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14-May2019

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The company's Engineering Plastics Business manufactures multiple grades of engineering plastic compounds, catering to the automotive and electrical industries.

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies, India shall cease to be subsidiary of the Company with immediate effect.

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue, Rights Issue or such other capital issues.

Godrej Industries has reported a net loss of Rs 243 crore for the quarter ended March 31, 2019 as compared to net loss of Rs 48.05 crore for the same quarter in the previous year. However, total income of the company increased marginally by 1.55% at Rs 505.53 crore for quarter under review as compared to Rs 497.80 crore for the quarter ended March 31, 2018.

Safari Industries' (India) board has approved funds raising by issue of equity shares of face value of Rs 2 each through Qualified Institutions Placement for an aggregate amount not exceeding Rs 100 crore. The Board of directors of the company at its meeting held on May 13, 2019 has approved for the same.

ITC has reported a rise of 18.73% in its net profit at Rs 3,481.90 crore for the quarter ended March 31, 2019 as compared to Rs 2,932.71 crore for the same quarter in the previous year. Total income of the company increased by 14.27% at Rs 12,946.21 crore for quarter under review as compared to Rs 11,329.74 crore for the quarter ended March 31, 2018.

Innovative Ideals and Services has bagged new order for Fire Alarm & Public Address for supplying & Executing for Runwal EIRENE Tower first phase, project by Runwal Group. The value of the order is Rs 1 crore which is expected to be completed by the end of this year. Total project order value is estimated at Rs 5 crore.


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SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......