HFCL Wins Rs 1,015 Crore Order from Madhya Pradesh Jal Nigam
HFCL shares were up 6 percent in early trade on September 18 after the company won an order worth Rs 1,015 crore from Madhya Pradesh Jal Nigam. The order entails providing EPC services including laying of optical fiber cables for the execution of a multi-village drinking water supply network in the Sheopur district of Madhya Pradesh.
The project is to be executed within 24 months from the date of order and will be followed by a 3-month trial run. HFCL will then provide operation & maintenance services for 10 years, including a 1-year defect liability period.
This is the third major order that HFCL has won in recent months. In September, the company and its subsidiary received orders from a telecom player to supply optical fiber cables worth Rs 82.60 crore. In June, HFCL bagged a Rs 80.92-crore order from the Delhi Metro Rail Corporation (DMRC) for the design, manufacture, and installation of a fibre optics transmission system for three corridors of Phase IV of the Delhi Metro.
HFCL is a leading telecommunications solutions provider in India. The company’s aggressive expansion plans are seen as a positive sign for the Indian telecom and infrastructure sectors.
- 22 Sep
NBCC shares trade higher on Rs 100 crore work order from SAIL
NBCC shares were trading 3 percent higher on September 22 after the company announced having bagged a work order worth Rs 100 crore from SAIL. This is the fourth order-win announced by the company in this month, the total value of the same being Rs 450 crore. NBCC is a public sector undertaking engaged in the business of construction and real estate development. The company specializes in providing project management, consultancy and engineering services for civil construction, infrastructure development, and real estate projects.
- 22 Sep
Glenmark Pharma stock falls on stake sale in Glenmark Life Sciences
Glenmark Pharma stock fell after the company announced it would sell a 75% stake in its subsidiary Glenmark Life Sciences to Nirma. Analysts expect the stake sale to benefit Glenmark Pharma, as it will transition from a net debt position to a cash surplus position. This is expected to have a positive impact on the company's return ratios over the next two to three years.
- 22 Sep
Berger Paints Shares Hit 52-Week High After Turning Ex-Bonus
Berger Paints shares surged 6% to hit a 52-week high after turning ex-bonus on the record date for the issue of bonus shares in the ratio 1:5. The company posted a net profit of Rs 326.3 crore in the April-June quarter of FY24, up 39% year-on-year, on revenue of Rs 2,739.7 crore, up 10% year-on-year. The company expects to get net cash positive by the end of this fiscal year and expects to end the year with double-digit revenue growth on strong demand outlook.
- 22 Sep
Market Update for September 22, 2023
IdeaForge Tech up 3.4% on order RVNL up 3% on highway MoU JSW Steel up 0.4% on sale ICICI Lombard down 1.6% on CEO exit ICICI Bank down 1% on healthcare investment NHPC up 1.3% on extended additional charge Kalyani Forge up 3.2% on new MD IRB Infra up 2.5% on road project closure
- 22 Sep
Lux Industries Shares Down 3% After Income Tax Raid
Lux Industries shares fell 3% on September 22 after news emerged that the Income Tax department had conducted searches at the company's premises in Kolkata and alleged a tax evasion of Rs 200 crore. The company has confirmed the searches and is extending full support.