Five midcap names that investors should keep an eye on April13
Check out the midcap companies making headlines in the morning trade session.
Among the midcap companies, Blue Star, JB Chemicals, MGL, Thermax and Delta Corp are among the stocks that are in the news on Monday. Let us see why!
Blue Star: Air conditioning and commercial refrigeration major, Blue Star Limited, today announced that the company has launched its new, indigenously designed, range of deep freezers as well as has augmented its manufacturing footprint with its new manufacturing facility at Wada. Built with a CAPEX of around Rs 130 crore, this facility is constructed on a built-up area of around 19,300 sq mt and can produce around 2,00,000 deep freezers and 1,00,000 storage water coolers per annum. At the market opening on Wednesday, Blue Star was trading at Rs 1164.45, up 1.01% or Rs 11.65 per share.
JB Chemical & Pharmaceuticals: The company announced yesterday evening that its board has approved the acquisition of the brand 'Azmarda' from Novartis AG, Switzerland for a consideration of USD 32.5 million (Rs 246 crores) The Azmarda brand, a patented product, shall be affixed on the proprietary Novartis AG product which is a pharmaceutical composition comprising of Valsartan and Sacubitril and is indicated for heart failure patients with reduced ejection fraction. At 10.00 am on Wednesday, JB Chemicals was trading at Rs 1606.20, up 0.044% or Rs 0.70 per share.
Mahanagar Gas Ltd: CNG prices have increased by Rs 5 per kg, while PNG rates have climbed by Rs 4.50 per SCM, by MGL. The latest gas rates go into effect at midnight on April 12th, 2022. CNG will now cost Rs 72 per kg following the recent increase in gas pricing. PNG, on the other hand, would be sold at Rs 45.50 per SCM in Mumbai. MGL raised the rates of CNG and PNG on April 6, 2022, earlier this month. CNG and PNG prices in Mumbai were raised by Rs 7 per kg and Rs 5 per SCM at the time. At the time of writing, shares of MGL were trading Rs 827.55, up by 1.38% or Rs 11.25.
Thermax: The company has bagged an order of Rs 522 crore for utility boilers and associated systems for a grass root refinery and petrochemical complex in Rajasthan, India. The order includes two units of 260 TPH high-pressure utility boilers along with allied auxiliaries to be designed and manufactured by Thermax Babcock & Wilcox Energy Solutions (TBWES), a wholly-owned subsidiary of Thermax. The package will be a part of the customer’s Captive Power Plant (CPP) and will facilitate their steam and power requirements. At 10.00 am on Wednesday, Thermax was trading at Rs 2023.15, up 1.34% or Rs 26.70 per share.
Delta Corp: The company announced in its Q4 results on Tuesday wherein consolidated net sales grew marginally by 3.3% on YoY basis and stood at Rs 218.32crore. However, the bottom line shrunk by 15.58% from Rs 57.07 crore to Rs 48.18 crore. The net profit margin was also under pressure, showing degrowth of 395 basis points and came at 18.13%. The company's board has recommended a final dividend of Rs 1.25 per equity share On Wednesday at 10.15 am, Exide industries was trading at Rs 314.10, up 0.98% or Rs 3.10 per share.
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