Bodal Chemicals enters agrochemicals sector

Bodal Chemicals Ltd, a manufacturer and seller of dye and dye intermediates, announced its entry into agrochemicals sector by floating a wholly owned subsidiary called Bodal AgroTech. The newly formed company will also set up a single super phosphate (SSP) plant involving an investment of Rs31 crore.

The SSP plant will have a capacity of 3.5 million tonnes per annum (MTPA). It is expected to be ready in 18 months of ground-breaking. The plant, when fully operational, is expected to generate a turnover of Rs240 crore per year, Bodal Chemicals said in a statement.

Bodal AgroTech will also produce NPK mixed fertilisers (nitrogen-phosphorous - potassium) that is used in different concentrations for various crops.

On Thursday, Bodal Chemicals shares ended 3.8% down at Rs33 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.4% to 19,417 points.

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ARSS Infra wins contract worth Rs163 crore from Mizoram government

ARSS Infrastructure Projects Ltd said it has received a contract worth Rs163 crore from the Public Works Department (PWD) of Mizoram.

The Bhubaneswar based company recently received a contract worth Rs93.7 crore from Rajasthan State Road Development & Construction Corporation Ltd, Jaipur, the company said in a regulatory filing.

On Thursday, ARSS Infrastructure shares gained 0.5% to Rs1,267 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.4% to 19,417 points.

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S Kumars Nationwide raises Rs231 crore via QIBs

Textile company S Kumars Nationwide Ltd, said it raised Rs231 crore from qualified institutional buyers (QIBs) on private placement basis to fund its expansion plans.

The company had earlier planned to raise an amount of Rs500 crore by issuing shares to QIBs, which was opened on 13th September.

The company however noted that the board of directors may continue to explore various options for raising the balance amount of funds as approved in the shareholders resolution.

On Thursday, S Kumars Nationwide shares ended 0.1% down at Rs79 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.4% to 19,417 points.

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