Adani Ports: Market Movers: NACL Ind Up 7%; Adani Ports acquires another company

NEW DELHI: Shares in pesticide maker NACL Industries jumped more than 7 percent to Rs 97 after the company received approval for the expansion of its manufacturing unit.

The company said that the Ministry of Environment, Forests and Climate Change had granted environmental clearance regarding the expansion of the manufacturing capacity of the company’s existing Technical Manufacturing Unit located in Sy. No. 177, Arinama Akkivalasa Village, Etcherla Mandal, Srikakulam District, Andhra Pradesh.

The company plans to expand the unit from 30 TPD to 70.1 TPD with the inclusion of bio-based agrochemicals and a 6 MW captive cogeneration power plant.

zen technology

Zen Technologies said on Friday that it had signed an annual maintenance contract worth Rs 55 crore for simulators for a period of five years from the date of contract signing (April 22, 2022).

Zen Technologies is a leader in providing defense training solutions, drones and anti-drone solutions. To date, the company’s total order book stands at Rs 477.04 crore, including Rs 305 crore in the domestic market and Rs 172 crore in export orders.

Shares of Zen Technologies rose 1.3 percent after the update.

Adani Ports acquires another co

Adani Group’s flagship Adani Ports SEZ said on Friday that it has agreed to acquire a 100 per cent stake in Ocean Sparkle Limited, which is a leading provider of maritime services, for Rs 1,530 crore. It is dedicated to the business of port operations and maritime services.

The company has an asset base of 94 owned vessels and 13 vessels owned by third parties. Adani Ports said the investment is in line with the company’s strategy to increase its presence in the maritime services market.

Shares of the company rose about 3 percent after the update.

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