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RHI Magnesita India acquires Hi-Tech's refractory business for Rs 621 crore

 RHI Magnesita India Limited on Wednesday said it has acquired the refractory business of Hi-Tech for Rs 621 crore in an all-cash deal. RHI Magnesita India Ltd is the leading global supplier of high-grade refractory products used by major industries, including steel, cement, non-ferrous metals and glass. In a BSE filing, the company said it "has executed...with Hi-Tech Chemicals Limited (Hi-Tech) vide agreement for the acquisition of the refractory business of Hi-Tech by way of a slump sale on a going concern basis for a cash consideration of Rs 621 crore". On the objective of the acquisition, RHI Magnesita India said it will strengthen and enlarge its offering to enhance the company's position in the domestic and international flow-control refractory business. Speaking to PTI over the phone, Parmod Sagar, MD & CEO of RHI Magnesita India said, "This acquisition is pursuant to our strategic inorganic growth strategy in India. It testifies to our strong commitment to increasing our ..
19-10-2022

Rush for booking profit drives small-caps, mid-caps down over 2%

 Buying binge by domestic investors, falling crude oil prices and a good start to the quarterly earnings season, however, helped the benchmark indices trim some losses. For the week, BSE Smallcap index shed 2.2 percent, Midcap lost 2.6 percent and Largecap index 1 percent
15-10-2022

Half of top 500 stocks trading below their 200-DMA, shows data

 Analysts said that half of the BSE 500 firms trading below 200-DMA clearly indicates that market sentiment isn't strong and there is heightened selling pressure in the broader markets
12-10-2022

Gainers Losers: 10 stocks that moved the most on October 11

 All the sectoral indices ended in the red with auto, metal, IT, oil and gas and realty indices down 1-3 percent. The BSE midcap and smallcap indices fell over 1 percent each.
11-10-2022

India has reasonably handled the current geopolitical situation: Goyal

 Goyal said that SMEs are an integral part of the India growth story and that more collaboration and participation will add speed to the growth of this BSE SME exchange
10-10-2022

Goyal urges small businesses to look at dual listing by tapping Gift City

 Commerce and Industry Minister Piyush Goyal on Monday urged small businesses to consider dual listing to widen their capital raising options. The minister said small companies have the option to list on the main bourses' SME platforms and also on the Gift City in Gandhinagar. Speaking at an event to mark the 400th listing on the BSE's SME platform, he said there is a need to tap into more sources of capital as that can give a fillip to the small business sector. Possibly you can look at the International Financial Services Centre at the Gift City. We also need to see whether we can encourage some of these companies to explore getting listed through the Gift City platform or a dual listing between Mumbai and the Gift City, he said, adding the same option can also be explored by companies looking at overseas listing. Dual listing will help tap into domestic capital and also the international funds which have set shop or are in the process of doing so at the Gift City, he said. It wo
10-10-2022

BSE revises daily circuit limit for 479 stocks

 Bombay Stock Exchange (BSE), the nation's oldest stock exchange, has amended the daily circuit limit for a total of 479 stocks.
08-10-2022

Gainers Losers: 10 stocks that moved the most on October 7

 Among sectors, metal, healthcare, oil gas and IT were down 0.5 percent each, while realty, power and capital goods ended in the green. BSE midcap index ended flat, while smallcap index rose 0.3 percent.
07-10-2022

This SME consumer electronics stock zoomed 1078% against its issue price

 Shares of CWD hit a new high of Rs 2,121, up 5 per cent on the BSE and zoomed over 1,000 per cent against its issue price of Rs 180 per share.
07-10-2022

Currency volatility to hit earnings of IT firms

 The BSE IT index has declined by more than 27% from its January highs
06-10-2022
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