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Hexaware Delisting begins
The delisting offer to the public shareholders of Hexaware Technologies starts on Wednesday and end on September 15. Further, September 17 is set as the last date for the announcement of a counter offer.
The promoters have offered ₹264.97 a share as a part of their delisting offer, which is 36 per cent less than its current market price of ₹415 per share.
In early June, Baring Asia PE — which holds a 62.34 per cent stake in Hexaware — announced its intent to delist from Hexaware.
Currently, 169 FPIs hold 14.03 per cent stake in the company while 12 MFs own 12 per cent; around 81,500 small investors hold 6.42 per cent, and seven HNIs have 0.43 per cent stake in Hexaware.
Analysts, company and shareholders will closely monitor the response to the delisting proposal.
Indian Hume Pipes may build on order win
Indian Hume Pipes Ltd has received Letter of Award for the work of ₹134.82 crore (excluding GST) from Rural Water Supply & Sanitation, Odisha, The order is for the execution of rural piped water supply projects pertaining to Kashinagar & Gumma Block of Gajapati, including five years operation and maintenance on EPC Contract.
The project has to be completed within two years. The Agreement will be signed in due course, it said in a notice to the stock exchanges.
Shareholders will closely monitor the execution of the project by the company.
Cattle feed producer KSE back in full force
Shares of KSE Limited may see buying interest, as it informed the exchanges that the company unit had achieved maximum production capacity. The Irinjalakuda unit of KSE Ltd, wherein around 700 tonnes of cattle feed is produced per day that was closed down from July 12, on the directions of Irinjalakuda Municipality, due to a few employees testing positive for Covid 19, has been permitted to operate one shift with restrictions effective from August 17. Later, the company was allowed to function 24 hours a day from August 28, and it has now achieved production in full capacity.
During the closure period of Irinjalakuda unit, the company could manage to cover up a significant portion of the resultant shortage in production by augmenting the production in other Units as well as by production arrangement with new sources.
Solar push may brighten NTPC
NTPC Ltd on Tuesday signed a pact with International Solar Alliance for construction of solar power projects in 47 member countries by deploying its technology, the State-owned power generator said at the World Solar Technological Summit.
NTPC, which has a total of 63 GW installed power capacity, is the project management consultant for the International Solar Alliance.
It was the first company in India to set up solar capacity and has around 250 MW projects under construction currently, Chief Executive Officer Gurdeep Singh said at the summit.
The company plans to add 5 GW of solar capacity over the next two years and 30 GW by 2030, according to its CEO.
Key results: IB Ventures, Emami Realty, Eveready Ind
ATN International, CESC Ventures, Daiichi Karkaria, Emami Realty, Eveready Industries, Indiabulls Ventures, Lotus Chocolate, Lovable Lingerie, Manaksia, Stampede Capital, Shriram EPC, Texmaxco Infrastructure & Holdings and TT Limited are among about two dozen companies that will declare quarterly results on Wednesday.
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