Live: Sensex, Nifty At Day’s High; India VIX Down 4%
Stock Reaction: GMM Pfaudler
The makers of glass-lined reactors entered into a binding term sheet with De Dietrich Process Systems India for itemised sale of their manufacturing facility in Hyderabad.
The facility, equipped to manufacture Glass Lined Equipment will be sold for a total consideration of 6.25 million Euros, the company said in a statement.
The transaction is subject to completion of final due diligence and other documentation.
This acquisition will give us access to ready-made Glass Lined Equipment manufacturing capacity which will further strengthen our presence in the region.Tarak Patel, Managing Director, GMM Pfaudler
Shares gained as much as 4.9% to Rs 4,290, post the announcement.
Stock Reaction: Kalpataru Power Transmission
The company informed the exchanges on Tuesday that it has received new orders worth Rs 956 crore across various geographies.
The orders from India, Africa and the Middle East are for the T&D business while the company's international subsidiary has secured new T&D projects in Europe.
“These new order wins help us to consolidate our leadership position in the T&D market in India and Africa,” Manish Mohnot, Managing Director and CEO of the company said in a statement.
Shares gained as much as 5.1% to Rs 227.5 and are up for the second straight session.
Markets At Noon
- Benchmark indices trade near the day's high
- Nifty up 0.65% to 10,370
- Sensex up 0.8% to 35,191
- Nifty Bank up 1.6% at 21,703
- Nifty Midcap Index up 0.4%
- Nifty Smallcap Index up 0.5%
- India Volatility Index down 3.3% to 28.15
- Nifty Pharma remains top sectoral laggard; down 1.3%
- Nifty FMCG, I.T. and Realty indices are the other sectoral laggards
- Nifty PSU Bank index is the top sectoral gainer; up 2%
- Axis Bank is the top Nifty gainer; up 3.7%
- NTPC remains the top Nifty laggard; down 3.1%
- 901 stocks on the NSE trade with gains while 836 decline
Stock Reaction: Indiabulls Housing Finance
The company has allotted 2,500 secured, redeemable, NCDs of face value of Rs 10 lakh each. The NCDs, aggregating to Rs 250 crore have been allotted on a private placement basis.
A large Indian Public Sector Bank has subscribed to these NCDs, according to the company's exchange filing.
The NCDs are for a tenor of 548 days and will mature on December 30, 2021. The coupon rate for the same is 9% per annum.
In a separate exchange filing, the company also said that the board will meet on July 3, to consider raising of funds through secured or unsecured debt or any other method as decided, either in local or foreign currency, as considered appropriate.
Shares gained as much as 12.1% to Rs 232.4.