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Linc rallies after inking JV agreement with SILKA

Linc rallies after inking JV agreement with SILKA

by | Sep 26, 2024 | Share Market


Last Updated : Sep 26 2024 | 4:04 PM IST

Linc jumped 3.22% to Rs 748.90 after the company entered into joint venture agreement with Silka Kirtasiye Imalat Sanayi Ve Ticaret (SILKA) to carry out manufacturing of Writing Instruments in Turkiye.

The company has proposed Joint venture company (JVC), Silka Linc Imalat Anonim Sirketi. The initial capital of the company shall be $1 million or equivalent amount.

As per the terms of the agreement, both INC and SILKA have right to appoint 2 directors each at the JVC. The chairman of the board of the JVC shall be a director nominated by LINC, managing director of the JVC shall be nominated by SILKA, LINC have the right to appoint Auditors at the JVC.

 

The shareholding of SILKA and LINC in the JVC will be 50% each.

Meanwhile, the company has also entered into joint venture agreement with Mitsubishi Pencil Company (Mitsubishi) to carry out manufacturing and sales of high quality yet affordable writing instruments tailored for Indian consumer.

The company has proposed joint venture company, Uni Linc. The initial paid-up capital of the company shall be an amount of Rs 20 crore. Mitsubishi will hold a 51% stake in the joint venture company, while Linc will hold a 49% stake.

As per the term of the agreement, 2 (two) directors shall be nominated by MITSUBISHI and 1 director shall be nominated by LINC in the JVC, LINC nominee director shall be appointed as the chairman of the JVC, one of the MITSUBISHI nominee directors, shall be appointed as the managing director of the JVC, MITSUBISHI have the right to appoint auditors at the JVC.

Deepak Jalan, managing director of Linc Limited, stated – We are excited to strengthen our long-term partnership with Mitsubishi Pencil Company, with whom we have shared over 30 years of exclusive collaboration. This joint venture allows us to offer advanced Japanese technology at more affordable price points, creating a unique synergy between innovation and market expertise. We are confident that this partnership will set a new benchmark in the Indian writing instruments industry and open up new avenues in global markets as well.

Linc, Indias leading manufacturers and exporters of writing instruments and allied stationery products

The companys standalone net profit jumped 13.28% to Rs 8.36 crore in Q1 FY25 as compared with Rs 7.38 crore in Q1 FY24. Net sales increased 14.2% YoY to Rs 127.75 crore in Q1 FY25.

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Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Sep 26 2024 | 3:55 PM IST



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Krsnaa Diagnostics climbs 4% on buying stake in Apulki Healthcare: Krsnaa Diagnostics share price

Krsnaa Diagnostics climbs 4% on buying stake in Apulki Healthcare: Krsnaa Diagnostics share price

by | Sep 26, 2024 | Share Market


3 min read Last Updated : Sep 26 2024 | 1:40 PM IST


Shares of healthcare service provider Krsnaa Diagnostics jumped 4.39 per cent to hit the day’s high of Rs 875.65 during intra-day deals on the BSE. The northward movement in the company’s stock follows the announcement of a strategic investment in Apulki Healthcare (Apulki), India’s first Public Private Partnership (PPP) dedicated to cancer, and cardiac care hospitals. Earlier, on September 25, 2024, the company informed the exchanges that its Board of Directors had approved the acquisition of 23.53 per cent of the total paid-up capital of Apulki Healthcare.

Krsnaa Diagnostics, in a note, said, “Under this collaboration, Krsnaa will deliver a comprehensive suite of integrated diagnostic services at Apulki’s facilities, enhancing access to advanced and super-specialised diagnostics. Under this collaboration, Krsnaa Diagnostics will become the exclusive diagnostics partner for Apulki’s state-of-the-art cancer and cardiac hospitals for the next 30+ years.”

