Quadrant Future Tek (NSE:QUADFUTURE, BOM:544336) has received approval from the Research Designs and Standards Organisation (RDSO) of Indian Railways to begin passenger trials for its Automatic Train Protection system, Kavach 4.0, according to an Indian bourse filing on Tuesday.
The passenger trial stage is the final phase before the technology can receive approval for commercial deployment, the filing said.
Shares of the company jumped 9% in recent trade.
Malaysian shares closed lower on Tuesday, mirroring regional losses. The investor sentiment was downbeat after April producer prices rose 5.4%, reinforcing concerns over lingering inflation pressures.The FTSE Bursa Malaysia KLCI shed 9.48 points to end about 0.6% lower at 1,699.02. The day range was between ,696.14 and 1,707.52.In corporate news, Petroliam Nasional (PETRONAS) agreed to acquire Saudi Aramco's stakes in Pengerang Refining and Pengerang Petrochemical, collectively known as PRefChem. Subject to closing conditions, the deal will make the joint venture a wholly owned unit of PETRONAS.Shares of Oppstar (KLSE:OPPSTAR) rose about 6% on close after its unit, Oppstar Technology, executed an access token agreement with the Malaysian Investment Development Authority (MIDA). The agreement formalizes the company's access to ARM Limited's Flexible Access (AFA) Token - Entry Tier under a strategic government-linked cooperation program.Shares of Hextar Industries (KLSE:HEXIND) slid about 2% on Tuesday's close after it incurred a net loss of 6.4 million in the first quarter, reversing a profit of 2.1 million ringgit a year ago.
Singapore shares closed in the red on Tuesday, tracking broader regional losses over the recent clash between the US and Iran near the Strait of Hormuz.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,028.80 and 5,072.08 throughout the day. It ended the session at 5,028.80, down 41.75 points or 0.8% compared to Monday's close.The two parties had a skirmish near the Strait, which could have an impact on an interim peace deal.In economic news, Singapore's manufacturing output jumped 17.6% in April, backed by strong growth across almost all clusters, the city-state's Department of Statistics reported.On the corporate front, shares of Boustead Singapore (SGX:F9D) sank over 13% at the close even after its profit attributable to equity holders surged 235% during the fiscal second half ended March 31 to SG$197.7 million from SG$59.1 million a year earlier.SATS' (SGX:S58) shares closed nearly 6% higher as its attributable profit to owners rose to SG$135.4 million in fiscal second half ended March 31 from SG$109.1 million a year earlier.Meanwhile, shares of Global Resource Construction (SGX:S3N) closed nearly 8% higher as its subsidiary, Chip Eng Seng Contractors, secured a civil engineering works project worth SG$95.7 million from the Housing & Development Board.
E.I.D.- Parry (India) (NSE:EIDPARRY, BOM:500125) swung to a loss in the fiscal fourth quarter ended March 31, reporting a consolidated attributable loss of 3.33 billion Indian rupees versus profit of 2.87 billion rupees a year ago.Loss per share stood at 18.74 rupees, compared with earnings per share of 16.11 rupees a year earlier, the sweeteners and nutraceuticals company said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4, however, rose to 78.8 billion rupees from 68.1 billion rupees a year ago.The company's shares were down nearly 3% in recent trade.