Business news, South Asia's largest 'Adani' missile complex

Today's trade news, South Asia's largest Adani launch complex, iron ore exports hit 18-month high in January, and new IPO, release.., see what else.

South Asia's largest 'Adani' missile complex

Kanpur, Adani Group's two largest explosives and missile manufacturing plants were inaugurated yesterday in Kanpur, Uttar Pradesh. These are South Asia's largest explosives and missile complex.

With this, Adani Group has further strengthened its presence in defense manufacturing. The 500-acre plant was built by Adani Defense and Aerospace, a subsidiary of the Adani Group, at an investment of Rs 3,000 crore. The plant was inaugurated by Uttar Pradesh Chief Minister Yogi Adityanath.

The Adani Group said it will reinforce the government's policy of a self-reliant India and lead to technological advancement in the defense sector.

January steel exports hit an 18-month high

NEW DELHI: India's steel exports rose to an 18-month high in January last year, Steel Mint said in a report.

It is further informed that: The iron ore export of the country increased to 11 lakh tonnes last January. This is the highest in the last 18 months.

Excessive demand from European Union countries was the main reason for the increase in steel exports. Of the total exports, the share of the European Union alone is 67 percent. Also, universal

While the steel price is Rs 58,000 per tonne, the Indian price remains at Rs 54,300 per tonne. Low domestic prices also led to increased demand for steel.

India's steel exports remain largely flat. However, exports are also likely to dip slightly due to a global trade slowdown triggered by China's holiday season and Vietnam's Tetri festival.

 

New ipo Muca Proteins

Established in 2003, 'Mukka Proteins' company is manufacturing fish protein products. The company manufactures and supplies essential products for Poultry Feed, Pet Food and Aquatic Food.

It exports its products to more than 10 countries including China, Bangladesh, Indonesia, South Korea, Malaysia, Saudi Arabia.

Financial situation

As of September 30 last year, the company's revenue was Rs 613 crore. Profit after tax was Rs 33 crore

Commencement Date : 29.02.24

Closing Date : 04.03.24

Date of listing : 07.03.24

will be listed

Market : B.S.E.,- N.S.

Share Price : 5.26 - 28

Face Value of Share : .1

New share sale: 8 crores

Total share sale : Rs.224 crores

Change of registered name of company 'Swiggy'

'Swiggy' to raise funds through new share issue has changed its registered name from 'Bundle Technologies Limited' to 'Swiggy Pvt Ltd'.

The move is said to strengthen the company's identity.

Considering that the company is going to be listed on the stock exchange later this year, the company is taking various steps. Accordingly, already

Non-executive directors and investment bankers have been appointed in the management team of the company.

In the food delivery market of our country, Swiggy and Somato have a share of 96 percent. However, while Somato has narrowed its losses, Swiggy continues to incur losses.

The company's Swiggy revenue grew by 45 percent last fiscal to reach Rs 8,625 crore. However, its net loss increased to Rs 4,179 crore.