Ircon may move fast on order win
Ircon International Limited has secured order worth over Rs 400 crore from the Ministry of Railways. The work has been awarded by the Ministry through a competitive bidding among PSUs.
The scope of work is to provide PMC services for construction of road over bridges (ROBs) in lieu of existing level crossings. The period of completion is 24 months from the date of signing of MoU with Zonal Railways. A Memorandum of Understanding will be executed between the PSU and the concerned zonal Railway.
Shree Rama Newsprint gets nod to resume operation
Shree Rama Newsprint on Wednesday received a letter from the Gujarat Pollution Control Board to reopen its paper division. Earlier, on June 25, the GPCB had ordered closure of the division due to a fire on June 6 at a bunker of standby boiler alleging damage to environment. The division has been closed since August 8.
The company is taking necessary steps to resume the operations of its paper division, it informed the stock exchanges.
IIFL Sec buys more in Trendlyne
IIFL Securities has agreed to acquire additional stake of 6.25 per cent in Trendlyne on fully diluted basis from one of the existing investor. Post-acquisition, IIFL Securities will hold 20.55 per cent of the share capital of Trendlyne on fully diluted basis. Pursuant to this Giskard Datatech Private Limited will become an associate of the company.
Giskard Datatech Private Limited is engaged in the business of developing cloud-based analytics and modelling platform for stock market investors, analysts and advisors.
Shareholders will closely monitor further development.