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Hester Biosciences: With respect to the news on Hester tying up with Gujarat Biotechnology Research Centre & OmniBRx towards manufacturing COVID vaccine, the company has informed that a triparty consortium has been formed with the Government of Gujarat as a lead partner to explore the prospects of manufacturing COVID vaccine via technology from Bharat Biotech. The discussions are currently ongoing with Bharat Biotech towards reviewing the infrastructure at Hester, the technology adaption process, and the regulatory compliances. Based on the outcome of the review, the next course of action will be determined.
Trident: The company’s bath & bed linen segment registered revenue growth of 52 per cent and 109 per cent a YoY basis. 92 per cent capacity utilization in bed linen segment. E-commerce own brand revenue in the home textile segment registered 560 per cent growth over FY20. The company has done prepayment of loans of Rs 650 crore in FY21.
Max Ventures & Industries: The company’s subsidiary, Max Speciality Films Limited (MSFL), which manufactures speciality packaging films, will be investing up to Rs 500 million in a new CPP line, having a capacity of 7.2-kilo tonnes per annum (KTPA). The new CPP Line expansion will be funded entirely through internal accruals. Work on the Capex will commence in Q2FY22 and is expected to be commercialised in Q2FY23.
Shalby: Shalby has entered into a definitive agreement to acquire certain assets from Consensus Orthopedics, a company headquartered in El Dorado Hills, Sacramento, California for a cash consideration of USD 11.45 million.
Cipla: India’s prescription business grew by 6 per cent YoY while sequential normalisation is in line with the expectations. The expanded COVID portfolio is expected to see traction along with the core respiratory products. South Africa’s overall business grew by 10 per cent on a YoY basis in local currency.
Rossari Biotech: The company’s revenue from operations stood at Rs 218.2 crore as against Rs 159.5 crore, higher by 36.8 per cent. Its EBITDA stood at Rs 35.2 crore as against Rs 24.0 crore, up by 46.7 per cent. PAT stood at Rs 22.2 crore as against Rs 15.1 crore, higher by 47.1 per cent. EPS (diluted) stood at Rs 4.29 as against Rs 3.06.
Hero MotoCorp: The company is gearing towards a gradual resumption of operations by starting single shift production at three of its plants – Gurugram and Dharuhera in Haryana while at Haridwar in the northern hill state of Uttarakhand – from May 17 (Monday).
Zensar Technologies: Zensar Technologies Inc (USA), the wholly-owned subsidiary of Zensar Technologies Ltd has entered into a definitive agreement for the acquisition of 100 per cent of the membership interests in M3bi, LLC, USA.
Kesoram Industries: The board approved fundraising by issuance and allotment of equity shares up to an aggregate amount of Rs 200 crore, by way of a rights issue.
Ramco Cements: The company has informed about the commissioning of medical oxygen plant at its Ramasamy Raja Nagar Plant.
Just Dial: To optimise discretionary costs, the company had curtailed its advertising spends (both digital & non-digital) from April 2020. During FY21, the company spent Rs 6.8 crore on advertising versus Rs 66 crore spent in FY20. In FY21, the bulk of traffic came organically (without advertising).
Macrotech Developers: The company delivered strong quarterly volumes with pre-sales of Rs 2,531 crore, up by 116 per cent YoY and 36 per cent QoQ. It recorded a strong collection of Rs 2,089 crore, up by 10 per cent YoY and 42 per cent QoQ. Net debt reduced by Rs 544 crore in the quarter, demonstrating strong progress towards becoming net cash positive in three years.
Jindal Stainless: A strong recovery in the domestic stainless-steel demand continued in January-March period, which helped sales volume grow by 15 per cent over the corresponding period last year (CPLY) to 2,55,099 tonnes in Q4FY21.
VST Tillers Tractors: Voluntary retirement scheme (VRS) for all eligible workmen of Bangalore Factory has been accepted and the same has been implemented for the workmen. Further to the implementation of VRS, Bangalore tractor operation has been shifted to Hosur (Tamil Nadu).
Texmaco Infrastructure: The company informed that its offices and manufacturing sites will remain close till May 30, 2021, or till any other date as may be further advised/directed by the government.
Meanwhile, on the earnings’ front, Bharti Airtel, Gujarat Narmada Valley Fertilizers & Chemicals, Colgate-Palmolive (India) Limited and Federal Bank are some of the prominent names, which will be announcing their results during the day along with several others.