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As On 05-Jun-2023 15:49 PM
SENSEX
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  • Aarti Industries signs long term supply agreement with Deepak Fertilizers

    Aarti Industries (AIL) has signed binding term sheet for a 20 year period with Deepak Fertilizers & Petrochemicals Corp (DPFCL) for offtake and supply of Nitric Acid. The parties plan to execute the formal agreement by the end of Calendar Year 2022. The supply arrangement comes into effect from 01 April 2023 and is valued more than Rs 8000 crore over a period of 20 years.

    DPFCL is the largest manufacturer of Nitric Acid in South East Asia and AIL is one of the largest Nitric Acid consumers in India. This arrangement is a landmark and first of its kind long term association between two Indian chemical majors to augment each other's business needs and mutual interests.

    The deal benefits AIL by way of a long-term supply security for a key raw material. This would meet a majority of AIL's requirements. It also helps AIL have a greater assurance in sourcing the key RM from DPFCL, who is an existing and the largest integrated nitric acid producer in India with multiple production sites.



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Flash News 05-Jun-2023
  •  ( 15:28) H.G. Infra receives LOA from North Central Railway  
  •  ( 15:08) Embassy REIT raises Rs 1,050 cr via NCDs  
  •  ( 14:41) Indices trade with modest gains; consumer durables stocks advance  
  •  ( 14:35) Tata Power arm commissions 110 MW solar power project in Rajasthan  
  •  ( 13:01) IIFL Finance board OKs raising Rs 1,500 cr via NCDs  
  •  ( 12:59) Wonderla Holidays says Tamil Nadu Govt waives off 10% local body tax  
  •  ( 12:37) Benchmarks trade with decent gains; private banks advance  
  •  ( 12:26) Patel Engg bags order worth Rs 519 cr from CIDCO  
  •  ( 12:18) OMRON Healthcare to set up plant at Mahindra's industrial park in Chennai  
  •  ( 11:18) RBI imposes penalty of Rs 2.20 cr on IOB for non-compliance  
  •  ( 10:45) Ramco Systems inaugurates subsidiary in Qatar  
  •  ( 10:31) CRISIL upgrades IDFC First Bank's LT rating to 'AA+'  
  •  ( 10:31) Nifty above 16,000 level, media stocks rally  
  •  ( 10:24) Angel One client base jumps 45% YoY in May  
  •  ( 10:02) Paytm reports strong operating performance  
  •  ( 09:48) DRL's tocilizumab biosimilar successfully completes Phase-I (intravenous route) trials  
  •  ( 09:35) Sensex, Nifty advance on upbeat global cues  
  •  ( 09:22) US FDA classifies Indoco Remedies' Goa plant inspection as OAI  
  •  ( 08:56) PVR INOX opens new 7-screen multiplex in Bengaluru  
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05 June 2023 15:40
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1300.90
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440.65
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