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September 17, 2024

GOODLUCK INDIA; Co. inaugurates its hydraulic tubes manufacturing unit with an installed capacity of 50,000 MT at Sikandrabad at an estimated investment of over Rs 200 crore.
The highly specialised hydraulic tubes will replace seamless tubes and act as an import substitute thereby leading to significant savings on foreign exchange
Strong demand for hydraulic tubes to boost the company’s topline and botomline
Co. Says will commence trial production immediately and commercial production tentatively scheduled in the first week of January next year, is likely to shore up the company’s revenues as there is a high demand for indigenously manufactured hydraulic tubes and there not too many players in the
segment at present.
The project would be completely funded through internal accruals
We expect a strong demand both from domestic and international markets. We are expecting a good growth in revenues from this segment moving forward
Hydraulic tubes, being a very specialised and niche product, will command a premium and help shore up the company’s margins. The company is also looking to export nearly 40 per cent of its total production from the plant in markets such as US and Europe where there is a good demand. “The project is a step in line to become a billion-dollar company in the next three-to-four years
Record-Breaking Turnover in Indian Stock Markets (Jan-Aug 2024)
1. Historic Milestone for NSE
a. All-Time High Cash Market Turnover:
- NSE reached a historic milestone, with cash market turnover hitting an unprecedented ₹200 lakh crore from January to August 2024.
This marks a 1.2x increase from the previous record of ₹163.5 lakh crore set in the entire year of 2023.
A remarkable 100%+ growth in NSE's cash market turnover compared to the same period in 2023!
The turnover in just the first eight months of 2024 is 2.5x higher than the full-year figure of ₹83k crore in pre-COVID 2019.
b. Strong Surge in Daily Average Turnover:
- The average daily cash market turnover on NSE surged to ₹1.21 lakh crore, up from ₹66k crore in 2023.
- This is 3.5x the daily average turnover in pre-COVID 2019.
2. BSE Also Seeing Significant Growth:
- BSE’s cash market turnover soared to ₹16 lakh crore in the Jan-Aug 2024 period, compared to ₹12.4 lakh crore for the entirety of 2023.
With both exchanges witnessing unprecedented growth, the timing couldn't be better for a potential NSE IPO
ROYAL ORCHID HOTELS; Update In the case involving Royal Orchid Hotels Limited and Rock Reality Private Limited, the Hon'ble Arbitrator
Royal Orchid Hotels Limited is entitled for refund of the Security Deposit from Rock Reality Private Limited amounting to Rs. 2.14 Cr
Royal Orchid Hotels Limited is entitled for Damages of Rs. 25 Lkh carrying interest . at the rate of 12% from the date of the award.
The relief for a direction to Rock Reality Private Limited to carry out repairs was rejected.
Royal Orchid Hotels Limited is entitled to remove any fit outs and other property owned by it.
All counterclaims of Rock Reality Pvt Ltd, except claim No. 2 (for vacant possession), were rejected. Royal Orchid Hotels Ltd must vacate the property within 12 months, continuing to pay Rs. 43.71/sq.ft in rent and parking charges until then.
Co. Says This order will have a positive impact on the financials of the company however the company is in the process of evaluating the same.
All counterclaims of Rock Reality Pvt Ltd, except claim No. 2 (for vacant possession), were rejected. Royal Orchid Hotels Ltd must vacate the property within 12 months, continuing to pay Rs. 43.71/sq.ft in rent and parking charges until then.
Co. Says This order will have a positive impact on the financials of the company however the company is in the process of evaluating the same.
Stocks in News post Market closure
EIH Limited: the Company, in its Board Meeting held today, has approved an investment to develop a mixed use project in Pune comprising the following:
1. Trident Hotel with approximately 175 keys (1.81 lacs sq. ft.).
2. Commercial development with office space and food and beverage focused retail outlets (4.08 lacs sq. ft.)
And also approved an investment in a company to be incorporated in the United Kingdom.
