Deepak Nitrite: Innovation and Strong Growth
Deepak Nitrite Limited (DNL) is a chemicals intermediates company based in Gujarat, with a portfolio of over 100 products. The company has been in existence for nearly five decades now and is a market leader in most of its products. DNL’s strategy is to develop products that are dominated by imports and become a market leader in these.  
 
The first project with this strategy was...
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  • Nifty, Sensex Headed Higher – Tuesday closing report
    We had mentioned in Monday’s closing report that Nifty, Sensex were under pressure. The major indices rallied on Tuesday. On the NSE, there were 911 advances, 834 declines and 346 unchanged. The trends of the Indian stock markets in the course of Tuesday’s trading are given in the table below:
     
     
    Sensex and Nifty traded on a flat note during the morning trade session on Tuesday. Traders remain cautious ahead of the Union Budget and a key meting between US and Chinese Presidents Donald Trump and Xi Jinping at the G20 Summit in Osaka, Japan, where the two leaders are likely to discuss the ongoing trade war. Globally, investor sentiment dampened over heightened tension between the US and Iran after American President Donald Trump signed an order imposing financial sanctions on Tehran's senior leaders. This followed Iran's downing of US drone which increased tensions in the region.
     
    Reliance Industries (RIL) plans to raise $1.85 billion from overseas lenders to finance its capital expenditure. The funds are likely to be infused into its telecom unit, Jio, to bolster broadband and e-commerce play ahead of a potential entry into 5G mobile telephony services in future.
     
    Piramal Enterprises is now exploring the sale of its entire stake in Shriram Capital to raise growth capital for its financial services vertical. Last week, Piramal had divested its entire stake in asset financing firm Shriram Transport Finance Company for approximately Rs 2,305 crore.
     
    State-owned specialised financial institution IFCI Ltd hopes to receive about Rs3,000 crore during the current fiscal by selling stake in the National Stock Exchange (NSE), Clearing Corporation of India Ltd (CCIL) and Stock Holding Corporation of India Ltd (SHCIL).
     
    Tata Steel is setting up India's first scrap recycling plant, which will be based in Rohtak, Haryana. The move will give the company an early lead among peers as scrap generation increases in the Indian economy, which is also the fastest growing steel market in the world.
     
    FMCG conglomerate Emami has begun to sell controlling stake in its paper business along with select assets in its cement business, as reported by media sources. The Emami promoters are keen to dispel market concerns and lower their debt burden of around Rs 2,200 crore, which was raised by pledging their shares in listed flagship Emami.
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
     
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    Nifty, Sensex Directionless – Monday closing report
    We had mentioned in Friday’s closing report that Nifty, Sensex may try to rise. The major indices of the Indian stock markets were volatile and closed with losses over Friday’s close. On the NSE, there were 732 advances, 1,044 declines and 327 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:
     
     
    Sensex and Nifty declined during the morning session of the trade on Monday over weak global cues. Globally, investor sentiments were affected due to rising oil prices over tensions in the Middle East. Investors were also cautious ahead of a crucial meet between US President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Japan on June 28-29
     
    Meanwhile in a major development, Deputy Reserve Bank of India Governor Viral Acharya has resigned six months before the scheduled end of his term, sources said on Monday.
     
    Tech Mahindra Ltd on Monday introduced K2, the first Human Resource (HR) Humanoid, for its Noida Special Economic Zone Campus in Uttar Pradesh, after unveiling it in its Hyderabad campus earlier this month. K2 would take over the routine HR transactions to provide constant assistance to the HR team in creating an enhanced employee experience, the company said in a statement. K2 leverages state-of-the-art Artificial Intelligence (AI) technology and initiates conversation without any need for wake-up commands. It can respond to queries with text display along with speech and can address general HR-related employee queries as well as handle personal requests for actions like providing payslip, tax forms and more.
     
    Oil and Natural Gas Corporation may buy ₹5,615 crore worth of compulsorily convertible debentures (CCDs) of ONGC Petro additions Ltd (OPaL) after failing to find an equity investor for its petrochemicals arm, according to media sources.
     
    The planned tranche of CCDs issued in 2016 is part of a Rs7,286-crore CCD programme of OPal, a joint venture between ONGC (49.4%), GAIL (India) Ltd ( 49.2%), and Gujarat State Petroleum Corp. Ltd (1.4%). OPaL used the proceeds to partially finance project expenditures and repay loans.
     
    Shares of UPL Limited recovered on Monday after analysts said the company will not be impacted much because of the trade tensions between the US and China and the spread of African swine fever, which could impact soybean demand in China. 
     
    Glenmark Pharmaceuticals was issued a Complete Response Letter (CRL) by the US health regulator USFDA regarding the new drug application for Ryaltris (olopatadine hydrochloride [665 mcg] and mometasone furoate [25 mcg]), Nasal Spray. The US FDA cited deficiencies in the Drug Master File pertaining to one of the active pharmaceutical ingredients (API) and in manufacturing facilities. 
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
     
     
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