Strides Pharma Science, Tata Motors and Acrysil to see some action today

Strides Pharma Science has successfully completed the EU GMP inspection carried out by the National Institute of Pharmacy and Nutrition (OGYÉI), Hungary at its Puducherry facility. The inspection was carried out on April 28, 2021 and the company has now received the renewed GMP (Good Manufacturing Practices) certificate thereby confirming the successful closure of the inspection.

Tata Motors is planning to have 10 new battery electric vehicles (BEVs) in its domestic product portfolio by 2025 as it looks to drive its business model towards sustainable mobility going ahead. The auto major aims to be amongst the world leaders in sustainable mobility solutions and as part of that it is also exploring tie-ups in cell and battery manufacturing to secure supplies for its portfolio of green vehicles.

Acrysil is planning to expand production capacity of Quartz Kitchen Sinks from 700,000 units p.a. to 840,000 units p.a. i.e. an additional capacity of 140,000 units p.a. (20% of its existing production capacity) at its Bhavnagar plant in Gujarat. The expansion in production capacity is to meet the growing demand of Quartz Kitchen Sinks in global market. The proposed Capital Expenditure involves an investment of Rs 15 crore approximately which would involve investments in Plant & Machinery, Utilities and other infrastructure.

SpiceJet is planning to raise funds through issuance of equity shares or debt instruments and the proposal will be discussed at its board meeting on June 30, 2021. The proposal comes at a time when the airline industry is grappling with strong headwinds due to the coronavirus pandemic that has also resulted in less occupancy in many flights.

South West Pinnacle Exploration has got a work order for Exploratory Core Drilling of 2850m (+/-20%) in parts of Sidhi, Singrauli, Jabalpur and Katni districts of Madhya Pradesh awarded by NMDC. The aggregate value of contract is Rs 1.94 crore approximately including GST which shall be completed by FY 2021-22.

Sambandam Spinning Mills has resumed manufacturing activities and operations at all production units including its Corporate Office as per government guideline and permission , and will be scaled up in future as per relaxation provided by regulators from time to time. The Company has taken proper steps to ensure smooth functioning of operations. Earlier, the manufacturing /operations activities were temporarily suspended from May 24 2021, in pursuance of guidelines of the Government of India issued against the spread of COVID-19.

Piramal Enterprises has decided to raise up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis. The administrative committee of the board has approved the issue of secured, rated, listed, redeemable principal protected, market linked NCDs on private placement basis.