FINWIRES · TerminalLIVE
FINWIRES

Supreme Petrochem Commissions EPS Phase II; Capacity Rises

-- Supreme Petrochem (NSE:SPLPETRO, BOM:500405) has commissioned its EPS Phase II expansion at the Amdoshi plant in Nagothane, Maharashtra, adding 30,000 tons per annum of capacity, according to a Tuesday filing on Indian bourses.

Shares of the company rose over 1% in Wednesday's trade.

The expansion takes the company's total expanded polystyrene or EPS capacity to 115,000 tons per annum from 85,000 TPA, the filing said.

The project involved an investment of about 540 million Indian rupees, funded through internal accruals, it added.

The company said the capacity addition is aimed at meeting demand from packaging, construction and cold chain segments.

Related Articles

Australia

Jefferies Raises Quest Diagnostics Price Target to $225 From $220

Quest Diagnostics (DGX) has an average rating of overweight and mean price target of $219, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $204.33, Change: $+8.02, Percent Change: +4.09%

$DGX
Australia

Truist Securities Cuts Tractor Supply Price Target to $44 From $55, Hold Rating Kept

Tractor Supply (TSCO) has an average rating of overweight and mean price target of $56.19, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.92, Change: $-4.90, Percent Change: -10.92%

$TSCO
Sectors

Sector Update: Energy

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.2%.The Philadelphia Oil Service Sector Index was climbing 1.8%, while the Dow Jones US Utilities Index fell 1.3%.Front-month West Texas Intermediate crude oil was rising 4.8% to $93.94 a barrel, and the global benchmark Brent crude contract was advancing 4.4% to $99.68 a barrel. Henry Hub natural gas futures increased 0.3% to $2.70 per 1 million BTU.In corporate news, Halliburton (HAL) shares gained 4.1% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.

$HAL