Wednesday, 26 July 2017


National Aluminium Company Limited (NALCO) started producing AA 3105 alloy comprising aluminium, manganese and magnesium at the rolling plant of its smelter division.

“With this product, NALCO will be widening its base in value-added products and also be an active partner in the Make in India movement,” said NALCO CMD Tapan Kumar Chand, reported a leading news agency.

The new product is likely to boost the downstream units in electrical components and consumption market in the state of Odisha, fetching advantage in the GST regime, said the report.

National Aluminium Company Limited (NALCO) is a Navratna CPSE under Ministry of Mines. It was established on January 7, 1981 in the public sector, with its registered office at Bhubaneswar.

The company is a group ‘A’ CPSE having integrated and diversified operations in mining, metal and power with sales turnover of Rs 7,933 crore in financial year 2016-17. Presently, Government of India holds 65.36% equity in NALCO.

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Pharma player, Cipla and Medicines for Malaria Venture (MMV) on Wednesday announced the launch of 100 mg Artesunate Rectocaps/Rectal Artesunate Suppositories (RAS), a life-saving, pre-referral intervention for the management of severe malaria in young children.

Initially, developed by the World Health Organization (WHO) Tropical Diseases Research programme, RAS 100 mg manufactured by Cipla was recently added to the Global Fund Expert Review Panel’s list of quality-assured medicines, while the process of WHO pre-qualification of this medicine moves through its final stages. This authorisation makes it the first quality-assured RAS product.

Meanwhile, the stock gained 1.25% at Rs 571.55 per share on BSE. On NSE, the stock attracted a traded volume of 6,38,434 shares and a traded value of Rs 3,628.92 lakh.

The company has a return of equity of 10% for the last three years. The dividend payout of the company is 4.53% of profits over the last three years.  

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Yes Bank has approved a stock split in the ratio of 1:5. Board of the company approved subdivision of existing one equity share of Rs 10 each fully paid up in to five equity shares of Rs 2 each fully paid up, said the company in a BSE filing.

This decision by the board is further subjected to the approval of Reserve Bank of India and shareholders or any other applicable statutory and regulatory approvals.

Commenting on the results and financial performance, Rana Kapoor, Managing Director and CEO, Yes Bank said, “We will be shortly commencing our 14th year of commercial operations one more quarter from now and we remain well on course to achieve our stated objectives for 2020 with yet another quarter of overall satisfactory performance.

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Hindustan Copper Ltd. was buzzing during Wednesday’s trade on the BSE. The stock was trading up by over 7% as the red metal surged to its highest level in more than two years, driven by expectation that demand from China will fuel a global shortage amid plans by the nation that it will curb waste metal imports.

Hindustan Copper was trading at Rs 70.35, up by Rs 4.15 or 6.28% as at 1235 hours on Wednesday, on the BSE. The stock has witnessed a spurt in volume by more than 5.89 times. The stock attracted a traded volume of 29,50,769 shares and traded value of Rs 2,054.92 lakh on the NSE.

Normally, Hindustan Copper sets benchmark copper prices among primary producers in India. Revised every month based on price movements on the LME, currency rates, transportation costs and demand in local markets, copper prices in India move in tandem with global markets.

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The Jaypee group stocks, Jaiprakash Associates, Jaiprakash Power Ventures Ltd., and Jaypee Infratech Ltd. were roaring during Wednesday’s trade on the BSE, while Jaiprakash Associates was the top gainer among them.

Jaiprakash Associates was trading at Rs 29.65 per share, up by Rs 2.75 or 10.22% as at 1251 hours on Wednesday, on the BSE. The stock witnessed spurt in volume by more than 1.06 times. It also traded on new 52-week high value of Rs 29.80.

JP Associates shares rallied about 40% in a month.The stock has been on an upward trend ever since shareholding data showed ace investor Rakesh Jhunjhunwala picked up 2.5 crore shares, or 1% stake, in the company during the June quarter.

Jaiprakash Power Ventures was trading at Rs 8.40 per share, up by Rs 0.62 or 7.97%. The stock witnessed spurt in volume by more than 1.42 times and traded on a new 52-week high value of Rs 8.45.

Jaypee Infratech was trading at Rs 25.10 per share, up by Rs 0.85 or 3.51%. The stock traded on new 52-week high value of Rs 25.20.

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Prestige Estates Projects Limited’s shares rose by over 4% during Wednesday's trading session on the back of the report that the company is likely to raise funds by divesting stake across its business verticals, beginning with the commercial and retail portfolios. 

The stock was trading up by 4.26% at Rs 259.65 per share on BSE at 1138 hours. It opened at Rs 251.80 per share. The scrip touched its intraday high at Rs 270.45 and low at Rs 250.10. 

Its 52-week high and low stood at Rs 291.45 and Rs 141.30, respectively. The company attracted a total traded volume of 6, 43,100 shares and traded value of 1,674.50 on NSE at 1142 hours.

Promoters held 70 per cent stake in the company as of March 2017. 

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At the BIO World Congress on Industrial Biotechnology taking place in Montreal, Canada, Praj Industries Ltd (Praj) and Gevo, Inc. (Gevo) unveiled a new commercial opportunity in renewable bio products, jointly announcing that Gevo’s proprietary is obutanol technology will now be available for licensing to processors of sugarcane juice and molasses. This follows on the back of Praj’s development work, adaptingGevo’s technology to sugar cane and molasses feedstocks.

A Joint Development Agreement and a Development License Agreement were entered into between Praj and Gevoin November 2015. The goal of these agreements was for Prajto adapt Gevo’s is obutanol technology to using non-corn based sugars and lignocellulose feedstocks. The process technology development was performed at Matrix, Praj’s R&D center located in Pune, India.

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