Gujarat Ambuja Exports: Eyes on plant expansion
Shares of Gujarat Ambuja Exports will remain in focus as it has decided to establish a greenfield plant at Malda, West Bengal, to manufacture starch, liquid glucose and sorbitol at a cost of about ₹300 crore. The company expects the project to be completed within two years. The second phase of the maize processing plant at Chalisgaon, Maharashtra, which commenced production in March, will be completed by the fourth quarter of the current fiscal.
Capital India Finance to turn ex-rights
Shares of Capital India Finance will turn ex-rights on Tuesday. Investors wishing to participate in the rights need to own the company’s shares by Monday, as the record date is December 19. The company is to issue up to 3.45 crore shares at an issue price of ₹72 a share, aggregating to ₹248.75 crore. Shareholders will be entitled to apply for four rights equity shares for every five equity shares held. The stock may be in demand, as it is currently hovering at around ₹187.
Ortel Comm board to meet for Q2 results
Ortel Communications , which is facing insolvency proceedings, will declare their quarterly results for the period ended September 2018 on Monday. The NCLT-appointed Interim Resolution Professional, Anil Bhatia, will conduct the board meeting to consider the results. For the quarter ended June, the company had reported a loss of ₹13.48 crore and revenues of ₹31.35 crore; for FY18, it had posted a loss of ₹95.27 crore and revenues of ₹184.04 crore.
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