Stocks that are likely to record significant movement on bourses today
Minda Industries: The company has issued the commercial paper of Rs 50 crore and this is in line with the management efforts to bring down the finance cost.
Zensar Technologies: The board of directors has approved the merger of the following US-based 100 per cent step-down subsidiaries into Zensar Technologies Inc., USA, a material wholly-owned subsidiary of the company. The list of companies includes Keystone Logic Inc., Professional Access Limited, Cynosure Inc., and Indigo Slate Inc.
Varroc Engineering: Delta-Q Technologies Corp. and Varroc Engineering Limited enter into an arrangement for contract manufacturing of battery chargers in India.
GAIL: GAIL and Ranchi Municipal Corporation have signed an agreement for setting up of compressed biogas plant.
Indo Count Industries: The Project Management Committee of the board of directors of the company has approved the expansion of its bed-linen capacity by 20 per cent from its existing annual capacity of 90 million metres to 108 million metres by debottlenecking and balancing its facilities. Further, the company proposes to make a brownfield investment for adding commensurate cut & sew facilities as well as for enhancing the capacity for top of the bed (TOB) products. This will entail a Capex of Rs 150 crore.
Zuari Agro Chemicals: The NPK B Plant has been shut down due to a delay in the arrival of raw materials.
NITCO: In the last three months alone, NITCO launched 11 franchise showrooms viz., five in December, one in January, and five more in February. These new showrooms were opened pan India in regions such as Manipur, Madhya Pradesh, Kerala, Jharkhand, Bihar, West Bengal, Punjab, and more. With these additions, the total count of NITCO’s company-owned and active franchise showrooms stands at 10 and 120, respectively.
Vaibhav Global: Shop TJC Limited, UK, a step-down subsidiary of Vaibhav Global Limited has acquired Shop LC GmbH, Germany (a 100 per cent subsidiary).