HCL Tech may rise on buyback plan

HCL Technologies said its board will meet on 12 July 2018, to consider a proposal for buyback of the equity shares. The announcement was made after market hours yesterday, 9 July 2018.

Gujarat State Fertilizers & Chemicals (GSFC) announced that the Department of Fertilizers, Government of India has agreed to release the subsidy on Ammonium Sulphate to the company for the period from 18 March 2013 to 5 March 2017. This should help in getting a subsidy of Rs 693 crore held up for the said period, it added. The announcement was made at the fag end of the trading session yesterday, 9 July 2018.

SRF announced setting up of a second Bi-axially Oriented Polyethylene Terephthalate (BOPET) film line and a Resin plant in Thailand at an investment of approximately $60 million. This new plant will be put up at the company's existing manufacturing location in Rayong, Thailand by its wholly owned subsidiary - SRF Industries (Thailand) and is expected to become operational in close to two years. Once operational, the new line will be capable of producing approximately 40,000 metric tonnes per annum. The announcement was made after market hours yesterday, 9 July 2018.

Gayatri Projects said it has been declared as L-1 bidder for Development of Purvanchal Expressway Project (Package-I) valued at Rs 1483 crore and Development of Purvanchal Expressway Project (Package-II) valued at Rs 1276 crore. The announcement was made after market hours yesterday, 9 July 2018.

Astral Poly Technik said its board approved the acquisition of 51% equity share capital of Rex Polyextrusion for Rs 75.22 crore. It also approved amalgamation of Rex Polyextrusion with the company. The company shall issue its equity shares in exchange of remaining 49% equity shares of Rex Polyextrusion under the scheme of amalgamation. The board also approved the draft scheme of amalgamation, valuation report and other relevant documents in relation to the scheme of amalgamation. The scheme is subject to applicable statutory and regulatory approvals including approval of the National Company Law Tribunal. The announcement was made after market hours yesterday, 9 July 2018.

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