DSIJ Mindshare

The markets on September 03, 2019 opened gap down. BSE Sensex is trading at 36,617.68, down by 715.11 points and the Nifty is trading at 10,816,45, down by 206.80 points.

The company has agreed to withdraw the arbitration proceedings on receipt of the total payment. Out of this amount, around Rs. 66 crore is towards principal which is already provided for in the books of the company and around Rs. 26 crore is towards interest income which is not yet recognised due to uncertainty.

The company is also is planning to appoint 2,000 people. The company’s manpower cost has grown to 8.2 per cent (as a percentage of sales) in Q1FY20 as compared to 7.8 per cent in the corresponding quarter last year. Talking about the contribution from private labels, the company is hoping to achieve 75 per cent share from the same vs 70 per cent at present.

In the next few months, Sagar Anveshika will undergo outfitting of accommodation areas as well as fitment of scientific instruments in the laboratories. The company aims to deliver the vessel to NIOT by December 2019, again almost 3 months ahead of schedule.

IHS Markit India Manufacturing PMI has slipped to 15-month low of 51.4 in August, compared to growth of 52.5 in July.