Mangalam Cement Ltd launches new product ‘Mangalam ProMaxX’

Mangalam Cement Ltd has launched a new Product under the brand “Mangalam ProMaxX” an environment friendly Premium PPC cement in a virtual launch event on Sunday, October 18th 2020. “Mangalam ProMaxX” is a premium quality fly ash based PPC cement with high one-day strength and also with high 28 days’ ultimate strength. “Mangalam ProMaxX” will be supplied in Laminated Polypropylene (LPP) bag packaging. Shares of MANGALAM CEMENT LTD. was last trading in BSE at Rs.192.3 as compared to the previous close of Rs. 185.5. The total number of shares traded…

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Dwarikesh Sugar Industries Ltd commences new Co2 Plant at Dwarikesh Nagar

has on 17th October, 2020 commissioned a 40 MT per day capacity Co2 plant within the precincts of its distillery at Dwarikesh Nagar unit. The plant envisages capturing of Co2 emission from distillery operations and selling the same on commercial basis which would commence from the 19th October, 2020. Though a small, yet a very significant step, as it reinforces the company’s commitment to provide clean & healthy environment to the society. The sale from said product would be classified under the head “Miscellaneous sales”. Shares of DWARIKESH SUGAR INDUSTRIES…

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BASF India Ltd updates on Commercial Tax demand notices

BASF India Ltd had earlier announced regarding the receipt of demand notices from the Commercial Tax Department, Karnataka aggregating to Rs. 670 crores (including interest and penalty) for the periods 2006-2007 to 2015-2016 by treating the stock transfers of the Company’s Mangalore Plant as interstate sales to dealers and its subsequent stay by Hon’ble Karnataka Appellate Tribunal on recovery of demand for the periods 2006-2007 to 2010-2011, 2012-2013 and 2014-2015. In this connection, the Hon’ble Karnataka Appellate Tribunal vide its order dated 16th October, 2020 (as updated and available on…

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RBI levies penalty of Rs. 45 million on IndusInd Bank

A monetary penalty of Rs.45 million on IndusInd Bank has been levied for non-compliance with certain directions issued by Reserve Bank of India (RBI). The monetary penalty was levied by RBI with reference to findings of annual statutory inspection of Bank’s pertaining to the position as on March 31, 2019 (FY 2019) conducted in July – September 2019 and the Risk Assessment Report (RAR) pertaining thereto. There is no other monetary impact on the current financial statements / performance of the Bank. The Bank has reiterated its stated policy to…

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Raymond Ltd board to consider issue of NCDs and Commercial Papers

A meeting of the Committee of Directors of the Board of Directors of Raymond Ltd will be held on Wednesday, October 21, 2020, to consider and approve the issue of Non-Convertible Debentures aggregating up to an amount not exceeding Rs.100 Crore on Private Placement basis and Commercial Papers aggregating up to an amount not exceeding Rs.50 Crore. The said Non-Convertible Debentures are proposed to be listed on NSE’s WDM Segment. Shares of RAYMOND LTD. was last trading in BSE at Rs.275.5 as compared to the previous close of Rs. 272.05.…

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