Top gainer: Infosys 1,924 ▲ 30 (+1.6%)
Top loser: M&M 3,032 ▼ 97 (-3.1%)
Uflex’s subsidiary to invest $126 million to set up Aseptic packaging facility in Egypt, stock trades higher
Uflex’s shares were trading higher by 0.67% at ₹690.50 per share after the company announced that its step down, wholly-owned subsidiary, Flex Asepto (Egypt) S.A.E, has decided to set up an Aseptic packaging facility in Egypt. The company reported that it will invest $126 million to set up the facility which will result in a capacity addition of 12 billion packs per annum. Uflex stated that the facility will help the company meet the demand for Aseptic packaging in Egypt, Europe, the Middle East, and East Africa. The company will utilise borrowed and owned funds in order to set up the facility. The packaging facility in Egypt is expected to be installed by September 30, 2025. Read more
Vedanta Q2: Firm reports record aluminium production in Q2 and H1; shares up
Vedanta Q2: Metals and mining behemoth, Vedanta Ltd, on Friday, October 4, released its business update for the quarter ended September 30, 2024, after the company reported its highest-ever quarterly and half-yearly aluminium production. It recorded half-yearly alumina production of 1,039 kt, up 21% year-on-year, and aluminium production of 1,205 kt, up 3% year-on-year in the first half, thanks to operational efficiencies. Vedanta also recorded its highest ever second-quarter mined and refined metal production of zinc in India, the exchange filing said. Its refined metal production increased 5% on year to 524 KT in the second half. Read more
Reliance Power, paint stocks, DMart, Reliance Infra: Check top buzzing stocks of the day
Stocks such as Asian Paints, Kansai Nerolac, and Indigo Paints were trading in the red due to a sharp rise in crude oil prices. Crude oil is one of the key raw materials of the paint companies; hence, a rise in raw material prices will impact firms’ profitability; hence the fall. Domestic stocks were trading in the red in the afternoon deals. The S&P BSE SENSEX was trading at 81,928.73, down 568.37 points, or 0.69%. The NSE’s NIFTY50 index was trading at 25,193.30, down 56.80 points, or 0.22%. Read more