Essar Power Ltd on Friday said it has agreed to sell one of its two electricity transmission lines to Adani Transmission Ltd for ₹1,913 crore. The sale is a part of deleveraging strategy following which Essar has repaid over ₹1.8 lakh crore to banks and financial institutions in the last three years - the largest debt repayment in the history.
SEBI on Friday revoked the securities market ban imposed on Abhay Bhutada, Managing Director of Poonawalla Finance, in a case pertaining to alleged insider trading activities in the shares of Magma Fincorp, which is now known as Poonawalla Fincorp.
Vibhav Agarwal has resigned as Managing Director of RattanIndia Power due to his personal reasons. Hence he also ceased to be Key Managerial Personnel of the company on June 3, the company said in a notice to the stock exchanges. Asim Kumar De, Whole Time Director of the company, has assigned additional responsibilities to discharge the functions which were earlier assigned to Managing Director, for interim period, till the time a new Managing Director is appointed by the company.
Valiant Organics has informed exchanges about an incidence of blast in reactor in chlorination section of its plant at GIDC, Sarigam, Gujarat. The incident has taken place on June 3. There has been no loss to human life, however, minor injury reported to one person, who is under medical treatment,it said.
NTPC has signed an agreement with MECON to avail consultancy and project management services for its coal mines. Under the Ministry of Steel, MECON Ltd is an engineering, consultancy and contracting organisation, offering full range of services required for setting up of a project from concept to commissioning, including turnkey execution.
Power producer SJVN will invest over ₹1,000 crore to set up three renewable energy projects in Uttar Pradesh. The company's CMD Nand Lal Sharma said two solar projects with a capacity of 75 MW each will be set up at villages Parasan and Gurha in district Jalaun.
KPI Green Energy has received Commissioning Certificates from Gujarat Energy Development Agency for three Clients totaling 6.85 MWdc Creative Technologies (CPP - 5 MWdc), Chougle Salt Works Pvt Ltd (CPP - 0.25 MWdc) and Aether Industries Ltd (1.20 MWac) - IPP - 1.60 MWdc.
Narayana Hrudayalaya has incorporated a wholly owned Subsidiary - "Athma Healthtech Private Ltd" on June 2. The wholly owned subsidiary is incorporated to carry on the business of Software and other allied services.
Results Calendar: Alpha Hi-Tech Fuel, APT Packaging, Arihant Institute, Chadha Paper, Cinevista, Ind-Agiv Commerce, Urja Global and Virtual Global Education.