Market news

3M India Ltd's board of directors has accorded approval for borrowings up to Rs 200 crore for expansion programmes.

Grasim Industries Ltd has said that due to water shortage at Nagda (Madhya Pradesh), it has to curtail production at its staple fibre plant at Nagda which is likely to be closed from June 3 till the onset of monsoon. GIL is, however, operating its other staple fibre plants at Kharach (Gujarat) and Harihar (Karnataka) at their full capacity. The company's Chlor-Alkali Plant at Nagda has also curtailed production to about 50 per cent of its rated capacity of 2,58,000 tpa.

Kavveri Telecom Products Ltd's board of directors on Thursday approved the raising of additional funds by way of issue of QIP/ FCCB/ ADR/GDR or through any other mode of securities.

Neo Corp International Ltd has acquired an Indore-based company Neoflex Infracon Ltd engaged in the infrastructure and construction business by acquisition of its 99.99 per cent shares, making it the wholly owned subsidiary of Neo Corp International Ltd.

PBA Infrastructure Ltd has in joint venture bagged orders worth Rs 425 crore for improvement and widening of Bhuj-Bhachau Road (SH-42, Km 0/0 to Km 77/0) in Gujarat on Build, Operate and Transfer (BOT) basis and the contract will be shared on 49:51 (per cent) basis.