Stocks that are likely to record significant movement on bourses today
Neogen Chemicals: All the capacities of the company are currently operating at high utilisation levels, in line with better demand visibility. Revenue growth in the quarter was driven by higher sales of inorganic Lithium-based products as well as a better product mix. Notably, higher sales for inorganic Lithium-based products were recorded despite lower prices of lithium prevalent in 2020.
Chemcon Speciality Chemicals: The total capital expenditure incurred for 9MFY21 has been Rs 25 crore, of which, Rs 21 crore has been done through internal accrual and balance from IPO proceeds. From IPO proceeds, Rs 4.3 crore has been utilised for the expansion of manufacturing facilities whereas, Rs 40 crore has been incurred for the working capital requirement. The company’s new chemical business 4CBC has been successfully commercialised. Besides, it has started contributing to the topline.
TVS Motor: TVS Motor launches TVS NTORQ 125 Super Squad Edition, inspired by Marvel’s Avengers in Nepal.
ABB: Enabling smooth travel and safety of commuters, ABB India Ltd has provided active front end variable speed drives (VSDs) for the ventilation system of Chennai metro line, a key infrastructure project that connects major areas in the city.
PNC Infratech: PNC Meerut Haridwar Highways Private Limited, a wholly-owned subsidiary of the company submitted duly executed financing documents to NHAI. The company has submitted the executed documents as stipulated in the concession agreement and sought confirmation of the financial closure for the project from NHAI.
Bajaj Healthcare: The company reported a minor fire accident at one of its plants i.e. at MIDC, Tarapur (Maharashtra). It is taking steps to ensure normal operation at the plant at the earliest.
Amara Raja Batteries: The board of directors approved setting up a Greenfield lead acid recycling plant with an estimated capacity of 1 lakh tonnes per annum at a total outlay of Rs 280 crore to be spent over the next 18 months. This will help the company to comply with recycling standards whilst adopting advance technology in the most environment-friendly manner. Further, the company is also setting up a 50MW Solar captive power plant in Chittoor District of Andhra Pradesh at a total outlay of Rs 220 crore to support the sustainability initiatives of the company. This will further reduce the cost of power and simultaneously bring down the carbon footprint of the company.