Latest news with #Europe-based
Business Standard
4 hours ago
- Business
- Business Standard
AXISCADES Tech gains after inking MoU for defense systems production with Indra
AXISCADES Technologies added 1.91% to Rs 1440 after the company announced the signing of a memorandum of understanding (MoU) with Europe-based Indra for collaborating on the production of solutions for the aerospace and defense markets. Indra is a global leader in defense, aerospace, and strategic systems. The agreement aims to manufacture in India several Indra solutions, such as distance measuring equipment (DME) that provides in-flight information to aircraft, and countermeasure systems, as part of a broader system designed by Indra to protect aircraft in flight from potential missile attacks using guided systems, such as the well-known MANPADS. The company further said that it is evaluating collaboration with Indra in MPA Airborne Solutions and exploring a dedicated partnership for DRDO CABS MRMR and MMMA programs. AXISCADES Technologies is a prominent technology solutions provider in defense, aerospace and strategic electronics.
&w=3840&q=100)
Business Standard
5 hours ago
- Business
- Business Standard
Why is GMM Pfaudler share price buzzing in trade today? Key details here
GMM Pfaudler share price: GMM Pfaudler share price jumped up to 5.01 per cent to hit an intraday high of ₹1,206.35 per share on Friday, June 20, 2025. However, by 12:40 PM, GMM Pfaudler shares were off day's high, and were trading 2.99 per cent higher at ₹1,183 per share. In comparison, BSE Sensex was trading 0.73 per cent higher at 81,957.83 levels. What triggered the up move in GMM Pfaudler share price today? GMM Pfaudler share price jumped in trade today after the company announced that its wholly-owned subsidiary, Pfaudler Normag Systems GmbH, Germany, has entered into a contract with a Europe-based customer for the design, engineering, and supply of complete end-to-end acid recovery equipment and systems. The value of the contract is approximately ₹330 crore (or EUR 33.2 million). In an exchange filing, GMM Pfaudler said, 'This is to inform you that Pfaudler Normag Systems GmbH, Germany, a wholly owned subsidiary of the Company, has entered into a contract with a Europe-based customer for the design, engineering, and supply of complete end-to-end acid recovery equipment and systems.' Under the terms of the deal, the company will receive a down payment of 30 per cent on signing of the contract. 'The Company expects meaningful revenue contribution from this order,' said GMM Pfaudler, in a statement. About GMM Pfaudler GMM Pfaudler is among the leading global suppliers of process equipment and systems, with a strong specialisation in corrosion-resistant technologies. Serving a wide range of industries—including chemical, pharmaceutical, food, and energy—the company is renowned for its expertise in glass-lined equipment and a diversified product portfolio that includes mixing systems, filtration and drying units, and heavy engineering solutions. The company's global presence has been further boosted by its strategic acquisition of a majority stake in the international operations of the Pfaudler Group. The move has majorly expanded its manufacturing footprint and capabilities across continents. The market capitalisation of GMM Pfaudler is ₹5,318.44 crore, according to BSE. The company falls under the BSE SmallCap category. The 52-week high of GMM Pfaudler is ₹1,530.80 per share, while its 52-week low is ₹953 per share.
Mint
8 hours ago
- Business
- Mint
Kaynes Technology shares surge 4% as QIP launch aims to raise ₹1,600 crore
Shares of Kaynes Technology rose 4 percent in intra-day trading on Friday, June 20, following the launch of its Qualified Institutional Placement (QIP) issue to raise up to ₹ 1,600 crore. The semiconductor and electronics systems design and manufacturing company opened its QIP on Thursday, setting a floor price of ₹ 5,625.75 per share, a marginal 0.3 percent premium over Thursday's closing price. The fundraising is being managed by Motilal Oswal Investment Advisors, Nomura, and Axis Capital. Kaynes Technology India has projected revenue of ₹ 4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to reach 15.6 percent. The company's confidence is backed by a strong order book and expansion into new business areas. Jairam Sampath, Whole-Time Director and CFO, underlined the export growth opportunity. 'We will have some US major company orders getting executed. We will start doing additionally about ₹ 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' Sampath said. Adding to its global footprint, Kaynes' subsidiary, Kaynes Semicon Pvt Ltd, recently signed an asset purchase agreement with Japan's Fujitsu General Electronics Ltd. The deal, valued at 1.59 billion Japanese yen, includes the acquisition of production lines for power modules, further solidifying the company's expansion into semiconductor manufacturing. Despite Kaynes' bullish outlook, brokerage CLSA issued a cautionary note last month. While it raised its price target to ₹ 6,230 from ₹ 5,400, it downgraded the stock to 'Hold' from 'Outperform'. The rating adjustment followed the company's strong Q4 results, marked by improved margins, though the growth figures came in slightly below CLSA's expectations. CLSA pointed to increased working capital requirements as a drag on operating cash flow (OCF), though it anticipates this issue will normalise in the coming quarters. The brokerage also noted Kaynes' strategic focus on emerging segments such as Outsourced Semiconductor Assembly and Test (OSAT) services and bare board manufacturing, which are expected to contribute meaningfully to revenues from the end of FY26. While CLSA acknowledged the timely execution of these projects could act as catalysts for stock performance, it flagged that the recent sharp rise in stock price warranted some caution, hence the downgrade. On Friday, Kaynes Technology's stock climbed as much as 3.9 percent to ₹ 5,825.50. The stock remains over 25 percent below its 52-week high of ₹ 7,824.95, touched in January 2025, and well above its 52-week low of ₹ 3,729.70, seen in July 2024. Over the last one year, the stock has advanced more than 45 percent. However, it has lost 5 percent in June so far, following three consecutive months of gains—up 4 percent in May, 21 percent in April, and 14.5 percent in March. Before that, it saw a 13.5 percent decline in February and a steep 35 percent correction in January.
