Latest News and Updates

10th May, 2022

Ester Industries to sell its engineering plastics biz to Radici Plastics India for Rs289.33 crore

Published on: 4:12 pm

  • Ester Industries Limited, India’s leading manufacturer of Polyester Films and Specialty Polymers announced on May 6, 2022 that it has entered into a definitive agreement to sell its Engineering Plastic Business to Radici Plastics India Private Limited, engaged in the business of manufacturing of Engineering Plastic products in an all-cash slump sales transaction, amounting to INR 289.33 crore.
  • The transaction enables the Ester Industries’ management to better focus on its core business of developing niche and complex products within its core Polyester Films and Specialty Polymer businesses. Read more

Route Mobile (UK) listed as one of the Top 3 fastest-growing Indian companies in UK

Published on: 3:42 pm

  • Route Mobile (UK) Limited, a wholly owned subsidiary of Route Mobile Limited (“RML”) one of the leading CPaaS (Communication Platform as a Service) providers to enterprises, over-the-top (“OTT”) players, and mobile network operators, has been listed as one of the top 3 fastest growing Indian companies in the United Kingdom (“UK”) in the Grant Thornton ‘India meets Britain Tracker’ 2022 report
  • Route Mobile (UK) has consistently featured in the India meets Britain Tracker for three consecutive years. In the latest report, Route Mobile (UK) has moved into the top-3 list with a solid 98% growth rate. It is also the largest technology and telecom company on the list with revenues of £97 million. Read more

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Sutlej Textiles and Industries board nods greenfield project for 89,184 spindles

Published on: 2:40 pm

  • The Board of Directors of Sutlej Textiles and Industries Limited at its meeting held today i.e. 09th May, 2022, have considered and approved setting up of a green field project for 89,184 spindles comprising of Cotton Mélange Yarn and PC Grey Yarn along with Dye House in Jammu & Kashmir at an estimated project cost of Rs914 crore which will be implemented around Q4 FY 2025. The project will be funded through internal accruals and debt.
  • The existing capacity of the Company in yarn production is around 4.21 lakh spindles. The Company operates at around 94 - 95% capacity utilization. Read more

Ramkrishna Forgings wins export order worth Rs105 crore from US-based trailer manufacturers

Published on: 1:43 pm

  • Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has received a multi-year export order worth Rs105 crore per annum from the a leading manufacturer of chassis-related systems and components primarily for trailers as well as for trucks and buses in the USA. The Supplies is expected to commence from CY -2023.
  • Commenting on the order win Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: “We have received another order in the United States from one of the largest trailer manufacturers thereby cementing our strong presence in the country. This order win validates our strong technical and R&D capabilities, product quality, operational excellence, and continuous hard work of our team. Read More

Bajaj Finance increase in FD Rate effective from today

Published on: 12:33 pm

  • Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has increased the Interest Rates on their Fixed Deposit (FD) programme by up to 10 basis points, for tenor between 36 to 60 months. The revised rates on Bajaj Finance FDs of up to Rs. 5 crores are effective from May 10, 2022 and shall be applicable to fresh deposits and renewals of maturing deposits.
  • Post the revision, deposits between 36 months to 60 months will offer a cumulative return as high as 7%. Senior citizens can reap the benefit of upto 0.25% higher FD rates, which will offer assured returns of 7.45% for 44 months. Read more

USFDA issues form 483 to Sun Pharma Halol unit with 10 observations

Published on: 12:29 pm

  • Shares of Sun Pharma trading lower in the noon trade after the US FDA issued a Form-483, with 10 observations.
  • In the regulatory filing, the USFDA conducted a Good Manufacturing Practices (GMP) inspection of Sun Pharmaceutical Industries Limited's Halol facility (Gujarat, India) from April 26 to May 9, 2022. At the conclusion of the inspection, the US FDA issued a Form-483, with 10 observations. Read more

Add-Shop E-Retail opens 18 new franchises in two states for expansion of e-retail biz; Stock zooms 5

Published on: 12:26 pm

  • Add-Shop E-Retail Ltd has announced that the it has opened 18 new franchises in 2 new states i.e in North India and West Bengal during last month. As per the filing, the company has opened 11 new franchises in North India and 7 franchises in West Bengal.
  • "This will boost our retail business in both of this state we are enjoying a good response with our products from both of this states. We received a tremendous response for our ayurvedic healthcare products as well as our agriculture products. There were a good potentiality in both of this state regarding our products", said company. Read more

Surya Roshni bags orders for Rs53.06 crore from GAIL; Stock sheds ~2%

Published on: 12:04 pm

  • Surya Roshni Ltd has informed to the exchanges that it has obtained orders amounted to Rs53.06 crore (including GST).
  • As per the regulatory filing, the project is for supply of API 5L Grade X 70 3LPE Coated pipes from GAIL (India) Limited. Read More

Frontline Corporation receives work order from GHCL

Published on: 11:28 am

  • Frontline Corporation Ltd has received a contract from GHCL Limited for Transportation of Salt for transportation of approx. 40,000 MT in Gujarat for a period upto July 31, 2022.
  • At around 11:35 AM, Frontline Corporation was trading at Rs25.85 apiece down by Rs1.3 or 4.79% from its previous closing of Rs27.15 apiece on the BSE. Read more

