The Hindu Business Line : Corporate developments

Coimbatore, Dec. 12 Classic Diamonds India Ltd has said that its Board of Directors has approved, in principle, raising funds by way of Foreign Currency Convertible Bonds or ADRs or GDRs for which it will obtain the requisite permissions and relevant approvals.

Hindustan Zinc Ltd has announced the commencement of zinc metal production from Hydro Phase II having a capacity of 1.7 lakh tpa at Chanderiya Lead Zinc Smelter, Chanderiya, Rajasthan. With this, the total zinc and lead capacity of the company is now 6.7 lakh tpa. The project was completed in the benchmark timeframe of 20 months.

Quintegra Solutions Ltd’s Board of Directors has approved the issue of up to 27 lakh warrants convertible into 27 lakh equity shares of Rs 10 each, at a price of Rs 126 per warrant on a preferential basis to promoters/institutional investors/individuals/corporate bodies/key management personnel/ trust/other eligible investors.

Reliance Energy Ltd has bagged an Engineering, Procurement and Construction (EPC) contract from Damodar Valley Corporation (DVC) to set up the 2x600 MW coal-based power station at Raghunathpur in West Bengal. The contract is valued at over Rs 3,725 crore. The EPC Group of Reliance Energy currently has orders on hand for execution aggregating over Rs 10,000 crore.

Tudor India Ltd’s Board of Directors has resolved to increase the manufacturing capacity at the company’s facility at Prantij, Gujarat, to approximately 10 lakh standard batteries per annum, up from the current capacity of approximately six lakh standard batteries per annum, at an estimated outlay of Rs 24 crore. It authorised the company to raise up to Rs 34 crore to meet the project and working capital requirements.