Power Mech Projects on Tuesday said two of its subsidiaries have bagged international orders worth ₹624 crore. GTA Power Mech Nigeria, a 50 per cent joint venture of Power Mech Projects, has received an order for composite work tender for Dangote Oil Refining Company, Lagos, Nigeria, for a total contract worth ₹491 crore. Mas Power Mech Arabia LLC, a 51 per cent subsidiary of the company, has received an order from the Kingdom of Bahrain for around ₹133 crore. Shares of Power Mech Projects gained 1.92 per cent at ₹596.30 on NSE.

Wockhardt has informed the exchanges that Credit Analysis & Research (CARE Ratings) has re-affirmed the company’s rating for short-term bank facilities (non-fund based working capital limit) at CARE A1+ and revised the company’s long-term bank facilities (fund-based working capital limit) as CARE AA- from CARE AA. Further, CARE Ratings has also revised the rating for the proposed issue of NCDs of ₹250 crore of the company as CARE AA- from CARE AA. The stock of Wockhardt slipped 1.21 per cent at ₹598.10 on the NSE.

Kansai Nerolac Paints on Tuesday said its Vice-Chairman and Managing Director H M Bharuka has been appointed a director on the board of Kansai Paints, Japan. “The selection makes Bharuka the first non-Japanese to be appointed to the Board of Kansai Paints, Japan,” the company said in a statement to the exchanges. Bharuka will contribute towards international business and strategy of Kansai Paints Group, while continuing to be VC and MD of Kansai Nerolac Paints India. The stock of Kansai Nerolac edged down 0.90 per cent at ₹447.30 on the NSE.

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