DSIJ Mindshare

The share price of Steel Strips Wheels soared on the bourses by over 6 per cent in Thursday’s intraday trade following the announcement that Kalink Co has increased its stake in the steel wheel rims manufacturing company.

The PAT for the quarter came in at Rs. 4.53 crore, yoy increase of 11.3 per cent. This was due to jump in other income to Rs. 1.07 from Rs. 0.41 crore in corresponding quarter. 

India's largest pigment producer Sudarshan Chemical Industries reported standalone revenue for the quarter at Rs. 345.09 crore, registering 14.6 per cent yoy increase.

Post Union Budget 2018, the Indian market has witnessed a bloodbath in the street and corrected like anything. The Nifty in last one week has crashed drastically and is down by more than 1,000 points. This was mainly due to weak global cues which led a sharp correction in the market.

The PAT for the quarter came in at Rs. 8.17 crore, yoy increase of 496.4 per cent. This was partly driven by almost 80 per cent yoy decline in interest expenses.