Handy futures on the Singapore Exchange traded 149.50 points, or 0.84 percent, lower at 17,592.50, indicating Dalal Street was headed for a gap-down start on Tuesday.
The company recorded a loss of Rs 46.14 crore for the March 2022 quarter, which increased from Rs 31.97 crore in the previous quarter. It had made a profit of Rs 96.41 crore a year ago. The rise in electricity and fuel costs and financing costs reached the bottom. Sales were up 20 percent year on year to Rs 1,031.78 crore and sequential growth was 18 percent.
The Cement Major has been named the Preferred Bidder for Diggaon Limestone Block. The company participated in the e-auction by the Government of Karnataka. Adjacent to the company’s Rajashree unit, the block has a total of 530 million tons of cement-grade limestone in an area of 7.86 square km.
JSW Utkal Steel, a subsidiary of JSW Steel, has received the environmental permit from the government to set up a Greenfield Integrated Steel Plant (ISP) with a capacity of 13.2 million tons per year (MTPA) of crude steel. The capital expenditure for the said steel mill project is expected to be Rs 65,000 crore.
Gufic Life Sciences
The company has obtained approval from the Central Drugs Standard Control Organization (CDSCO), Ministry of Health and Family Care to manufacture Isavuconazonium Sulfate API and its completed formulation Isavuconazole for Injection 200mg/vial. Isavuconazole is indicated for the treatment of invasive aspergillosis and invasive mucormycosis.
The gaming and hospitality company has reported lower profits of Rs 48.11 crore for the quarter ended March 2022, compared to a profit of Rs 57.77 crore in the same period a year ago, while revenue for the quarter showed moderate growth. showed at Rs 218.32 crore, up from Rs 211.34 crore year on year. The company also approved the merger of Daman Entertainment and Daman Hospitality.
Maruti Suzuki India
There was a fire at Maruti Suzuki’s R&D center in Rohtak, where a new laboratory extension was being carried out by an outside project company. Two people who worked with the contract company on the project have died and no other injuries have been reported. The company said the incident will not affect the automaker’s production operations.
The technology company has acquired Convergence Acceleration Solutions to expand its consulting capabilities for communications service providers.
JSW Utkal Steel, a subsidiary of JSW Steel, has received the environmental permit from the government to set up a greenfield integrated steel plant with a capacity of 13.2 million tons of crude steel per year. The capital expenditure for the said steel mill project is expected to be Rs 65,000 crore.
The gaming and hospitality company has reported a lower profit of Rs 48.11 crore for the quarter ended March 2022, compared to a profit of Rs 57.77 crore in the same period a year ago. Revenue for the quarter was Rs 218.32 crore, up from Rs 211.34 crore year on year. The company also approved the merger of Daman Entertainment and Daman Hospitality with itself.
Results on April 12
Anand Rathi Wealth, GM Breweries, Hathway Cable & Datacom, Tinplate Company of India, Evexia Lifecare and Gayatri Bioorganics will report their quarterly results on April 12.
Two stocks – Delta Corp and RBL Bank – are under the M&O ban before April 12. Prohibited securities under the M&A segment include companies whose security has exceeded 95 percent of the market-wide position limit.
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