News Wrap: SPML Infra Hikes Up; IPO Of Gujarat Polysol Chemicals; Ruchi Soya FPO; Share Price of Reliance Industries
March 25, 2022:
Sensex and Nifty are all in red today!
BSE Sensex ended 233.48 or 0.41% lower at 57,362.2
NSE Nifty plunged 69.75 or 0.40% to close at 17,153.
Few sectoral indices ended up in green with Nifty Metal, Media, Oil and Gas, rising up minorly by 0.3 - 1%, whereas other sectoral indices were bearish with Nifty Auto, IT, Consumer Durable by 0.5 - 2%.
BSE midcap and smallcap rose by 0.36% and 0.33% each.
Top Stocks On Encome.io Dashboard:
SPML Infra Hits A 5% Upper Circuit After Securing The Isarda Dam Project In Rajasthan
The share price of SPML Infra hits a 5% upper circuit at Rs. 60.75 after the company announced securing a water supply dam project in Rajasthan worth Rs.1,157.08 Crores. There were no sellers with pending buy orders of 6,042 shares.
The firm mentioned in a BSE filing that the company "...has received a new bulk water supply project order from Public Health Engineering Department, Tonk, Rajasthan under the flagship scheme of Jal Jeevan Mission,"
The Isarda dam project in Rajasthan would offer safe drinking water to the districts of Dausa and Sawai Madhopur. “The work will be completed in two years with a year of defect liability period and 10 years of operation and maintenance post-commissioning,” SMPL mentioned.
Gujarat Polysol Chemicals Files Draft Papers With SEBI For Rs. 414 Crore IPO
The chemical manufacturer, Gujarat Polysol Chemicals have filed their draft papers with SEBI to raise the fund of Rs. 414 Crore via Initial Public Offering. The receiving from this issue will be used to repay the debt and for basic corporate purposes of the company.
Promoters Shaileshkumar Balvantrai Desai, Umang Shailesh Desai, and Polysol Financial Services LLP propose to issue new shares worth Rs 87 crore and make an offer for sale for Rs 327 crore.
Gujarat Polysol Chemicals is a significant provider of powder surfactants in India and manufactures chemicals for the agriculture, dye, and leather sectors. In India, it is one of the leading producers of polycarboxylate ethers (PCE) liquid and powder.
More to know:
Ola company has agreed to buy Avail Finance, a financial services startup for blue-collar workers.
The FPO of Ruchi Soya has received 37% of the subscription on the very second day of bidding.
Tata Teleservices' stock touched a 5% upper circuit, having surged more than 1,200%t in the previous year.
Delhi has the third-highest per capita income among states and union territories, with Goa in the first position and Sikkim in the second.
Edible oil prices have risen all around the world as a result of a variety of circumstances, including the conflict in Ukraine.
Brokerage house JM Financial recommended investors to invest in ICICI Lombard and Balrampur Chini Mills.
The share price of Reliance Industries surges in by 10% in the past month.