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Tirupati Sarjan Ltd has informed BSE that the company's subsidiary, Tirupati Development (U) Ltd, has entered into an MoU with the Uganda government to develop business and industrial park in six major cities in the African country. Execution of the contract will generate ₹275-crore revenue in the future. The company also expects the deal to have good profitability and enhance the value of its investment in the subsidiary. Besides, the company has already secured a ₹24-crore order to build a hospital in Uganda. Shares of Tirupati Sarjan jumped 4.15 per cent to ₹64.05 on the BSE.
HIL has commenced commercial production at its newly established AAC Blocks plant in Jhajjar, Haryana, with an installed capacity of 1.5 lakh CuM a year from January 1. The company, which sells AAC Blocks under the brand name of Aerocon, expects the product to cater to the growing market in the Delhi national capital region and other northern parts of the country. Shares of HIL slumped 4.12 per cent to ₹648.50 on the NSE.
Arvind Remedies has informed the exchanges a strike by workers at its unit No. 1 in Kakkalur, Tamnil Nadu, has affected the production in the last few days. The management has initiated conciliation efforts and hope to bring back normalcy at the earliest, the company said in a notice. However, the company did not disclose whether the strike will have any financial implication. Shares of Arvind Remedies crashed 5.25 per cent to ₹29.80 on the NSE.
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