Stocks that will see action on September 16, 2022

K. S. Badri Narayanan | Updated on: Sep 16, 2022

Adani Ports, Tata Metaliks, IndusInd Bank, HDFC, Ansal, Tata Power, 3i Infotech, UPL, MTAR Tech, VRL Logistics, Indo Borax, Godawari Power, Trigyn Tech

The board of IndusInd Bank Ltd has approved the re-appointment of Sumant Kathpalia as the Managing Director & CEO of the Bank, for a fu1ther period of three years, with effect from March 24, 2023, subject to the approval of the Reserve Bank of India and the Shareholders of the Bank.

UPL has announced a joint venture with CleanMax Enviro Energy Solutions to establish a hybrid solar-wind energy power plant in Gujarat, India. UPL and CleanMax will set-up and operate a hybrid captive power plant with a capacity of 28.05 MW of solar power and 33 MW of wind power.

HDC Bulk Terminal Ltd (HBTL), a wholly owned subsidiary ofAdani Ports and Special Economic Zone Limited (APSEZ), has signed the Concession Agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK) for mechanisation of Berth no. 2 at Haldia Port. This is in continuation to the selection of APSEZ as a successful bidder by SMPK earlier in February.

The Phase-I of expansion project of Ductile Iron (DI) Pipe plant of Tata Metaliks Limited at Kharagpur was inaugurated. The ₹600-crore expansion project will take Company's Ductile Iron Pipe plant capacity to over 4 lakh tonnes per annum in two phases. The new plant is one of the most advanced DI Pipe plants with high levels of automation & robotics to make the operations safe and efficient. This plant will help the company expand its product range and enhance its presence in the fast-growing water infrastructure space that is witnessing a major thrust by the Govt of India through its Jal Jeevan Mission scheme.

Tata PowerSolar Systems Limited (TPSSL), subsidiary of Tata Power Renewable Energy Limited, has received the 'Letter of Award' of ₹612 crore for setting up a 100 MW groundmounted solar project for SJVN Limited. The project will get commissioned within 11 months from the date of receiving of LoA.

3i Infotech Limited has informed the exchanges that it has received an order from ONGC Petro-additions Limited for FMS for IT & Non-IT (Walkies/Radios/IS Mobile) and AMC for IT Assets at Dahej, Vadodara & RO locations. The total contract value is approximately ₹4.20 crore plus GST.

Housing Development Finance Corporation Ltd had on August 25 announced about the invocation on 66,83,990 equity shares of Ansal Housing Limited (Ansal) aggregating 11.25 per cent of its paid-up share capital by the orporation, for recovery of part outstanding dues against loans availed by pledgers / borrowers. Of the above-mentioned invoked shares, HDFC has sold 14,32,839 equity shares representing 2.41 per cent of the paid-up share capital of Ansal between August 29 and September 15.

The board ofVRL Logistics Ltd has approved the sale/transfer of its Bus Operations undertaking by way of slump sale on a going concern basis to an entity which is owned and controlled by the promoters of the Company. The Division recorded revenue of ₹204.84 crore, which contributes 8.50 per cent of the total revenue of the company. The Net Worth of the Bus Operations Division as of March 31, 2022 was ₹34.52 crore as against the overall net worth of ₹651.63 crore being 5.30 per cent of the Net Worth.

The board ofIndo Borax & Chemicals Limited has proposed to install a new plant at existing location at Pithampur for manufacturing of Boric Acid derivatives and related products. The project will be funded by internal accruals.

MTAR Technologies Limited has secured orders worth ₹540 crore in Clean Energy segment including civil nuclear power.

Trigyn Technologies Inc, a wholly owned subsidiary of Trigyn Technologies Ltd, has been awarded an Enterprise Task Order Agreement for Citywide Systems Integration Services (SI), Class I, by the City of New York (City), Department of Information Technology & Telecommunications (DoITT). The award is for a potential duration of six years, commencing on January 1, 2023, through December 31, 2029.

The Chhattisgarh Environment Conservation Board, Raipur, has accorded its "Consent to Operate" for enhanced capacity ofGodawari Power and Ispat Ltd's Iron Ore Pellet Plant, situated at Siltara Industrial Complex, Raipur from 24 ltpa to 27 lakh tons per annum.

Ester Industries, which in May entered into a definitive agreement to sell its Engineering Plastic Business to Radici Plastics India Private Limited, has completed the all-cash slump sales transaction worth ₹289.33 crore.

Syncom Formulations India Ltd's project for expansion cum Modernisation of the existing plant 256-257 Industrial Area Sector I Pithampur, District Dhar (MP) 454775 was expected to be completed by September 30. The Civil Structure of the project is complete and machine installations are under progress. However, due to certain delays in machine supply, the project is delayed and the company is hopeful to start production in the fourth quarter of the financial year.

Published on September 16, 2022
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