on: 1:30 pm
- Radhakishan Damani-led Avenue Supermarts reached near its record high level on Monday's trading session on Dalal Street. Investors were upbeat after the DMart operator logged a higher top-line front during the first quarter ending June 2021 (Q1FY22).
- The company has registered a standalone revenue of Rs5,031.75cr in Q1FY22 compared to Rs3,833.23cr a year ago same period.
- The company had posted a revenue of Rs5,780.53cr as of June 2019 and Rs4,559.42cr as of June 2018. Read more
Published on: 1:30 pm
- BSE Sensex is currently 52,823.99 up 339.32 points or 0.65%.
- The Nifty50 is currently 15,815.90 up 93.70 points or 0.6%. Nifty Bank is trading up 0.83% at 35,098.75 while Mid-cap Index is up by 0.81%.
- Hindalco, Tata Steel, Eicher Motors, Larsen & Turbo, and Bajaj Finance are the top gainers while Tech Mahindra, Adani Ports, HDFC Life, BPCL, and HCL Tech are the top losers. Read more
Published on: 1:29 pm
- CRISIL Ratings has reaffirmed its 'CRISIL A1+' rating on commercial paper programme of Navneet Education Limited worth Rs300cr.
- According to the rationale report, the rating continues to reflect an established market position in the educational books segment in Gujarat and Maharashtra, and a healthy presence in the stationery segment in the global market.
- The rating also factors in a healthy financial risk profile, driven by low gearing and comfortable debt protection metrics. Read more
Published on: 1:20 pm
- Orient Refractories Ltd has informed the exchange regarding changing of the name of the company.
- The Company's name has been changed from “Orient Refractories Limited” to “RHI Magnesita India Limited” with effect from 2nd July 2021, pursuant to which a fresh certificate of incorporation was issued by Ministry of Corporate Affairs, Registrar of Companies, Mumbai, Maharashtra.
- Orient Refractories fabricates metal products. The Company manufactures slide gate plates, nozzles and well blocks, tundish nozzles, bottom purging refractories and top purging lances, slag arresting darts, basic spray mass for tundish working lining, and castables. Read more
Published on: 1:17 pm
- Vakrangee has launched its next 5-year growth plan. Under its Strategy 2.0 Document, the company estimates to reach 75,000 branded outlets by the financial year 2025-26. The company's next five-year plan from FY22-FY26.
- The company estimates to reach $50B gross transaction value throughout by end of FY26.
- Further, the company plans to reach 1,000 million transactions by FY26. While it targets 80-100 million customers over the next five years. Read more
Published on: 1:15 pm
- The Nifty Realty inex outperformed on Monday with gains of over 2% in the afternoon session. Individually of all the 10 Nifty Realty stocks, only one is trading in the red i.e. Hemisphere Properties India Limited.
- Benchmark indices were trading near record highs on Monday, as availability of more COVID-19 vaccines raised expectations of a sustained economic recovery and also hopes for a strong corporate earnings season will start from this week.
- At around 1.15 pm, BSE Sensex was trading at 52,829.57 up 344.9 points or 0.66% and Nifty50 at 15,821.15 up 98.95 points or 0.63%. Read more
Published on: 1:10 pm
- Prima Plastics has informed that construction of new manufacturing unit of the company has been started at the Pithampur Industrial Area, Madhya Pradesh.
- The expected commercial production will start from January 2022 at the unit and the same will be intimated in due course, according to the comapny.
- Prima Plastics is the leading manufacturers and exporters of Plastic Products in India. Read more