Ceat Tyres gains on pact with TN govt for tyre plant

Ceat Tyres inked An MOU with the Tamil Nadu government to set-up tyre manufacturing company worth Rs. 4,000 crore in Kanchipuram District of Tamil Nadu State.

The investment will be spread over the next ten years and will offer employment to around a thousand people, which will positively reflect upon the economy, said the company in its release.

Ceat Limited posted its intraday high and low at Rs. 1,314.60 and Rs. 1,257.15 per share, respectively on the BSE.  Also, the 52-week high is recorded at Rs. 2,030 and 52-week low recorded at Rs. 1,232.20 per share on the Exchange.

Ceat Limited share closed at Rs.1,300.95  per share, up by 2.42 percent on Friday’s closing, while the BSE benchmark Sensex ended at 35,657.86, up by 83.31 points  and NSE’s Nifty50 at 10,772.65, up by 22.90  points.

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Ambani Launches JioGigaFiber

Reliance Industries Limited’s Chairman and M.D Mukesh Ambani has unveiled the advanced fiber-based broadband connectivity service called JioGigafiber.

Addressing at the company’s 41st AGM, Ambani said the service will provide ultra high definition entertainment on TV, voice activated assistance, virtual reality gaming, , digital shopping and smart home solutions.

The launch of JioGiga TV, JioPhone2 will be from 15^th August, and said that three popular apps Youtube,  Facebook  and Whatsapp will be available on the JioPhone.

The JioGiga Fiber network with all the requisites will turn a home into a JioGigaFiber smart home, in less than an hour.

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Reliance Stock Lower: Meantime, at 1.00 pm, shares of Reliance Industries limited falls 0.96% at Rs. 980.50 on BSE.

Jindal Saw falls 5 pc low after binding tax by US

Shares of Jindal Saw Limited dropped after media reports stated that the US imposed taxes on large-dia welded pipes from China, India, Turkey and Korea.  Reacting the reports, shares in Jindal Saw Ltd, Maharashtra Seamless Ltd and Man Industries Ltd fell upto 4.75 percent, registering as of the first afternoon hours of trade, Thursday.

At the time of this updation, Jindal Saw Ltd is quoting at Rs. 88.25 down by Rs. 4.40 or 4.75 percent from its previous closing of Rs. 92.65 on the NSE. The scrip opened at Rs. 88.90 and has touched a high of Rs. 90.50 and low of Rs. 87.15.

Shares of Man Industries Limited is trading at Rs 113.80 down by Rs. 4.05 or 3.44% from its previous closing of Rs. 117.85 on the NSE. The scrip opened at Rs. 115.25 and has touched a high and low of Rs. 116.00 and Rs. 112.00 respectively.

Maharashtra Seamless Limited is quoting trading at Rs. 442.40 down by Rs. 8.75 or 1.94% from its previous closing of Rs. 451.15 on the NSE. The scrip opened at Rs. 451.15 and has touched a high of Rs 451.15 and a low of Rs 439.50.

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