Share Market News: Pradhin Ltd Shares In Focus Amid Talks For Major Order

Shares of Pradhin Ltd are in focus as the company is in advanced talks with Reliance Industries for a significant supply contract. According to the information available, the deal is estimated to be Rs 1 billion (Rs. 100 crores). It involves the provision of Fe 600 grade TMT Bars and Beams for Reliance’s Jamnagar facility.
“We are pleased to inform our esteemed shareholders and the general public that Pradhin Ltd. (“the Company”) has strategically diversified its business operations by venturing into the Steel and Real Estate sectors. This move aligns with our long-term vision of expanding our footprint in high-growth industries and capitalizing on emerging market opportunities. As part of this new venture, the Company is in advanced discussions with Reliance Industries Ltd., one of India’s largest conglomerates, to secure a significant order. The order, estimated to be worth up to INR 1 Billion ( ₹100 Crores), involves the supply of Fe 600 grade TMT Bars and Beams to Reliance Industries’ Jamnagar facility,” the company said.
Meanwhile, Indian stock indices – Sensex and Nifty – closed Tuesday’s session largely on a steady note. The indices started the day flat and later oscillated between red and green, but closed with marginal gains. Sensex closed at 81,711.76 points, up just 14 points, while Nifty closed at 25,017.75 points, up just 7.15 points, from their previous closing.
The indices are slowly inching toward fresh lifetime highs, after a mild correction lately, due to profit booking and risk-averse sell-off by foreign portfolio investors. However, FPIs have again started to buy in India, giving a fresh shot in the arm to the indices, since it was almost clear that the US Fed would start cutting interest rates in September.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)