Aster DM: Aster DM rises 3.5% on India-Gulf business separation
The Aster DM Health care company separated Gulf and India operations after the Board approved in November month. GCC stake acquired by Private equity firm- Fajr have 65% stake in Gulf company, 35% of Promoter holdings. India have 41.88% stake by promoters.
ASTER DM HEALTHCAR Market Price is moving in uptrend line and market has rebounded higher low area of the pattern
In the opening trade on April 4, shares of Aster DM Healthcare surged by 3.5 percent following the completion of the separation of its India and Gulf Cooperation Council (GCC) businesses.
Following the separation, a consortium of investors led by Gulf-based private equity firm Fajr Capital acquired a majority stake of 65 percent in Aster GCC. Meanwhile, the remaining 35 percent stake, along with management and operational rights, will remain with the promoters, the Moopen family.
For the India operations, the Moopen family will retain ownership of a 41.88 percent stake.
Azad Moopen will continue to serve as the founder chairman, while Alisha Moopen will retain her position as a director on the board of the company and also serve as the managing director and group CEO of Aster GCC.
The Indian entity will be led by Nitish Shetty as CEO, with a focus on driving growth in the India business to create shareholder value, as stated by the company.
Aster DM Healthcare announced the completion of the transaction, with its wholly-owned subsidiary, Affinity Holdings Ltd, receiving a cash consideration of $907.6 million.
The decision to separate the Gulf and India businesses was approved by the board of Aster DM Healthcare in November.
KEC: KEC International jumps 8% to 52-week high on securing Rs 816-crore orders
The KEC International bags Rs.816 cr orders from various businesses. Tower orders from US, Steel plant from North India, cement plant from central India, Carbon derivatives from east India. Cable wire orders from India and Gulf countries. Company said Totally Rs.1006 cr order book currently now.
KEC INTERNATIONAL Market Price is moving in Ascending uptrend line and market has rebounded from the higher low area of the pattern
In the opening trade on April 4, the stock price of KEC International surged by 8 percent, reaching a 52-week high of Rs 795.25, following the announcement of securing orders worth Rs 816 crore across its diverse business segments.
The company’s civil business division secured orders for infrastructure projects within India, encompassing the establishment of a steel plant in North India, construction of a cement plant in Central India, and the setup of a carbon derivates plant in East India.
Additionally, KEC International’s transmission and distribution (T&D) business acquired orders for tower supply in the United States, while its cable business received orders for various types of cables both in the domestic and international markets.
On March 22, the company had announced the acquisition of orders worth Rs 1,004 crore across its diverse business segments.
The Ramakrishna Forgings said 4500 MT and 13750MT commencement of production lines in Kolkata plant. This addition of production makes 229150TPA in this year so far. The Addition of production line is come by investing Rs.54cr in this project by Mixing of equity and debt shares.
RAMKRISHNA FORGINS Market Price is moving in Ascending channel and market has fallen from the higher high area of the channel
In early trade on April 4, shares of Ramkrishna Forgings surged following the commencement of operations of new production lines.
The company announced the initiation of commercial production of two new lines: the ENOMOTO 630 Tonnes Press Line and the Maxi Press 6,000 Tonnes Press Line. These production lines, located at Plot No. 1988, Mouza Dugni, PO Kolabira, Dist. Saraikella, Kharswan, began operations on April 3, 2024.
According to the company’s statement, these additions will boost its production capacity by 18,250 tonnes per annum (TPA), raising the total production capacity to 229,150 TPA.
Ramkrishna Forgings invested approximately Rs 54.59 crore for the capacity expansion, in line with its capital expenditure plan, which was financed through a combination of equity and debt.
The 630-tonne press line is expected to reinforce the company’s presence in warm forgings, while the 6,000-tonne press line will help meet increased customer demands.
Don’t trade all the time, trade forex only at the confirmed trade setups.
Get more confirmed trade setups here: forexgdp.com/buy/
