State Gujarat Financial News

Bohra Industries Ltd.(up 4.77%) and Krishana Phoschem Ltd.(up 0.29%) were among the top gainers.

NLC India through an offer for sale (OFS) this week, to raise up to ₹2,200 crore ($266 million) at current prices, Reuters reported Wednesday citing sources. The report said the government will offer to sell 5% of its stake in the state-run firm with an option to sell an additional 2% stake if there is more demand. The government holds a 79.2% stake in NLC India as of December 2023, whose shares have nearly tripled over the last year to ₹226.70 as of Wednesday.

Coal India, 360 One Wam , Gujarat State Fertilizers & Chemicals Ltd, Gujarat Narmada Valley Fertilizers & Chemicals Limited, Oil and Natural Gas Corporation , Tech Mahindra, PTC India, ITC , Power Grid Corporation of India , Oil India are amongst top 10 dividend yield picks of Religare Stock Broking. The dividend yield is a financial ratio that shows how much a company pays out in dividends each year relative to its stock price. Dividend yield of 3-5% or more is considered to be good.

SJVN Ltd on Sunday said its arm SJVN Green Energy has bagged a 200 MW solar project in an e-Reverse Auction conducted by Gujarat Urja Vikas Nigam. This project is to be developed by SJVN Green Energy on a build-own-and-operate basis at the tentative development cost of Rs 1,100 crore, a company statement said. According to the statement, SJVN bagged the 200 MW capacity in the tariff-based competitive bidding for the development of solar projects in the 1,125 MW Gujarat State Electricity Corporation Limited (GSECL) Solar Park at Khavda, Gujarat. SJVN through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL) has secured a 200 MW Solar Project at a tariff of Rs 2.66 per unit in an e-Reverse Auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL).

Want to take exposure to a sector which grows much faster than GDP

Cochin Shipyard, Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL) and Mazagon Dock Shipbuilders defied weak market sentiment on Wednesday, jumping between 4-12 per cent in intraday trade. PSU stocks have been on a tear for the last one year. Data show that shares of IRFC have surged over 300 per cent while those of CPCL, REC, ITI and Power Finance Corporation have jumped between 230-270 per cent.

Sikko Industries Ltd.(up 4.97%), Zuari Agro Chemicals Ltd.(up 3.17%), Southern Petrochemicals Industries Corporation Ltd.(up 2.57%), Rashtriya Chemicals & Fertilizers Ltd.(up 2.30%), Nagarjuna Fertilizers and Chemicals Ltd.(up 2.24%), National Fertilizers Ltd.(up 1.40%), Madras Fertilizers Ltd.(up 1.29%), Agro Phos India Ltd.(up 1.27%), Mangalore Chemicals & Fertilizers Ltd.(up 1.19%) and Gujarat State Fertilizer & Chemicals Ltd.(up 1.13%) were among the top gainers. Bohra Industries Ltd.(down 1.90%), Aries Agro Ltd.(down 0.49%) and Rama Phosphates Ltd.(down 0.32%) were among the top losers.

Zuari Agro Chemicals Ltd.(up 2.26%), Gujarat State Fertilizer & Chemicals Ltd.(up 1.83%), Madhya Bharat Agro Products Ltd.(up 1.20%), Paradeep Phosphates Ltd.(up 0.89%), Krishana Phoschem Ltd.(up 0.87%), The Fertilisers and Chemicals Travancore Ltd.(up 0.42%), Agro Phos India Ltd.(up 0.42%), Rama Phosphates Ltd.(up 0.21%) and Khaitan Chemicals & Fertilizers Ltd.(up 0.20%) were among the top gainers. Mangalore Chemicals & Fertilizers Ltd.(down 1.86%), Sikko Industries Ltd.(down 1.34%), Rashtriya Chemicals & Fertilizers Ltd.(down 0.98%), Nagarjuna Fertilizers and Chemicals Ltd.(down 0.72%), Madras Fertilizers Ltd.(down 0.67%), National Fertilizers Ltd.(down 0.54%), Southern Petrochemicals Industries Corporation Ltd.(down 0.48%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(down 0.35%), Coromandel International Ltd.(down 0.29%) and Aries Agro Ltd.(down 0.19%) were among the top losers.

