State Bank of India has received the board’s approval to raise up to ₹11,000 crore through issuance of bonds. The bank’s central board, at its meeting held on Wednesday, approved raising capital by way of issuance of Basel lll compliant debt instrument in USD/INR and/or any other convertible currency, in FY23, according to a regulatory filing.
Ador Welding Ltdhas received a Letter of Award for ₹145 crore inclusive of all taxes, duties & levies including GST @ 18 per cent, from ONGC, Uran. The project is for Design, Engineering, Supply, Erection & Commissioning of Demountable Flare Stack Project on LSTK basis at their roNGCs) Uran Plant.
The board of directors of Som Distilleries and Breweries Ltd has approved raising of funds through Issue of Convertible Equity Warrants to the Promoters, Promoter’s Group and Other Public Investors on Preferential Basis by issuing up to 40 lakh warrants convertible in one or more tranches to equity shares of ₹5 each of the company at ₹72 for each Warrant subject to necessary shareholders/ regulatory approvals, as applicable.
Insecticides (India) Limited has incorporated a wholly owned subsidiary namely “IIL Biologicals Limited, which will carry on the business of manufacturing, sale, purchase, etc. of all kind of organic and biological farming fertilisers, bio-pesticides, bio-control agents or any other allied products.
In the matter of arbitration between McNally Bharat Engineering Company Limited and Singareni Collieries Company Limited, the Arbitral Tribunal is awarded a total sum of ₹242.07 crore in favour of the company. Singareni Collieries is directed to pay the same within one month from the date of the order.
The board of Espire Hospitality Limited, after necessary approvals from the Audit Committee of the company, has decided to enter into a Lease Agreement with Sarp Hotels Private Limited, for taking on lease a piece of land admeasuring 3858.16 Sq Mt out of the total land situated at Country Inn Kincraig Mussoorrie Dehradun, Uttarakhand, for Hospitality Business.
NHPC has signed a Memorandum of Understanding (MoU) with Damoder Valley Corporation (DVC) to “Explore formation of Joint Venture company (JVC) for setting up Hydropower and Pump Storage Projects. The MoU heralds a new dawn in co-operation between the two Power Sector Organisation in jointly harnessing the Hydropower Projects and Pump Storage Projects as Energy Storage Solutions in line with the national objective of Energy Transition i.e 500 GW of renewable energy by 2030 and Net Zero by 2070. The MoU envisages joint development of mutually identified projects.
Info Edge (India) Ltd has invested an amount of ₹15 crore in Smartweb Internet Services Ltd., wholly owned subsidiary of the Company. It already holds 100 per cent stake in Smartweb on a fully converted and diluted basis. The deal falls in the category of a related party transaction.
Results Calendar: Canfin Home, Crisil, CSB Bank, Cyient, DRC Systems, Elecon Engineering, Embassy Office Parks, Franklin Industries, GSFC, Gujarat Cotex, Happiest Minds, HIndustan Zinc, Himadri Specialty Chem, Hitachi Energy, IDBI, Indiamart, ICICI Securities, Kajaria Ceramics, Meghmani Finechem, MphasiS, Orient Bell, Osiajee Texfab, PCBL, Persistent Systems, PIoneer DIstilleries, Prismx Global, PVR, Quick Heal, RBL Bank, Ramkrishna Forgings, Rane (Madras), Samkrg Pistons, SRF, Tokyo Plast and Vivanza BIosciences.
July 21, 2022