After a brief recovery, the domestic equity benchmarks once again slipped into the negative terrain in morning trade. The Nifty managed to hold above the 15,000 mark. Realty shares rose for the third day.
At 10:20 IST, the barometer index, the S&P BSE Sensex, was down 70.91 points or 0.14% to 50,122.42. The Nifty 50 index lost 21.15 points or 0.14% to 15,086.95.
The broader market was trading higher. The S&P BSE Mid-Cap index gained 0.56% while the S&P BSE Small-Cap index rose 0.63%.
The market breadth was strong. On the BSE, 1700 shares rose and 915 shares fell. A total of 128 shares were unchanged.
The undertone of the market was upbeat amid hopes of reopening of economic activity soon as fresh daily Covid cases decline. Encouraging quarterly results also boosted sentiment.
Also approves onboarding of Clariant as majority partner in IGL Green ChemicalsThe Board of India Glycols at its meeting held on 11 March 2021 has approved the execution of the business transfer agreement on 11 March 2021 for transfer of Company s BioEO (Speciality Chemicals) Business to IGL Green Chemicals (IGCPL), a wholly owned subsidiary.
The Board also approved entering into a joint venture with IGCPL and Clariant International (Clariant), in connection with, inter alia, investment by Clariant in IGCPL and issuance of subscription shares by IGCPL to Clariant, which will result in IGCPL becoming a 51 :49 joint venture, in
which 51% stake will be held by Clariant and the remaining 49% stake will be held by the Company.
Read more about Clariant Chemicals (India) standalone net profit rises 22.56% in the December 2020 quarter on Business Standard. Sales rise 7.31% to Rs 202.10 crore
Avient expanding colour concentrate capabilities in Vietnam
The materials supplier will complete an expansion of its colour concentrates plant in Binh Duong, Vietnam in February. January 18, 2021 Canadian Plastics
The Vietnam site. Photo Credit: Avient Corp.
Materials supplier Avient Corp. will complete an expansion in February at a colour concentrates plant in Binh Duong, Vietnam.
“Demand for plastics has become one of the Vietnam economy’s fastest growth areas,” Say-Eng Lee, vice president and general manager, colour and additives Asia for Avient, said in a statement. “As consumption grows, requirements for high-quality colour concentrates are becoming more challenging as well, as top brands focus on novel color solutions. We have increased our production space by over 30 per cent and added to our state-of-the-art machinery portfolio to shorten lead times for developing and producing high-quality color concentrates.”