 


Yash Mutha, Joint Managing Director of Krsnaa Diagnostics, stated, “By acquiring a stake in Apulki, we are positioning ourselves at the forefront of the rapidly expanding cancer and cardiac care segment. The investment is subject to the fulfilment of certain conditions precedent, and the exact amount will be disclosed once we sign the definitive documents. However, it is important to note that this investment will not put any strain on our cash flows, as it will be funded entirely through internal accruals over the next 2-3 months. This also strengthens Krsnaa’s portfolio, opening avenues for sustainable long-term growth and shareholder value.”


Krsnaa Diagnostics is one of the fastest-growing differentiated diagnostic services providers, both in Radiology and Pathology. The company started its journey in 2011 with 2 radiology centres and today it is in 18 states and union territories with over 2,900 centres across the country.


Krsnaa Diagnostics commands a market capitalisation of Rs 2,744.47 crore. The healthcare service provider company is a constituent of the BSE SmallCap index.


Shares of Krsnaa Diagnostics have yielded a return of 14 per cent in the last one month, 35 per cent in the last six months, and 19.19 per cent year-to-date.


The SmallCap stock has a 52-week range of Rs 887.95 – 527.55 on the BSE.


At around 01:02 pm on Thursday, the company’s shares were quoted trading at Rs 841, up 0.27 per cent from its previous close of Rs 838.70 on the BSE.


Krsnaa Diagnostics shares are currently trading around 5 per cent lower than their 52-week high of Rs 887.95, scaled earlier this week on Monday, September 23, 2024.

First Published: Sep 26 2024 | 1:34 PM IST



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Krsnaa Diagnostics climbs 4% on buying stake in Apulki Healthcare: Krsnaa Diagnostics share price

Zen Tech up 4% on launching remote-operated weapon & surveillance systems: Zen Technologies share pric

by | Sep 26, 2024 | Share Market


3 min read Last Updated : Sep 26 2024 | 1:12 PM IST


Zen Technologies shares rise: Shares of Zen Technologies rose as much as 3.66 per cent to reach an intraday high of Rs 1,760 per share on Thursday, September 26, 2024.

The rise in Zen Technologies share price came after the company announced that it has launched remote-controlled weapon and surveillance systems to strengthen India’s defence capabilities.


In a statement, the company said, “Zen Technologies, a leading provider of anti-drone technology and defence training solutions, in collaboration with its subsidiary AI Turing Technologies, today unveiled four revolutionary remote controlled weapon and surveillance systems.”

 


The company said that these state-of-the-art innovations are well-placed to redefine modern warfare and strengthen India’s defence prowess.


The newly launched systems include RCWS – 7.62 x 51 MMG (Parashu), Tank Mounted RCWS – 12.7 x 108 HMG (Fanish), Naval RCWS – 12.7 x 99 HMG (Sharur), and Artillery Rugged Camera (Durgam).


The RCWS – 7.62 x 51 MMG (Parashu) is a versatile remote-controlled weapon system featuring advanced thermal imaging and anti-drone capabilities, optimised for vehicles and ships. Similarly, the Tank Mounted RCWS – 12.7 x 108 HMG (Fanish) boosts the firepower of T-72 and T-90 tanks with its sophisticated thermal targeting system, ensuring precision in challenging weather conditions. 


Meanwhile, the RCWS – 12.7 x 99 HMG (Sharur) excels in engaging both surface and aerial threats at distances of up to 2 kilometres, boasting advanced stabilisation technology for accuracy in low-visibility scenarios. 


Additionally, the Artillery Rugged Camera (Durgam) offers all-weather reliability with its military-grade, day/night vision capabilities, making it ideal for use in extreme environments and high-threat zones, with real-time danger detection features.


Ashok Atluri, chairman and managing director of Zen Technologies said, “Our new range of remote-controlled weapon and surveillance systems are designed to equip armed forces with advanced tools that significantly boost operational capabilities while taking our soldiers out of harm’s way giving our forces extraordinary tactical superiority. This launch underscores our commitment to position India as a global leader in certain technologies of the defence industry.”


