Sintex

The lenders of the debt-ridden textiles maker Sintex Industries have approved the joint bid of Reliance Industries and Assets Care & Reconstruction Enterprise to acquire the firm under the insolvency resolution process.

Mukesh Ambani's Reliance Industries Ltd., along with a partner, are among those bidding to take over bankrupt Indian textile firm Sintex Industries Ltd., according to a stock-exchange filing, as the billionaire attempts to diversify from an oil empire and into telecommunications, green energy and fashion.

Punjab National Bank (PNB) has reported a new borrowing fraud worth Rs 1,203 crore by the troubled Ahmedabad-based Sintex Industries Ltd, whose debt-restructuring plan was rejected by lenders in December last year.

Sintex Industries shares now reflect the value of its textile business only. Textile is the oldest business of Sintex Industries.

Sumeet Bagadia, associate director at Choice Broking, says on the downside Nifty has support at 9,370 and if it breaks 9,370 it can fall by another 70-80 points., associate director at Choice Broking, says on the downside Nifty has support at 9,370 and if it breaks 9,370 it can fall by another 70-80 points.

S&P Global Ratings had assigned 'BB-' Sintex Industries long-term corporate credit rating.

Shares of Sintex Industries rallied as much as 7.8 per cent to hit intraday high of Rs 78.60 after the company announced demerger of custom moulding and prefab businesses from the company to Sintex-BAPL Limited and Sintex Infra Projects Limited respectively.

Sintex Industries surged as much as 9 per cent, while NIIT Tech shares rose nearly 4 per cent.

Plastic and textiles firm Sintex Industries on Thursday said it will raise up to Rs 1,538 crore via foreign currency convertible bonds (FCCBs) and non-convertible debentures (NCDs).

Shares of Sintex Industries fell as much as 7.7 per cent to touch a low of Rs 93.70 after the company announced that its net profit for the quarter ending December grew at 11 per cent.

Direct investments by Indian firms abroad fell 21 per cent to $2.28 billion in October 2015 compared to the same month last year, according to RBI data.

Prakash Diwan, director of Altamount Capital Management spoke to NDTV and said Indian markets deserve a premium given that it is a in a unique sweet spot as compared to its peers in the emerging markets.

Sintex Industries, which is into building material and textile business, reported its results on Saturday.

The company had posted a consolidated net profit of Rs 161.17 crore in the March quarter of last fiscal, Sintex Industries said in a filing to the BSE.

Textiles and plastics firm Sintex Industries on Wednesday reported a 91.27 per cent jump in consolidated net profit at Rs 162.03 crore for the quarter ended December 2014, on account of higher other income.

The lenders of the debt-ridden textiles maker Sintex Industries have approved the joint bid of Reliance Industries and Assets Care & Reconstruction Enterprise to acquire the firm under the insolvency resolution process.

Mukesh Ambani's Reliance Industries Ltd., along with a partner, are among those bidding to take over bankrupt Indian textile firm Sintex Industries Ltd., according to a stock-exchange filing, as the billionaire attempts to diversify from an oil empire and into telecommunications, green energy and fashion.

Punjab National Bank (PNB) has reported a new borrowing fraud worth Rs 1,203 crore by the troubled Ahmedabad-based Sintex Industries Ltd, whose debt-restructuring plan was rejected by lenders in December last year.

Sintex Industries shares now reflect the value of its textile business only. Textile is the oldest business of Sintex Industries.

Sumeet Bagadia, associate director at Choice Broking, says on the downside Nifty has support at 9,370 and if it breaks 9,370 it can fall by another 70-80 points., associate director at Choice Broking, says on the downside Nifty has support at 9,370 and if it breaks 9,370 it can fall by another 70-80 points.

S&P Global Ratings had assigned 'BB-' Sintex Industries long-term corporate credit rating.

Shares of Sintex Industries rallied as much as 7.8 per cent to hit intraday high of Rs 78.60 after the company announced demerger of custom moulding and prefab businesses from the company to Sintex-BAPL Limited and Sintex Infra Projects Limited respectively.

Sintex Industries surged as much as 9 per cent, while NIIT Tech shares rose nearly 4 per cent.

Plastic and textiles firm Sintex Industries on Thursday said it will raise up to Rs 1,538 crore via foreign currency convertible bonds (FCCBs) and non-convertible debentures (NCDs).

Shares of Sintex Industries fell as much as 7.7 per cent to touch a low of Rs 93.70 after the company announced that its net profit for the quarter ending December grew at 11 per cent.

Direct investments by Indian firms abroad fell 21 per cent to $2.28 billion in October 2015 compared to the same month last year, according to RBI data.

Prakash Diwan, director of Altamount Capital Management spoke to NDTV and said Indian markets deserve a premium given that it is a in a unique sweet spot as compared to its peers in the emerging markets.

Sintex Industries, which is into building material and textile business, reported its results on Saturday.

The company had posted a consolidated net profit of Rs 161.17 crore in the March quarter of last fiscal, Sintex Industries said in a filing to the BSE.

Textiles and plastics firm Sintex Industries on Wednesday reported a 91.27 per cent jump in consolidated net profit at Rs 162.03 crore for the quarter ended December 2014, on account of higher other income.