Global Investors Meet 2024 organised by the Tamil Nadu government here. “Don't oversubsidize manufacturing and think that's the only part to growth... Services are also a big part of the growth story, and let's not treat services as a stepchild less valuable, less amenable to low-skilled jobs.

By Praveen Paramasivam

Tamil Nadu has signed investment pacts worth more than $4.39 billion with firms such as Apple suppliers Tata Electronics and Pegatron, as well as auto major Hyundai Motors, it said on Sunday during the state's Investor Summit. Apple is counting on India as the next big driver of its growth as the tech giant looks to diversify some production away from China, with Pegatron working towards a second factory in the country where Tata Group last year began to assemble iPhones.

CHENNAI : India's southern state of Tamil Nadu has signed investment pacts worth more than $4.39 billion with firms such as Apple suppliers Tata Electronics and Pegatron, as well as auto major Hyundai Motors, it said on Sunday. Apple is counting on India as the next big driver of its growth as the tech giant looks to diversify some production away from China, with Pegatron working towards a second factory in the country where Tata Group last year began to assemble iPhones. Tata Electronics, a part of the Indian conglomerate, committed to invest ₹12,080 crore for mobile phone assembly operations, the state government said during the signing of the agreements.

stood among the top gainers. Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(down 4.81%), Chambal Fertilisers & Chemicals Ltd.(down 3.58%), Khaitan Chemicals & Fertilizers Ltd.(down 3.00%), Agro Phos India Ltd.(down 2.97%), Paradeep Phosphates Ltd.(down 2.96%), Madras Fertilizers Ltd.(down 2.63%), Gujarat State Fertilizer & Chemicals Ltd.(down 2.46%), Southern Petrochemicals Industries Corporation Ltd.(down 2.30%), National Fertilizers Ltd.(down 2.15%) and Rashtriya Chemicals & Fertilizers Ltd.(down 2.12%) were among the top losers of the day.

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AHMEDABAD : India's Gujarat state on Wednesday signed initial investment agreements worth ₹7.17 trillion ($86.07 billion) with 58 companies operating in sectors such as energy, oil and gas, and chemicals, its government said. The home state of Prime Minister Narendra Modi, Gujarat has been signing these agreements ahead of its biennial Vibrant Gujarat Global Summit, which is scheduled to take place in state capital Gandhinagar from Jan. 10 to Jan.

KHAVDA: Rising from the bare expanse of the large salt desert that separates India from Pakistan is what will likely be the world's largest renewable energy project when completed three years from now. The solar and wind energy project will be so big that it will be visible from space, according to developers of what is called the Khavda renewable energy park, named after the village nearest to the project site. At the site, thousands of laborers install pillars on which solar panels will be mounted.

Shifting to renewable energy is a key issue at the ongoing COP28 climate summit

blast killed seven people and injured 24 at a plant of Indian specialty chemicals maker Aether Industries in the western port city of Surat, the company confirmed on Thursday. The cause of the explosion early on Wednesday has yet to be determined, said city fire official Omprakash Mishra, although a fire it started had been put out.

weather bulletin said it expects "likely heavy rains" at isolated places over Cuddalore, Kancheepuram, Ranipet, and Tiruvallur districts in Tamil Nadu today on November 26. A "light to moderate" rainfall warning has also been issued for Puducherry till November 26. "For the next two to three days, as far as Tamil Nadu and Pondicherry are concerned, light to moderate rainfall is expected.

e India Meteorological Department on Thursday predicted isolated heavy to very heavy rainfall for the northern part of the state for today. As hilly areas witnessed landslides and mudslides in Idukki and Pathanamthitta districts, intense waterlogging affected the normal life of people in several places, cutting across villages and towns. Continuous rains flooded several low-lying areas of Thiruvananthapuram, disrupting normal life and creating traffic snarls.

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