Rajesh Exports marks record high
Rajesh Exports gained by 9%, to Rs593, on gold, earnings optimism.Gold gained for a fifth session in a row on Wednesday to trade near a three-week high, benefiting from weaker equities after China’s devaluation of the yuan. Optimism is also seen ahead of its quarterly results on Thursday. The company had earlier bought world’s largest gold refiner Valcambi for $400 million. India’s jewellery exports are likely to quintuple to $40 billion if the controls are tightened.
Apollo Tyres to raise Rs2,000 crore debt to fund capex
Apollo Tyres revises its capital expenditure plans; seeks shareholder approval to raise Rs2,000 crore debt to fund capex. Apollo Tyres announced a further capacity expansion plan at its Chennai facility. As against the earlier plan to raise the capacity for truck and bus radial (TBR) tyres by 8,900 tyre per day the company now plans an expansion of 12,000 tyres per day which will entail an expenditure of Rs1,200 crore.The company is seeking shareholder approval to raise Rs2,000 crore debt vide Term loans or NCDs of up to 1,000 crore.
Gayatri Projects synchronizes 2nd unit 660MW of JV
Gayatri Projects – Synchronization of second unit 660MW of JV Thermal Powertech Corporation – Positive for Gayatri Projects.Thermal Powertech Corporation (JV between Gayatri Energy Ventures and SembCorp Utilities) has synchronized its second unit of 660MW with the grid. The commercial operations of the second unit is expected during September 2015. The plant’s first unit of 660MW was synchronized in December 2014 and started commercial operations in February 2015. The development is positive for Gayatri Projects showcasing its ability in power generation projects apart from EPC execution.
Cadila receives USFDA approval to market Amiloride Hydrochloride
Cadila has received the final approval from the USFDA to market Amiloride Hydrochloride Tablets UPS 5 mg. The drug falls in the diuretics segment. Positive for the company
L&T set to bag Rs530-crore contract from Indian Army
L&T is set to bag a Rs530-crore contract to manufacture new bridges for the Indian Army. The report indicate that Army has moved a proposal to purchase over 100 new short span bridges and the project is likely to be given a nod by the defence ministry soon. The 'short span bridge' contract could be awarded to L&T on a single vendor basis as per media report – positive read thru
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