Royal Orchid Hotels: In the case involving Royal Orchid Hotels Limited and Rock Reality Private Limited, the Hon'ble Arbitrator has issued the following award:-
1. The relief for specific performance was rejected (i.e. renewal of lease)
2. Royal Orchid Hotels Limited is entitled for refund of the Security Deposit from Rock Reality Private Limited amounting to Rs. 2,14,26,000/
3. Royal Orchid Hotels Limited is entitled for Damages of Rs. 25, 00,000/-, carrying interest . at the rate of 12% from the date of the award.
Adani Green / Adani Power : Maharashtra State DISCOM issues Letter of Intent for supply of 6600 MW hybrid solar and thermal power by Adani Green and Adani Power
Suraj Estate Developers : The company Secures Shareholder Approval to raise Rs. 500 Crores via Preferential Issue of Equity Shares and Warrants
Pradhin Ltd: The board has approved funds raising by way of issue of equity shares/convertible instruments/other securities through preferential allotment, right issue, QIP’s, ADR GDR, FCCB or any other method or combination thereof, in one or more trenches
Emami Ltd: the second tranche of this transaction, 7644 equity shares of Helios have been acquired by the Company today i.e. 14th September 2024. Consequently, the Company’s stake in Helios has increased from 94.24 % to 97.08%
STARLINEPS ENTERPRISES LIMITED: the Company has fixed 25th September, 2024 as the Record Date for determine the eligible share holders for both Sub-division of shares and issue of Bonus shares
Spandans Sphoorty Financial Ltd: the Board of Directors of the Company approved the sale of stressed loan portfolio including written off loans. The Company invites Expression of Interest (EoI) from ARC’s, Bank’s, FI’s and eligible NBFC’s for the proposed sale of stressed loan pool aggregating ₹ 304.41 crore.
LASA SUPERGENERICS LIMITED : The Company has been granted patent, by Controller of Patents, for an invention “PROCESSES FOR PREPARATION AND PURIFICATION OF 5-CHLORO-2-NITROANILINE” on 11th Day of September, 2024 for a term of 20 years effective from 19th Day of June, 2020
Zaggle Prepaid Ocean Services Limited : Company has entered into an agreement with Founder link Technologies Private Limited.
Cera Sanitaryware Limited. : EXTINGUISHMENT OF 1,08,333 FULLY PAID-UP EQUITY SHARES HAVING FACE VALUE OF INR 5/- EACH OF CERA SANITARYWARE LIMITED BOUGHT BACK AT A PRICE OF INR 12,000/- PER EQUITY SHARE THROUGH TENDER OFFER ROUTE ("BUYBACK”).
Hero MotoCorp Limited : HERO MOTOCORP CONCLUDES ‘THE CENTENNIAL’ AUCTION WITH RESOUNDING SUCCESS RAISES RS. 8.6 CRORES FOR CHARITABLE INITIATIVES ANNOUNCES CONTEST FOR CUSTOMERS TO WIN THE CENTENNIAL COLLECTOR’S EDITION BIKE.
BLS International Services Limited : The Visametric Vize Hizmetleri ve Danışmanlık Dış Ticaret Anonim Şirketi (Visametric), a step down subsidiary of the Company, has subscribed the share capital of Privredno Društvao Za Usluge Konsultovanja Pri Dobijanju Viza Visametric Doo Beograd (Visametric D.O.O), a Company incorporated under the laws of Serbia, and that Visametric D.O.O will become a Step Down Wholly Owned Subsidiary of the Company (‘SDS-WOS’).
NDR Auto Components Limited : The Company has fixed the October 25, 2024, as the Record Date for the Bonus issue. Bonus Issue 1 : 1.
Zomato Limited : The Company has received an order for the period April 2020 to March 2021 passed by Assistant Commissioner of Revenue, Government of West Bengal confirming demand of GST of INR 5,59,54,319/- with interest of INR 3,69,67,792/- and penalty of INR 55,95,432/-.

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