Business Standard
8 hours ago
- Business
- Business Standard
GMM Pfaudler rises after subsidiary bags supply contract worth Rs 330 crore
GMM Pfaudler added 1.92% to Rs 1170.75 after the company said that its wholly owned subsidiary Pfaudler Normag Systems GmbH, Germany, has received a contract for supplying acid recovery equipment & systems from a Europe-based customer. The European customer is a manufacturer of light and medium weapons, ammunition, and tools for the defence and civilian sectors. As per the terms of the contract, the company would undertake design, engineering, and supply of complete end-to-end acid recovery equipment & systems. The project has to be executed within a period of 4 years. The value of this order is EUR 33.2 million or approximately Rs 330 crore. "The company expects meaningful revenue contribution from this order," GMM Pfaudler said in a statement. GMM Pfaudler delivers corrosion-resistant technologies, systems, and services worldwide and remains the preferred choice by consistently providing its customers in the chemical and pharmaceutical industries with innovative and cost-effective solutions. The company had reported a consolidated net loss of Rs 26.95 crore in the quarter ended March 2025 as against net profit of Rs 27.63 crore during the previous quarter ended March 2024. Sales rose 8.89% to Rs 806.59 crore in Q4 FY25 as compared with Q4 FY24.
Mint
9 hours ago
- Business
- Mint
Kaynes Technology shares surge 4% as QIP launch aims to raise ₹1,600 crore
Shares of Kaynes Technology rose 4 percent in intra-day trading on Friday, June 20, following the launch of its Qualified Institutional Placement (QIP) issue to raise up to ₹ 1,600 crore. The semiconductor and electronics systems design and manufacturing company opened its QIP on Thursday, setting a floor price of ₹ 5,625.75 per share, a marginal 0.3 percent premium over Thursday's closing price. The fundraising is being managed by Motilal Oswal Investment Advisors, Nomura, and Axis Capital. Kaynes Technology India has projected revenue of ₹ 4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to reach 15.6 percent. The company's confidence is backed by a strong order book and expansion into new business areas. Jairam Sampath, Whole-Time Director and CFO, underlined the export growth opportunity. 'We will have some US major company orders getting executed. We will start doing additionally about ₹ 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' Sampath said. Adding to its global footprint, Kaynes' subsidiary, Kaynes Semicon Pvt Ltd, recently signed an asset purchase agreement with Japan's Fujitsu General Electronics Ltd. The deal, valued at 1.59 billion Japanese yen, includes the acquisition of production lines for power modules, further solidifying the company's expansion into semiconductor manufacturing. Despite Kaynes' bullish outlook, brokerage CLSA issued a cautionary note last month. While it raised its price target to ₹ 6,230 from ₹ 5,400, it downgraded the stock to 'Hold' from 'Outperform'. The rating adjustment followed the company's strong Q4 results, marked by improved margins, though the growth figures came in slightly below CLSA's expectations. CLSA pointed to increased working capital requirements as a drag on operating cash flow (OCF), though it anticipates this issue will normalise in the coming quarters. The brokerage also noted Kaynes' strategic focus on emerging segments such as Outsourced Semiconductor Assembly and Test (OSAT) services and bare board manufacturing, which are expected to contribute meaningfully to revenues from the end of FY26. While CLSA acknowledged the timely execution of these projects could act as catalysts for stock performance, it flagged that the recent sharp rise in stock price warranted some caution, hence the downgrade. On Friday, Kaynes Technology's stock climbed as much as 3.9 percent to ₹ 5,825.50. The stock remains over 25 percent below its 52-week high of ₹ 7,824.95, touched in January 2025, and well above its 52-week low of ₹ 3,729.70, seen in July 2024. Over the last one year, the stock has advanced more than 45 percent. However, it has lost 5 percent in June so far, following three consecutive months of gains—up 4 percent in May, 21 percent in April, and 14.5 percent in March. Before that, it saw a 13.5 percent decline in February and a steep 35 percent correction in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
