FINWIRES · TerminalLIVE
FINWIRES

Pasupati Acrylon Approves Ethanol Capacity Expansion at Uttar Pradesh Plant; Shares Jump 7%

By

Pasupati Acrylon (NSE:PASUPTAC, BOM:500456) said its board has approved expansion of ethanol manufacturing capacity at its Thakurdwara plant in Uttar Pradesh, India, to 240 kiloliters per day from 180 kiloliters per day, according to a Monday filing on Indian bourses.

Shares of the company jumped over 7% in Tuesday's trade.

The capacity enhancement will be carried out through debottlenecking of the existing facility, the company said.

The expansion is expected to be completed by December 2026 with an investment of about 250 million Indian rupees, the filing said. The investment will be funded through internal accruals, it added.

Related Articles

Asia

New Zealand Shares Rise; New Zealand King Salmon Investments Reports Profit for Fiscal H1

New Zealand shares ended higher on Tuesday while Asian stocks were mixed amid new US strikes against Iran.The S&P/NZX 50 Index rose 0.77% or 99.46 points to close at 13,069.74.The US on Monday launched strikes on southern Iran on targets including boats allegedly laying mines and missile launch sites, describing the operations as defensive measures, according to a Monday Reuters report."The market wants to believe that it's all going to end soon, because the war not ending is quite bad for the world economy. The world economy's had these buffers of running down inventories, but you can't keep running down inventories," said Commonwealth Bank of Australia Strategist Joseph Capurso, as quoted by Reuters.In domestic news, total new residential mortgage lending in New Zealand fell to NZ$7.99 billion in April from NZ$9.5 billion in March, according to data from the Reserve Bank of New Zealand.In corporate news, New Zealand King Salmon Investments (NZE:NZK, ASX:NZK) reported Tuesday fiscal first-half earnings of NZ$0.03 per share.Radius Residential Care (NZE:RAD) completed its purchase of the Karori care home in Wellington.

$^NZ50$ASX:NZK$NZE:NZK$NZE:RAD
Asia

Santos to Focus Growth Investment on LNG, Oil to Develop Tier-1 Alaska, Papua New Guinea Basins

Santos (ASX:STO) is set to focus growth investment on liquefied natural gas (LNG) and oil to develop tier-1 basins in Alaska and Papua New Guinea, as well as fully appraise Australia's Beetaloo and Bedout basins, according to a Tuesday Australian bourse filing.Santos' Alaskan crude oil is expected to be sold to Asian refineries. Its Pikka phase one project in Alaska is expected to establish cash flow and deliver 80,000 gross barrels of oil per day on plateau.The Nanushuk Drill Site C is fully appraised and ready for a final investment decision within the year.The firm's shares fell 1% in recent trading on Tuesday.

$ASX:STO
Asia

Zone-King Environmental Chair Resigns

Zhejiang Zone-King Environmental Sci & Tech (SHA:688701) said Chair and General Manager Zhuo Weilong resigned due to personal reasons.Zhuo retains his 34.79% stake in the company, remaining as controlling shareholder and actual controller, according to a Tuesday filing with the Shanghai bourse.

$SHA:688701