The Board of Directors of Vedanta Limited has approved third interim dividend of ₹13 a share i.e. 1,300 per cent for the financial year 2021-22 amounting to ₹4,832 crore. The record date for the purpose of payment of dividend is March 10. Earlier, Vedanta paid an interim dividend ₹18.50 a share (September 2021) and ₹13.50 a share (December 2021) as dividend.
Somany Ceramics has opened Somany Arcade India's first arcade shop in Gorakhpur, Uttar Pradesh (Himalaya Marbles), that will focus and showcase exclusive range of ceramic tiles, polished Vitrified tiles and durastone (outdoor vitrified tiles).
Hind Rectifiers has secured orders of ₹57.32 crore in February. The company, however, did not provide any other details.
Tantia Constructions has received a letter of acceptance for a bid value amounting to ₹42.18 crore from South Eastern Railways, against a contract work for “construction of major bridge nos. between Basta and Rupsa (Orissa)“.
Sudarshan Polyfab Private Ltd, subsidiary of Yash Management & Satellite Ltd, has successfully began the commercial production at its greenfield plant situated at Mehsana, Gujarat. Sudarshan Polyfab has chosen Lakshmanpura, Mehsana, as the location for its first manufacturing unit because the region has developed into a prime cluster of top woven sack player of the country.
The Board of Directors of UPL has approved a proposal to buyback of shares for an aggregate amount of not exceeding ₹1,100 crore at a price not exceeding ₹875 a share through the open market route.
ABB India has completed the sale of its turbocharger business to Turbocharging Industries and Services India, as a going concern, on a slump sale basis to its wholly owned subsidiary for ₹310 crore. It may be recalled that ABB India had incorporated Turbocharging Industries and Services India only this January.
Mukand has sold its land in Thane for ₹806.14 crore. It has executed an agreement for the sale of said land of 47 acres. Of this, part consideration of ₹161.23 crore (20 per cent of the sale consideration) is required to be deposited by the purchaser as earnest money deposit, in an escrow account, within 7 days of execution of deed. The sale is subject to fulfilment of certain conditions precedent by the parties. The purchaser is not related to promoter/promoter group/group companies and transaction does not fall within related party transactions.