multinational | Business Upturn

Anupam Rasayan shares jumps 7% to Rs 770 apiece

Shivya Kumar — Mon, 30 Aug 2021 07:51:02 +0000

Anupam Rasayan a renowned chemical producer has made a statement stating its recent allegiance with a Japanese multinational company. Claiming to sign a letter of intent of ₹135 crores. To provide them with life science-related chemical products. The company’s shares rose to 5% to ₹770, while Goldiam International rose more than 7% to ₹727 apiece.

The company has also announced a meeting of the board of directors which will be conducted on 13 September 2021, which is acquitted to talk about the equity shares of the company. The company is also global manufacture of diamonds.

Anupam Rasayan will be conducting a collaboration with the Japanese company for over four years now. The company is delivering chemicals for 66 domestic and international customers including 24 multinational companies. The company I said to be one of the leading companies for chemical manufactures since 1984. The company has two sectors Life science which conjures Specialty Chemicals comprising products related to Agrochemicals, Personal Care and Pharmaceuticals, Other Specialty Chemicals comprising Specialty Pigment and Dyes, and Polymer Additives.

PM Modi to visit Varanasi for inauguration of ‘Rudraksh’

Aayushi Singh — Thu, 15 Jul 2021 06:31:39 +0000

On Thursday, PM Narendra Modi would inaugurate an International Cooperation and Convention Centre, ‘Rudraksh’, in Varanasi.

The aim of the convention centre was to offer a glimpse of the cultural richness of the ancient city of Kashi.

In the PMO’s press statement, it mentioned that Prime Minister Narendra Modi would arrive in Varanasi around 12:15 p.m on Thursday and would be spending 5 hours in his parliamentary constituency.

The centre had been constructed with Japanese assistance and the state of the art centre would also make Varanasi a more attractive destination for conferences than before and would lead to draw more tourists and business persons to the city than before.

The officials mentioned that around 108 Rudraksha had been installed at the convention centre and the roof of which was shaped as Shiva Linga. They added that the entire building would glow with LED lights at night and it would be an environmentally friendly building. The centre would be fit for level 3 of GRIHA (Green Raying For Integrated Habitat Assessment).

The two storeys convention centre had been built in the area Sigra over a 2.87-hectare land, which allows a seating capacity of 1,200 people.

The officials said the project aims to provide opportunities for social and cultural interactions between people at the international convention centre in Varanasi. This is expected to strengthen the city’s competitiveness by developing its tourism sector.

It is ideal for holding international conferences, exhibitions and music concerts and other events and the gallery is done up with murals depicting Varanasi’s art, culture and music, officials said.

The convention centre main hall might be partitioned into smaller spaces when the need arises, the Varanasi International Cooperation (VCC) was assisted by Japan’s International Cooperation Agency. The VCC would also be equipped with safety and security systems and would have a normal entrance, a service entrance and a separate VIP entrance which made it an ideal destination to hold different types of International events.

As mentioned by the officials, Prime Minister Narendra Modi would also inaugurate and lay the foundation stones of the multiple development projects which were worth over Rs 1500 crore during this visit to Varanasi today.

SIS Ltd to buyback shares worth Rs 100 crore to reward shareholders

Sanah Shah — Mon, 15 Feb 2021 17:15:13 +0000

Security and Intelligence Services (SIS) Ltd, a private security firm in India, Australia and New Zealand on Monday 15th February declared a Rs 100 crore share buyback program with the purpose of rewarding shareholders.

The security, facility management and cash logistics solutions provider had a very fruitful year for cash flows, generating over Rs 550 crore of operating cash flow within the first nine months of FY2. The company in statement said that this buyback is planned as a decompensation for shareholders who have supported SIS over the years.

In a regulatory stock exchange filing, the company set up by Ravindra Kishore Sinha, stated that its board has agreed to the buyback of 18,18,181 shares at a price of Rs 550 per share which is a 31% premium above the closing price on Friday 12th February.

The shares being bought amount to 1.23% of the total number of fully paid-up equity shares.

SIS is a $1.2 billion Indian multinational with operations across nations — India, Australia, Singapore and New Zealand. The company services more than 7,000 clients in over 18,500 sites spread throughout 630 districts in India.

The stock price of SIS on the NSE was Rs 423.70 as of Monday 15th February, 3:30 PM (market closing) IST.