HCL Technologies adopts Intelligent Data Migration Platform from Syniti

Published on: 11:03 am

  • HCL Technologies (HCL), a leading global technology company with a strong legacy of SAP innovation, has announced a strategic partnership with Syniti. This collaboration with Syniti, a global leader in enterprise data management that combines AI-driven software and data expertise, will help develop industry-specific data solutions and deliver higher quality SAP S/4HANA transformations.
  • HCL Technologies will adopt the Syniti Knowledge Platform(SKP) as its strategic data migration platform to provide customers with improved data management strategy and higher quality data. SKP will also help deliver a complete data quality assessment and migration service across working and staging environments, ensuring quality data is securely and efficiently migrated from legacy systems  to new SAP solutions. Read more

SRF board approves expansion project of Rs115 crore; Stock trades higher

Published on: 10:32 am

  • The Board of Directors of SRF Limited at its meeting held on May 09, 2022 has approved project for dedicated facilities to produce intermediates for Agrochemicals in the New Plant Structure at Dahej at a cost of Rs115 crore.
  • As per the filing, the proposed capacity addition is 600 to 800 MTPA and the period within which the proposed capacity is to be added by February 2023. Read more

Fire breaks out at Sequent Scientific subsidiary's API facility in Visakhapatnam; Stock under pressu

Published on: 10:11 am

  • Sequent Scientific Ltd has informed to the exchanges that there was an incident of fire at its wholly owned subsidiary Alivira Animal Health Limited’s (Alivira) API facility in Visakhapatnam at around 7:30 pm on Saturday, May 7, 2022.
  • As per the filing, the fire was brought under control soon. There were no casualties or injuries to anyone on site. While manufacturing activities have been affected temporarily, the initial assessment indicates that there might not be any material financial impact on account of this incident, said company. Read more

Suraj Industries receives NOC for grain based distillery; Stock tumbles 5%

Published on: 9:56 am

  • Suraj Industries Ltd has received a "No Objection Certificate" (NOC) for setting up a Grain Based Distillery for manufacture of Ethanol in Talera Block of Bundi district (Rajasthan) with a capacity of 200KL per day, from the office of Excise Commissioner, Rajasthan, Udaipur.
  • At around 9:58 AM, Suraj Industries was trading at Rs99.65 apiece down by Rs5.2 or 4.96% from its previous closing of Rs104.85 apiece on the BSE. Read More

Markets witness volatility; IT, Metals underperform; ONGC, Infosys drag; Asian Paints shines ahead o

Published on: 9:27 am

  • Indian markets recovered early losses of Monday and were opened on a positive note on Tuesday amid weak global cues. However, Sensex and Nifty are in for a volatile session as investors are worried on inflation and the impact of Covid-19 on global growth. Also, weak Asian counterparts limit buying sentiments.
  • At around 9:45 AM, Sensex was performing at 54,456.96 down by 13.71 points or 0.03%. Nifty 50 was trading at 16,333.20 higher by 31.35  points or 0.19%.
  • In the early trading hours, around 09:16 AM, Sensex was trading at 54,578.65 up by 107.98  points or 0.20%. Nifty 50 up by 29.50 points or 0.18% and was trading at 16,331.40. Read more

HCL Technologies to acquire Bengaluru-based Quest Informatics; Stock rises

Published on: 9:17 am

  • HCL Technologies (HCL), a leading global technology company has announced it will acquire, through its wholly-owned subsidiary, a Bengaluru-based Quest Informatics Private Limited (Quest) - an aftermarket, Industry 4.0 and IoT company, in an all-cash deal.
  • Quest currently serves more than 40 global leaders in the aftermarket space with its cloud-enabled aftermarket ERP, field services management, and digital parts catalog product suites. Aftermarket digital spending is one of the fast-growing segments in the transportation and manufacturing industries. Read more

Cipla launches 'RT Direct' Multiplex real time PCR kit for Covid-19

Published on: 9:17 am

  • Cipla Limited on Tuesday has announced the commercialisation of ‘RT-Direct’ multiplex COVID-19 RT PCR Test kit in India, in partnership with Genes2Me Pvt. Ltd. With this Cipla is expanding its diagnostics offering to bring more advance and innovative products.
  • Cipla will be responsible for the distribution of RT Direct kits in India and has commenced supply of the same.
  • This kit is validated at the Indian Council of Medical Research (ICMR) approved Centre. It is based on the ‘gold standard RT-PCR method with coverage of three target genes specific to SARS-COV-2 along with IC, which is much advanced than others having 1 or 2 target genes. This greatly increases the sensitivity of the RTPCR test. Read more

Pritika Auto net revenue increases 20% yoy to Rs271 crore on account of higher sales volume

Published on: 9:16 am

  • Pritika Auto lndustries Limited, among leading manufacturers of tractor components in lndia has announced its audited results for the quarter and year ended March 31, 2022. These financials are as per the IND AS accounting guidelines.
  • Financial Results Highlights for the quarter ended March 31, 2022:
  • Production volumes for Q4 FY22 was at 5,885 tons, as against 10,123 tons in Q4 FY21, since demand from the tractor market witnessed a slowdown during this period. Read More

Bikaji Foods International, Landmark Cars and Cloudnine India receive Sebi nod

Published on: 8:09 am

  • Bikaji Foods International, Landmark Cars Ltd and Cloudnine India have received capital markets regulator Sebi's approval to raise funds through initial public offerings (IPOs).
  • Bikaji Foods and Cloudnine filed their draft red herring prospectus (DRHP) with Sebi in February, while Premium and Luxury Auto Dealer Group Landmark Cars had approached the capital markets regulator in January.
  • The Securities and Exchange Board of India (Sebi) issued its final observations on the draft offer documents last week, which is necessary for launching a public offer. Read more

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