The Hindu Business Line : Corporate developments

J.Kumar Infraprojects has secured an order valued at Rs 170 crore from Municipal Corporation of Greater Mumbai and the order book position of the company, as on date, stands at about Rs 631 crore.

Mcnally Bharat Engineering Company has received an order from Steel Authority of India for expansion of IISCO Steel Plant - Raw Material Handling System Ore Handling Plant valued at Rs 621.88 crore. SAIL’s Bokaro Steel Plant has given an order for Rs 70.58 crore.

Mahindra & Mahindra has announced that BAE Systems and Mahindra Defence are in discussion to jointly develop an Indian mine-protected vehicle based on BAE Systems’ highly successful RG-31 mine-protected vehicle. BAE Systems has already supplied 165 mine-protected vehicles known as Casspir to the Indian Army since 1999.

Morepen Laboratories has said that the company has approved the allotment of 2,48,250 equity shares to Centurion Bank of Punjab and allotment of 9,32,925 (0.01 per cent) Optionally Convertible Preference Shares to banks and financial institutions.

PVR Ltd has announced that the company & Major Cineplex Group of Thailand have signed a joint venture agreement to bring lifestyle entertainment concepts to Indian consumers. The joint venture would set-up bowling alleys, karaoke centres, ice skating rinks and gaming zones in and around the company’s multiplexes to complete the out-of-home experience for Indian consumers.

Thermax Ltd has announced that the company and Babcock & Wilcox Power Generation Group, Inc (B&W PGG), USA, have recently signed a technical transfer licence agreement that grants Thermax the right to engineer, manufacture and sell sub-critical B&W Radiant utility boilers in India. The agreement was signed by Mr M.S. Unnikrishnan, Managing Director, Thermax Ltd, and Mr Brandon C. Bethards, President & Chief Operating Officer, B&W PGG.

The members of Tourism Finance Corporation of India at the EGM held on February 12 have approved the proposal to increase the FII aggregate holding limit in the company up to 49 per cent of paid-up equity capital; to offer, issue and allot up to 1,92,83,252 equity shares of Rs 10 each to Qualified Institutional Buyers at a price to be decided as per SEBI guidelines, subject to a minimum price of Rs 48 per share (including a premium of Rs 38 per share) for an amount not exceeding Rs 125 crore.

Zylog Systems has said that it is contemplating offer of voice over internet protocol services (VOIP) by partnering with a leading US company.