Symphony’s model ‘Cloud’ has been granted patent rights by South Africa for its innovation. Being wall-mounted like a split air-conditioner, ‘Cloud’ does not occupy any floor space, but unlike a split air-conditioner, does not have any outdoor unit. Therefore, it combines the best attributes of air-coolers with those of air-conditioners. Symphony, which commands 50 per cent market share in the Indian organised air-cooler market, has been focussing on innovative design to create better and eco-friendly products for domestic and industrial customers in various countries across the globe. The stock of Symphony slumped 4 per cent at ₹2,004.70 on the NSE.

DB Realty has signed a term sheet by ECC-DB (a joint venture in which it holds 74 per cent stake) for development of its ‘DB Sky Park’ Project with Xanadu Development Pvt Ltd. According to the term sheet, Xanadu will be responsible for the financial and general management, including construction, development and marketing of the project, situated at Andheri East, near ITC Maratha, Mumbai International Airport. Xanadu would be paid fees based on realisations of the sales price. “The transaction in the term sheet is subject to entering into definitive documentation and due diligence and other conditions,” the company said in a statement to the stock exchanges. Shares of DB Realty edged down 3.5 per cent at ₹72.05 on the NSE.

V-Guard Industries on Tuesday said its board will meet on January 22 to consider a proposal of raising funds. The company, however, did not elaborate on the quantum of funds it plans to raise. Shares of V-Guard settled 0.45 per cent higher at ₹233 on the NSE.

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