Filatex India

Board-approved expansion project for manufacturing recycling ships with a capacity of 20,000 TPA from polyester and textile waste. The project is to be executed by a company or subsidiary at an estimated cost of Rs 150 crore.

Power Grid Corp:

The company acquired Beawar Dausa Transmission via tariff-based competitive bidding for an aggregate value of nearly Rs 21.37 crore, subject to adjustment.

Tata Motors:

The carmaker said an arbitration panel has ruled in its favour to recover Rs 766 crore with interest from the West Bengal Industrial Development Corp. for the Singur-Nano project that the company was forced to scrap.

Trident Aims for 3x Growth in Home Textiles by 2026

1. *Market Focus*: Towel-to-rugs maker Trident targets Rs 1,000 crore turnover by 2026 for its home textile brand MyTrident, focusing on India's resilient domestic market amid weaker global demand. 2. *Trend Shift*: Trident sees potential among the younger generation seeking affordable home furnishings, expecting a shift from unorganized to organized markets similar to the apparel industry. 4. *Strategies*: The company plans to expand retail presence, invest in marketing, and appoint Kareena Kapoor Khan as brand ambassador. It aims to double exclusive stores, allocate Rs 100 crore for marketing, and invest in capacity expansion and modernization.

India Daybook – Stocks in News

*Welspun Enterprises:* Company acquires remaining 50.10% stake in Michigan Engineers (Positive) *Union Bank:* Board approves raising up to ₹5,000 cr via Qualified Institutional Placement, floor price at ₹91.10/sh. (Positive) *Tata Power:* Renewable Energy signs PPA for 9 MWp on campus solar plant with Tata Motors Limited for Pantnagar plant in Uttarakhand (Positive) *Adani Ent:* Promoter has raised stake to 69.87% from 67.65%, acquired 2.22% from August 7-18 (Positive) *Sula Vineyards:* Company to concentrate on vineyards outside Bengaluru (Positive) *Lemon Tree:* Company has signed license agreements for two properties in Bhubaneswar and Kasauli (Positive) *Brigade:* Company has entered into a sale deed for acquiring 6.54 acres of land parcel in Chennai. (Positive) *RITES:* Company signed a MoU with NHPC Limited to collaborate on comprehensive Consultancy services for Rail Infrastructure facilities (Positive) *BHEL:* Company has received an order worth of Rs 4000 crore from Mahan Energen, a unit of Adani Power (Positive) *BLS International:* BLS International FZE is in process to subscribe 100% share capital of Saudi Arabia-based BLS International Travel & Tourism (Positive) *Glenmark:* USA reaches antitrust settlement with US Department of Justice, Antitrust Division (DOJ) (Neutral) *Adani Power:* Company targets 21,110 MW thermal capacity by fiscal 2029. (Neutral) *Adani Energy Solutions:* To meet investors on Aug 23, Aug 30: Agencies. (Neutral) *Shriram Properties:* Omega TC Sabre Holdings sold 18 lakh shares at Rs 75.43 apiece. (Neutral) *Sanghi Industries:* Ambuja Cements has made an open offer to acquire a 26% stake for Rs 767.16 crore. The offer opens on Sept. 29 and closes on Oct. 13. (Neutral)

Natco Pharma

Natco Pharma’s consolidated net profit increased 31 per cent to Rs. 420 crore in the first quarter ended June 30, 2023 against Rs. 320 crore in the corresponding quarter of the previous financial year I want to say we’ll go past Rs. 1,000 crore. But how much more than Rs. 1,000 crore, depends on how the market plays out. So that’s a little difficult to guess. I think Rs. 1,000 crore to Rs 1,200 crore range is my expectation,’‘ he said in the first quarter earnings call. The Hyderabad-based company is also expecting its newly-started agro chemicals division to register further growth this year. It is targeting a revenue of Rs. 50 crore to Rs. 200 crore in the current financial year. “The season just started. I would say we have gone from Rs. 1 crore s to Rs. 45 crore. It’s a fairly good run.’‘ Nannapaneni said. Natco is currently running promotional advertisements in Telangana for its agri products and also plans to take up a similar campaign in Maharashtra soon. We are filing our agro portfolio outside India. So the export business might take two to three years from now. But overall, I think my expectation is that the business should grow to around Rs. 400 crore to Rs. 500 crore in the next three to four years. And it will be a good solid business and contributing solidly for our both bottom line and top line,’‘ the CEO said. Natco is also witnessing organic business growth in Chlorantraniliprole (CTPR) in the domestic market is doing registration outside India as well. It had already filed the product in Brazil. Natco Pharma’s consolidated net profit increased 31 per cent to Rs. 420 crore in the first quarter ended June 30, 2023 against Rs. 320 crore in the corresponding quarter of the previous financial year on 26.3 per cent growth in total revenue at Rs. 1,160 crore. Major drivers of business during the quarter were from formulation exports, strong growth in domestic business of both pharma and agro, and steady sales from subsidiaries.

TVS Supply Chain Solutions

The TVS Mobility Group company will make its debut on the stock exchanges on Aug. 23. The IPO was subscribed 55% on day 1, 1.03 times on day two and 2.78 times on day three.