Texmaco Rail & Engineering is in the process of executing an export order of wagons worth ₹64 crore for ArcelorMittal Liberia Ltd engaged in iron-ore mining in the West African country, a PTI report quoting company official said on Sunday. The Kolkata-based company had designed and manufactured ‘Gondola’ wagons, open-topped rail vehicles, for the first time for AML for carrying iron ore.
Domestic passenger vehicles sales rose 23 per cent to a record of 37.93 lakh units in 2022 led by the likes of Maruti Suzuki, Hyundai and Tata Motors as the companies rode on easing of pandemic related challenges and semiconductor shortages to cash in on pent up demand, specially for SUVs. Other manufacturers like Toyota Kirloskar Motor and Skoda India also reported record sales in 2022.
Supreme Petrochem Ltd has announced that Consent to Operate (CTO) has been received by company from Maharashtra Pollution Control Board (MPCB) on December 30 for polystyrene (PS) and expandable Polystyrene (EPS) capacity expansion projects at Amdoshi plant, Raigad, Maharashtra. Consequently the company’s effective manufacturing capacity of PS will stand increased from the existing 2,20,000 MTA to 3,00,000 MTA and EPS from 50,000 MTA to 85,000 MTA.
The board of Mishtann Foods has approved the fund raising by way of an issuance of equity shares of face value of ₹1 each to its eligible equity shareholders on a rights basis for a value not exceeding ₹150 crore, subject to necessary approvals.
The board of Welspun Enterprises has approved, subject to shareholders’ nod, to undertake buyback of 1,17,50,000 equity shares of ₹10 each at ₹200 a share for an aggregate amount of ₹235 crore through the tender offer route. The promoters and promoter group have expressed their intention to tender up to a maximum of 53,50,000 shares out of the 8,06,25,603 shares held by them. The board also approved to pay One Time Special Dividend of ₹7.50 a share.
The rights issue committee of the board of Family Care Hospitals Limited (formerly Scandent Imaging) has approved the terms. Accordingly, the issue size is 4,07,67,000 fully paid-up equity shares having face value of ₹10 each at ₹12 a share aggregating up to ₹48,92,04,000.
JK Lakshmi Cement has announced its tie up with GreenLine, a pioneer in green and smart logistics in India, for the introduction of LNG fueled heavy trucks in its logistics. With this association, GreenLine will enable JK Lakshmi Cement to decarbonise its road logistics operations in a phased manner over the next few years. Starting with a fleet of 10 LNG trucks plying on the Sirohi (Rajasthan) - Surat (Gujarat) route, the companies plan to scale this up substantially over the next two years.
The board of Krishna Institute of Medical Sciences Limited is scheduled to be held on January 4, to consider and approve raising of funds by way of issuance of Non-Convertible Debentures (NCDs), aggregating to ₹300 crore in one or more tranches over a period of time.
RITES Ltd has signed a memorandum of understanding with KIIFCON, a consultancy organisation under the Kerala Infrastructure Investment Fund Board (KIIFB), to jointly explore, identify, secure, and execute consultancy projects. As part of the MoU, both entities will work as partners (development and execution) to provide consultancy for transport and infrastructure projects in various sectors, including highways, airports, ports & waterways, urban transport (metros), sustainability, urban/industrial planning, bridges & tunnelling, and railway infra etc., across the domestic and international market. They will jointly develop a ‘go-to’ market strategy to work proactively and bring in best practices by leveraging each other’s strengths to optimise operations.
Kilitch Drugs (India) Limited has made additional investment of ₹2,68,000 to acquire equity shares of Kilitch Estro Biotech PLC, foreign subsidiary of the Company to meet working capital requirement of the Company.
Adani Power on Saturday said the timeline for the completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended till January 15, 2023. Earlier, the company had extended the timeline for completion by a month till December 31, 2022.
HG Infra Engineering has emerged the L1 bidder for a Delhi Metro Rail Corporation project for ₹412.11 crore and the construction period is 24 months.
Life Insurance Corporation of India has decreased its stake in NMDC by 2.07 percentage points via open market transactions. With this, LIC’s shareholding in NMDC is reduced to 13.699 per cent, from 15.772 per cent.
Religare Finvest and parent company Religare Enterprises have entered into a one-time settlement agreement with 16 lenders for a full and final settlement of Religare Finvest’s dues. Religare Finvest has been taking necessary corrective measures as advised by the Reserve Bank of India, and will seek the removal of the CAP (corrective action plan) in due course, so that Religare Finvest can restart its lending business.
63 moons technologies has informed the exchanges that it will provide software support services to the Multi Commodity Exchange of India for another six months, from January 1, 2023 at the request of bourse. The earlier software support and maintenance agreement ended on December 31, 2022.