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Buzzing stocks: HCL Tech, Vodafone Idea, Asian Paints, Cipla, Gujarat Gas, Chemplast Sanmar, MRF, SRF, Sutlej Textiles, Suraj Ind

HCL Technologies (HCL) has announced a strategic partnership with Syniti. This collaboration with Syniti, a global leader in enterprise data management that combines AI-driven software and data expertise, will help develop industry-specific data solutions and deliver higher quality SAP S/4HANA transformations. In a separate statement, the company said it will acquire, through its wholly owned subsidiary, a Bengaluru-based Quest Informatics Private Limited (Quest) – an aftermarket, Industry 4.0 and IoT company, for ₹15 crore.

The board of SRF Ltd has approved project for dedicated facilities to produce intermediates for Agrochemicals in the New Plant Structure at Dahej at a cost of ₹115 crore.

Frontline Corporation Ltd has received a contract from GHCL Ltd for transportation of salt for approx. 40,000 MT in Gujarat for a period upto 31.07.2022.

Suraj Industries Ltd has received a “No Objection Certificate” under Rule 3(1) of Rajasthan Distilleries Rules, 1977, for setting up a grain based distillery for manufacture of ethanol in Talera Block of Bundi district (Rajasthan) with a capacity of 200KL per day, from the office of Excise Commissioner, Rajasthan, Udaipur.

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The board of Sutlej Textiles and Industries Limited has approved setting up of a green field project for 89,184 spindles comprising of Cotton Mélange Yarn and PC Grey Yarn along with Dye House in Jammu & Kashmir at an estimated project cost of ₹914 crore. The project will be implemented around Q4-FY2025. The project will be funded through internal accruals and debt. The existing capacity of the company in yarn production is around 4.21 lakh spindles. The company operates at around 94 -95 per cent capacity utilisation.

Bhageria Industries has received environment clearance for setting up manufacturing plant of ‘synthetic organic chemicals’ in Valsad.

Elcid Investment shareholders reject delisting proposal. It is owned by the Arvind Vakil family, which is among the promoters of Asian Paints, along with the Dani and Choksi family. The company board had fixed the floor price at ₹1.61 lakh per equity share.

Results Calendar: Asian Paints, Ajanta Pharma, Alstone Textiles, Ashoka Metcast, Ashish Polyplast, Avadh Sugar, Avro India, Bentley Commercial, Cipla, Cera Sanitaryware, Chalet Hotels, Chemplast Sanmar, Chowgule, Daiichi, Dishman Carbogen Amcis, Elantas Beck India, Electrosteel Castings, EPL, Gujarat Gas, Hindustan Motors, Inspirisys, Kansai Nerolac Paints, Max Financial Services, Mahanagar Gas, MRF, Polycab India, Neuland Laboratories, Orient Electric, Reliance Capital, R Systems International, Shemaroo Entertainment, Tajgvk Hotels & Resorts, TD Power Systems, Torrent Power, Venky’s (India), Vodafone Idea and Welspun India.

Published on May 10, 2022