DSIJ Mindshare

Hi-Tech Gears announced creation of a wholly-owned subsidiary at Ontario, Canada, by the name of Neo-Tech Smart Solutions Inc today after market hours. The company bought it for cash consideration of 2.5 lakh Canadian dollars remitted against allotment of 2.5 lakh common shares of 1 Canadian dollar each.

Ahluwalia Contracts (India) Limited has announced that the company has been awarded Rs. 538.76 crore for a project in Lucknow. Shares of the company dipped below 3 per cent.

The PAT for the quarter came in at Rs. 33.48 crore as against Rs. 26.87 crore in the corresponding quarter last year, an increase of 25 per cent YoY. This jump in profit was mainly due to sharp decline in effective tax rate to 8 per cent in Q2FY19 from 21 per cent in Q2FY18.

The company reported highest ever quarterly profit and turnover, on Tuesday. The stock of Aksh Optifibre closed at Rs. 26.55 per share, up by 3.51 per cent on the BSE exchange.

Automaker TVS Motors posted revenue of Rs. 4,994 crore for Q2FY19, registering an increase of almost 22 per cent from the corresponding quarter last year.