Stocks in News
Yasho Industries: The specialty and fine chemicals maker has received board approval for a capital expenditure of Rs 350 crore in Phase 1 for its greenfield project at Pakhajan (Dahej), Gujarat. The company intends to manufacture lubricant additives and rubber chemicals with a total capacity of 15,500 MT per annum in phase 1 at this new facility. Post expansion, the total manufacturing capacity will increase from 11,000 MTPA to 26,500 MTPA with a revenue potential of Rs 500 crore to Rs 550 crore in Phase 1 at full capacity utilisation. The project is expected to be completed in 24 months after receiving all necessary governmental approval.
Indiabulls Housing Finance: The board on March 22 will consider raising of funds via bonds, in one or more tranches, on private placement basis.
Om Infra: The company secured two prestigious contracts from Public Health Engineering Department, Region Churu (Rajasthan).
Oil India: The firm said subsidiary Numaligarh Refinery will invest Rs 6,555 crore for implementation of petrochemical project at Numaligarh, Assam. The board also approved formation of a joint venture company between Assam Gas Company (AGCL) and Oil India (OIL) for the three geographical areas offered by Petroleum and Natural Gas Regulatory Board [PNGRB].
Glaxosmithkline Pharmaceuticals: The company has completed the transaction for sale of its trademarks pertaining to 'lodex' and 'Ostocalcium' brands in India to GlaxoSmithKline Asia Private Limited.
Voltas: The company will enter into a joint venture arrangement with Highly International (Hong Kong), a wholly-owned subsidiary of Shanghai Highly (Group) Company. With this JV, the company will engage in the business of design, development, manufacture, marketing, sale and service of inverter compressors for room air-conditioners, motors for inverter compressors, and their associated parts including sourcing of raw materials & components required for manufacturing these products.