Stocks

Stocks that will see action today (June 3)

K. S. Badri Narayanan | | Updated on: Jun 03, 2022

Buzzing stocks: Deepak Nitrite, UltraTech Cement, MTAR Tech, Godrej INdustries, Tech Mahindra 

A massive fire broke out at Deepak Nitrite Limited, a chemical manufacturing company, following multiple blasts at the company’s facility at Nandesari industrial estate near Vadodara on Thursday evening. While several firefighters were rushed to the spot, the initial eye-witness accounts reveal damages to a large part of the factory premises due to the fire and blasts.

UltraTech Cement Ltd on Thursday announced to invest ₹12,886 crore (around $1.65 billion) to add 22.6 MTPA capacity in its total production, with a mix of brownfield and greenfield expansion. The board of the Aditya Birla Group firm in a meeting held on Thursday approved the expansion plans, said an UltraTech Cement in a regulatory filing.

MTAR Technologies has acquired a 100 per cent stake in Gee Pee Aerospace and Defence Private Limited, making it a wholly-owned subsidiary for ₹8.82 crore payable in cash after deduction of borrowings and liabilities.

Godrej Industries has made further investment in Godrej Capital Ltd, its subsidiary on Thursday. Consequently, the company now holds 91.81 per cent of the total paid-up share capital of Godrej Capital Ltd (formerly Pyxis Holdings Ltd). Godrej Industries has increased its holding from 87.11 per cent to 91.81 per cent in GCL. The total paid-up share capital of Godrej Capital Ltd as of date is ₹23.32 lakh. The total consolidated income of GCL for FY22 was ₹54.86 crore.

Cosmo Speciality Chemicals, a 100 per cent subsidiary of Cosmo Films Ltd, announces the launch of Silky SF — a cationic softener. The newly launched product is cost-effective and offers a silky touch to the fabric. The product will be available across the Indian/global market.

Tech Mahindra on Thursday announced a tie-up with Anritsu to establish an Internet of Things (IoT) experience lab at Fremont, California. The lab aims to create a cost-effective environment for 5G IoT device manufacturers to verify device performance, as per a statement.

Published on June 03, 2022
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