The share price of Laxmi Organic Industries Ltd. has increased by 88.76% in last 3 months, while the benchmark index S&P BSE Sensex has increased by 9.80%.
The stock has been rallying since last three weeks after the company delivered a robust financial performance for the quarter ended June 2021 (Q1FY22).
The company’s consolidated net sales has increased by 82% YoY to Rs 736 crore in Q1FY22. Revenue growth was fueled by an increase in acetyl intermediates and specialty intermediates .
The acetyl intermediates business’s strong performance was due to higher realizations, whereas the specialty intermediates business was driven by both volume and pricing. Demand from end-user industries remained strong as well.
This resulted in EBITDA and PAT growth of 246% and 379%, respectively, YoY.
Bharat Heavy Electricals Limited (BHEL) and JSC Rosoboronexport have signed a Memorandum of Understanding (MOU) to collaborate and implement potential joint projects and activities.
According to the regulatory filing, the MoU aims to cooperate and implement possible joint projects and activities with BHEL for joint production of spare parts and components for Russian-origin equipment installed onboard the Indian Navy Aircraft Carrier “Vikramaditya” and maintenance of Aircraft Carrier “Vikramaditya” systems and equipment, as well as other issues of mutual interest.
The share price of Sudarshan Chemicals Industries Ltd. has increased by 35.49% in last 6 months, while the benchmark index S&P BSE Sensex has increased by 14.31%.
The stock has been rallying after the government imposed an anti-dumping duty on natural mica-based pearl industrial pigments. Sudarshan Chemicals is the sole producer of pigment in the country.
According to the finance ministry, the pigments were exported at a price lower than their normal value, resulting in dumping. According to a statement, this has caused material harm to the domestic industry.
The anti-dumping duty on natural mica-based pearl industrial pigments, excluding cosmetic-grade products, will be imposed for a five-year period, according to the finance ministry.
Sudarshan produces a wide range of Organic, Inorganic, and Pearlescent pigments and dispersions for the Coatings, Plastics, Inks, and Cosmetics industries around the world. Sudarshan also produces agrochemicals.
The share price of Carborundum Universal Ltd. has increased by 30.69% in last 3 months, while the benchmark index S&P BSE Sensex has increased by 9.80%.
The stock has been in the news after the company announced that it has entered into a definitive agreement to acquire a controlling stake in PLUSS Advanced Technologies Private Limited (PLUSS) for Rs 115 crore.
The investment is proposed to be made by purchasing PLUSS equity shares from existing shareholders, including promoters, as well as subscribing to additional PLUSS equity capital.
“CUMI has entered into a Shareholders Subscription Agreement with PLUSS and its existing promoters, as well as share purchase agreements with its existing shareholders, including Tata Capital Innovations Fund, a Venture Capital Fund of Tata Capital, a financial investor in the Company, today, August 26, 2021. After PLUSS’s capital is increased, CUMI will own approximately 72% of the company “In a filing, the company stated.
CUMI, part of the Murugappa Group, stated that as a material science-oriented company, PCM will provide opportunities in emerging areas of material science with applications in energy storage and conservation in life sciences, health care, food, agriculture, buildings, refrigeration equipment, and HVAC.
The stock rose after NLC India Limited said in a filing on Thursday that it had allotted 10,000 Nos. of Commercial Paper with a face value of Rs5 lakh each, totaling Rs.500 crore, on August 25, 2021.
The company reported a drop in net profit for the fiscal quarter ending June 30, 2021 earlier this month. The PSU made a net profit of Rs.267.22 crore, compared to Rs.292.54 crore in the previous year’s corresponding period.
NLC India Limited (formerly Neyveli Lignite Corporation Limited) is a Government Company whose primary activities are mining (coal and lignite) and power generation (Thermal and Renewable Energy).
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