Heckyl News Analytics
Voltas, the largest air conditioning company in India, has attracted positive press coverage recently. Heckyl News Analytics platform, which identifies positive and negative media coverage by scanning thousands of news and blog sources in real-time, has assigned the highest positive score of 100 to the Tata Group company for 3 out of 5 trading sessions during the previous week. Meanwhile, the average sentiment score for the past week stood at 84. Heckyl assigns sentiment score on a scale of -100 (very negative) to 100 (very positive).
Jain Irrigation Systems, a leading manufacturer of irrigation systems, pipes & fittings and plastic sheets, witnessed a surge in share price on Wednesday (April 19) after the company announced acquisition of two US based micro-irrigation dealers. The company has agreed to acquire 80 percent stake in Agri-Valley Irrigation Inc (AVI) and Irrigation Design and Construction Inc (IDC) for $48.50 million.
“The merger will help Jain Irrigation to forward integrate itself in the value chain and build direct relationships with growers. This fits into company’s strategy to participate in end to end project solutions to harness company’s unique capabilities in integrated irrigation project solutions,” the company said.
Jain Irrigation witnessed a huge buying interest in the stock market following positive news update. The stock jumped 8.50 percent to settle at Rs. 107.90 on Wednesday. The volume of shares spiked 8.5 times over the past 30-days average.
Heckyl news engine issued news alerts about aforesaid acquisition at 11:16 am on April 19 immediately after the company issued notification to the Bombay Stock Exchange (BSE). The news alert was issued ahead of major price action. At 11:16 am, the stock price was at Rs. 102.05. Read the rest of this entry »
Bhushan Steel, one of the leading players in the Indian steel industry, jumped to a 52-week high on Monday after the media reports stated the company submitted final proposal for corporate debt restructuring programme.
According to media reports, Bhushan Steel submitted final proposal for debt restructuring under the Reserve Bank of India’s Scheme for Sustainable Structuring of Stressed Assets (S4A) scheme in the last month. S4A was unveiled by the central bank last year to make debt recasts easier.
Bhushan Steel has been in financial distress. The steel maker had Rs 44,477.90 crore debt on books at the end of fiscal year 2015-16.
On Monday, shares of Bhushan Steel rallied 13.46 percent to settle at Rs 68.30 on the NSE.