Adani Ports and Special Economic Zone Ltd (APSEZ) has completed the acquisition of Karaikal Port Private Limited (KPPL) pursuant to NCLT approval.
Earlier, APSEZ was declared as the successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of KPPL. APSEZ will spend a further ₹850 crore over time to upgrade infrastructure in order to reduce the logistics cost for the customers.
Bharat Heavy Electricals Limited (BHEL) has received an letter of intent (LOI) for the supply of strategic equipment for defence sector for ₹3,700 crore to be delivered over the next 12 years.
Pursuant to a one-time settlement, Reliance Power Ltd has fully repaid its debts: JC Flowers Asset Reconstruction Private Limited NCD; rupee-term loan extended by YES Bank that was later acquired by JCF; and Canara Bank towards working capital facility.
GHCL Limited has announced the effective date of demerger of its spinning business as April 1, 2023, which will henceforth be referred to as GHCL Textiles Limited. This marks the completion of the demerger of the textiles business of GHCL Ltd.
Consequent upon successful commissioning, the fourth part capacity of 50 MW out of 300 MW Nokhra Solar PV Project of NTPC Green Energy Limited (A wholly owned subsidiary of NTPC Limited) at Bikaner, Rajasthan, is declared on commercial operation from April 1. The total capacity declared for commercial operation of the Nokhra Solar PV Project is now 250 MW.
Prakash Industries Ltd has secured additional long-term coal linkages of over 10 lakh tpa for the next five years in the coal linkage auction concluded recently by Coal India Limited.
With this, the total coal linkages with Coal India will increase to over 22 ltpa; majorly covering our production requirement and further insulating the company against the volatility in the coal prices. This should provide stability to the operations and further improve the financial performance of the company.
Klass Pack Limited, an 82.49 per cent subsidiary of Borosil Limited, has signed a binding share purchase agreement with Hemant Goel and others, majority shareholders of Goel Scientific Glass Works Limited, for the purchase of an initial 90.17 per cent stake (with a provision to increase its stake to up to 100 per cent).
Upon approval of the National Company Law Tribunal, Mumbai Bench, to the ongoing Composite Scheme of Arrangement, KPL and Borosil Technologies Limited (wholly owned subsidiary of the company), the Scientific and Industrial products (KPL is proposed to be renamed as Borosil Scientific Limited and should get listed on BSE and National Stock Exchange of India (NSE)).
Time Technoplast Ltd has received approval from the Petroleum and Explosives Safety Organisation (PESO) for the manufacturing of composite cylinders for oxygen and breathing air. These cylinders are used by firefighters, mountain climbers, portable home oxygen bottles, mobile ambulances & hospitals, the defence sector, and for underwater activities.
This product is an import substitute and further has various additional advantages over the present metal cylinder i.e. lighter in weight, long shelf life, no rusting and corrosion, zero leakage, easy handling, and useability. These cylinders have the additional feature of carrying double the quantity of gas in the same capacity as the cylinder.
Khavda-Bhuj Transmission Limited (KBTL), a wholly owned subsidiary of Adani Transmission Ltd has pursuant to the share purchase agreement with Adani Renewable Energy Holding Four Limited (AREHFL), has acquired the entire stake of Adani Green Energy Thirty Limited. Adani Transmission Limited through its special purpose vehicle is executing the project to establish a transmission scheme for evacuation of 3 GW RE injection at Khavda Pooling station under Phase I.
Ethos Limited has completed the acquisition of Silvercity Brands AG. The Swiss stock corporation has become the wholly owned subsidiary body corporate of the company with effect from March 31, 2023.
NCC received five new orders aggregating ₹1,919 crore (excluding GST) in March. Out of these orders, two are valued at ₹952 crore relating to the transportation division, two are worth ₹792 crore relating to the electrical division, and one is valued at ₹125 crore relating to building division. These orders are received from the State & Central government agencies and do not include any internal orders.
Godrej Properties has acquired a 4-acre land parcel near Koregaon Park, an upmarket residential area in Pune. The development on this land will primarily be a luxury group housing project. The project will have a developable potential of approximately 7.5 lakh square feet with an estimated revenue potential of approximately ₹1,000 crore.
JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited has received a letter of intent from the Power Company of Karnataka Limited for procurement of 2,400 MWh (300 MW x 8hrs) energy storage from Pumped Hydro Storage Project (PSP). The LoI is for providing storage capacity for 40 years. The project would be located in Karnataka and designed for eight hours of storage capacity per day.
L&T Technology Services Limited completed the acquisition of a substantial portion of the Smart World & Communication Business of Larsen & Toubro Limited (L&T) on April 1, consequent to the completion of conditions precedent as identified in the Business Transfer Agreement dated January 12, 2023.
Rail Vikas Nigam has bagged several orders, including a ₹720.67-crore project for building a six-lane elevated Kona expressway in West Bengal. The second project is a joint venture with the Railways Ministry for manufacturing and maintaining Vande Bharat trainsets. It also includes an upgrade of the government manufacturing units and trainset depots. As many as 120 trainsets are to be built at a cost of ₹120 crore a set.
GR Infraprojects has been awarded a ₹847.87-crore four-lane access-controlled greenfield highway project in the Mahabubabed district of Telangana. The company also bagged a project worth ₹1,248.37 crore to build a six-lane greenfield Varanasi-Ranchi-Kolkata Highway stretch in Bihar on hybrid annuity mode.
Cigniti Technologies has appointed Srinivas Kandula as the Executive Director on the Board. Kandula is a former chairman and CEO of Capgemini India.
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