Sheela Foam set to acquire Spanish firm Interplasp
Sheela Foam set to acquire Spanish firm Interplasp
The Board of Directors of Sheela Foam Ltd. approved the proposal to acquire Interplasp S.L., Spain. The acquisition will pave a way for Sheela Foam Ltd. to venture into Europe, which is the world’s largest polyurethane foam market.
Bajaj Finance dips 6 per cent as provisions rise
The shares of Bajaj Finance plummeted 6 per cent in Thursday’s trading session as provisions in Q1FY20 surged 69 per cent to Rs. 551 crore from Rs. 327 crore in Q1FY19.
Tata Motors faces rating downgrade
Fitch Ratings downgraded the credit ratings of Tata Motors to BB- from BB, while also lowering its outlook to negative. Following this, the stock experience negative sentiments on Thursday.
Reliance Industries: Recent developments
RIL reported a steep drop in free cash flows as they declined to the lowest levels seen in the last 11 years. The drop in free cash flows is primarily on account of rising capital expenditure.
FIIs withdraw US$ 1 billion this July
Foreign Institutional Investors (FIIs) have continued selling Indian shares throughout this month of July, bringing the total exit value to as high as US$ 1.2 billion so far!
CG wins 400 MW wind farm contract in Saudi
CG Holdings Belgium NV Systems Division, a wholly-owned subsidiary of CG Power and Industrial Solutions Ltd., bagged a contract for 400 MW wind farm in Saudi Arabia.
L&Ts power business wins big orders
Larsen & Toubro’s power business secured substantial orders from Damodar Valley Corporation (DVC).
Tata Motors incorporates BRAL as subsidiary
Brabo Robotics and Automation Ltd. (BRAL) was incorporated as a wholly-owned subsidiary of Tata Motors. The company holds 100 per cent shareholding in BRAL and has subscribed to 50,000 equity shares of Rs. 10 each. All in all, this amounts to a total cash consideration of Rs. 5,00,000.
L&T Hydrocarbon Engg wins mega project in Saudi Arabia
L&T Hydrocarbon Engineering (LTHE) was awarded yet another mega project in the Marjan Field by Saudi Aramco. This award is received by the consortium of LTHE with EMAS AMC, which is a subsea 7 company.
WPI Inflation sinks to 23 month low in June
The WPI Inflation continued its declining trend as it dropped to 2.02 per cent YoY in June 2019 from 2.45 per cent YoY in May 2019, thereby plummeting to a 23-month low.
Market Close: Weekly Wrap-Up
Merely three indices closed in the green this week, namely: Healthcare, Pharma and Media, while all the others concluded the week on a crimson note.
PGCIL rises for the third consecutive session
The shares of Power Grid Corporation of India Ltd. (PGCIL) were up 1.1 per cent in Friday’s trading session at Rs. 207.55. This marks a gain for the third consecutive session.