Corporate News

Coimbatore | Updated on June 21, 2011

Ashoka Buildcon Ltd's subsidiary Ashoka Dhankuni Kharagpur Tollway Ltd has executed a concession agreement with National Highways Authority of India on June 20 for six-laning Dhankuni to Kharagpur section of NH - 6 from km 17.600 to km 129.000 in West Bengal under NHDP phase - V on DBFOT toll basis.

On reports about the Ruia Group in talks to buy Autoline Industries Ltd, Pune, AIL has clarified that the company and its promoters are not in talks with Ruia Group for sale of stake and the company categorically denies the news.

City Union Bank Ltd's board of directors will on June 24 consider an enabling resolution for augmentation of capital through Qualified Institutional Placement that is proposed to be placed before shareholders for approval at the AGM.

KEC International Ltd, a global infrastructure EPC player, has secured new orders valued Rs 1,044 crore which included orders from West Asia, Africa, North and South America, apart from India. The entry into water segment also has been fruitful with the current order book in this segment building up to Rs 80 crore.

Punjab & Sind Bank has raised unsecured redeemable non-convertible subordinated lower tier-II bonds for Rs 300 crore with a coupon of 9.73 per cent per annum payable annually, tenor of 124 months with call option at the end of 6 years. The issue opened and closed on June 20.

Siemens Ltd has secured two orders — for Rs 319 crore from Power Grid Corporation of India Ltd for substation works in Orissa and for Rs 124 crore from Indiabulls Infrastructure Company Ltd for substation work for the 5x270 MW Sinnar Thermal Power Project in Nashik.

Published on June 21, 2011

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