In the past, the company has launched several products like Hawkeye, Barbarik-URCWS (Ultralight Remote Control Weapon Station), Prahasta, and Sthir Stab 640, cementing its role as a pivotal player in India’s defence modernisation efforts, the company said.


The market capitalisation of Zen Technologies is Rs 15,131.76 crore, according to BSE.


At 1:01 PM, shares of Zen Technologies were trading 1.29 per cent lower at Rs 1,675.90 per share. In comparison, BSE Sensex was trading 0.33 per cent higher at 85,448.14 levels.

First Published: Sep 26 2024 | 1:08 PM IST



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Vedanta shareholders to rejoice: Company lines up for 4th dividend for FY25: Vedanta share price

Vedanta shareholders to rejoice: Company lines up for 4th dividend for FY25: Vedanta share price

by | Sep 26, 2024 | Share Market


3 min read Last Updated : Sep 26 2024 | 12:06 PM IST


Vedanta dividend announcement 2024: Shares of Anil Agarwal-led metals and mining major Vedanta were in the spotlight on Thursday as the scrip surged 3.30 per cent to today’s high of Rs 495.45 apiece during Thursday’s intra-day trading. The uptick was fueled by the company’s announcement of a fourth interim dividend for FY25.

Vedanta, in an exchange filing, has said that a meeting of the Board of Directors of the company is proposed to be scheduled on Tuesday, October 8, 2024, to consider and approve the fourth interim dividend on equity shares, if any, for the financial year 2024-25.

 


As per the data available on the exchanges, Vedanta has already fixed Wednesday, October 16, 2024, as the ‘Record Date’ for the purpose of determining the entitlement of the equity shareholders for the said dividend.


Vedanta boasts a rich history of paying dividends to its shareholders. The data available on the BSE reflects that the company has earlier this financial year paid interim dividends of Rs 11, Rs 4, and Rs 20 on three different occasions. At the current market price, Vedanta shares have a dividend yield of 7.23 per cent, as of September 26, 2024.


Vedanta, a subsidiary of Vedanta Resources, has operations as a global powerhouse of minerals, power, and energy companies, uniquely covering traditional and new-age businesses. Formerly a FTSE 100 company and headquartered in London, Vedanta Resources is the holding company for Vedanta and Konkola Copper Mines. 


Vedanta enjoys a market capitalisation of Rs 1,89,204.13 crore on the BSE, as of September 26, 2024. The company is a constituent of the BSE 100 index.


In the first quarter of FY25, Vedanta’s profit after tax (PAT), attributable to the owners of the company, jumped to Rs 3,606 crore, up from Rs 2,640 crore reported in the corresponding quarter of the previous fiscal year.

Historically, Vedanta shares have exhibited remarkable performance. Shares of mining major have advanced nearly 5 per cent in the last one month, and 80 per cent in the last six months. The company’s shares have sprinted 89 per cent year-to-date. 

Vedanta shares have doubled investors’ money in the last one year with a rally of a whopping 116.02 per cent during the said period.


Vedanta shares have a 52-week range of Rs 506.85 – 207.85 on the BSE.


At around 11:08 AM, Vedanta shares were quoted trading at Rs 495.10, up 3.23 per cent from its previous close. At the same time, nearly 7.08 lakh equity shares of Vedanta worth around Rs 34.36 crore exchanged hands on the BSE.

First Published: Sep 26 2024 | 12:06 PM IST



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Linc rallies after inking JV agreement with SILKA

Board of Godrej Properties to consider fund raising

by | Sep 26, 2024 | Share Market


Last Updated : Sep 26 2024 | 11:04 AM IST

On 01 October 2024

The Board of Godrej Properties will meet on 01 October 2024 to discuss and consider the proposal to raise funds by way of issue of equity shares, or any other eligible securities and/ or instruments, through public and/ or private offerings including qualified institutions placements, preferential issue, rights issue, further public offer or any other permissible method.

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Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Sep 26 2024 | 10:54 AM IST



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