Deep Industries has received a letter from ONGC, Rajahmundry Asset on July 31 for termination of two contracts for hiring of gas dehydration system,. The termination will take effect after 300 days from July 31. The company is exploring all legal options to contest this termination. “The time period offered by the client of 300 days for effective termination would ensure completion of large part of one of the contracts,” the company said and added that despite cancellation of the contracts, its revenue visibility for FY18 remains intact. The stock of Deep Industries slumped 8.5 per cent at ₹221.95 on the NSE.

Polyplex Corporation has informed the exchanges that the board of directors of Polyplex (Thailand) Public Company Ltd, Thailand (PTL) has decided to set up a greenfield PET film line project of 44,000 tpa capacity alongwith upstream resin line and downstream coating plant, in Indonesia at an estimated cost of $95 million (including working capital of $15 million). Thailand PTL is subsidiary of Polyplex Corp in which it has 51 per cent stake. The stock of Polyplex slipped 0.5 per cent at ₹459.1 on the NSE.

Capital First has invested ₹99.99 crore in its wholly-owned housing finance subsidiary Capital First Home Finance by subscribing to the rights issue of equity shares, the parent company informed the exchanges on Tuesday. Shares of Capital First gained 0.3 per cent at ₹774.90 on the NSE.