Markets

Buzzing stocks: TCS, NBCC, Lupin, UPL, Astron Paper, Binny, Tata Power, ASI Industries

Tata Consultancy Services plans to launch TCS Pace Port Paris, an advanced research and co-innovation center, right at the heart of Paris’ business district in October 2022. The announcement has been made at Viva Technology, Europe’s biggest start-up and tech event, which takes place from June 15-18, in Paris and online worldwide.

Binny Ltd has called for a Board Meeting on June 18 to consider and approve the proposal finalised by the Company for development of its land into Residential Apartments on Joint Development Model.

NBCC (India) has bagged ₹330.35 crore worth orders in May, it said in a notice to the stock exchanges.

Astron Paper and Board Mill Limited has completed the trial of a new product – Absorbent Paper – successfully at Balaram Papers Private Limited, wholly owned subsidiary, Mehsana, Gujarat. “Taking into consideration the current market situation of paper mills and paper industries, we are unable to continue the plant at its full capacity. However, the production will be carried on as and when the sales orders are received”.

UPL acquires Kudos Chemie Limited in terms of resolution plan approved by NCLT. UPL in 2020 had submitted a resolution plan to National Company Law Tribunal under Insolvency and Bankruptcy Code for revival of Kudos Chemie Limited, which was recently approved by The National Company Law Tribunal, Chandigarh Bench, Chandigarh. As per the resolution plan, UPL Limited would acquire the entire holding of Kudos, which did not carry out operations in last more than five years. Kudos manufactures speciality chemicals used as beverage and pharmaceutical ingredients and has manufacturing facility near Chandigarh. As per the resolution plan approved by NCLT, the Company is required to invest ₹237 crore in Kudos over a period of two years.

Tata Power Solar Systems Limited, a wholly-owned subsidiary of Tata Power Company Limited, commissioned an EPC (Engineering, Procurement, and Construction) project of 66MW for Vibrant Energy.

Global pharma major Lupin Limited has announced that Lupin Diagnostics has launched its first Regional Reference Laboratory in Patna, Bihar. The new Regional Reference Laboratory at Patna has capabilities to conduct a broad spectrum of routine and specialized tests in the fields of molecular diagnostics, cytology, microbiology, serology, haematology, immunology and routine biochemistry.

The board of ASI Industries has approved the Sale of entire investment in Al Rawasi Rocks & Aggregate LLC, Fujairah, UAE, held by the Company and its subsidiary ASI Global Limited, Mauritius, to Injaz Capital Investment LLC, Dubai.

Published on June 16, 2022