SUNDARAM CLAYTON LTD
The Company's major plants has declared 28th December 2019, 30th
December 2019 and 31st December 2019 as non-working days, due to
business slowdown across sectors.
SKIPPER LTD
Skipper Limited becomes the first company in India to have
successfully designed, fabricated and type tested a 765 kV S/C
Monopole.
This monopole measuring 55 m in height was designed for hexa zebra conductor with a ruling span of 250m
and wind zone IV. This project was executed under the guidance of PGCIL in Central Power Research Institute
(Bangalore) and this design is expected to be used for their future monopole requirements.
SHRIRAM TRANSPORT FINANCE
Company has further upsized the Global Medium Term Note Programme from
existing USD 2,000,000,000 (US Dollars Two Billion) to USD 3,000,000,000 (US
Dollars Three Billion) to issue debt securities in international markets by way of
public/private issue, subject to market conditions. The Banking & Finance meeting
commenced at 09.30 P.M. and concluded at 10.00 P.M.
SEAMEC LTD
Contract
with Oil & Natural Gas Corporation Limited (ONGC) for deployment of Vessel SEAMEC I
has been further extended till 3rd May, 2020 as notified by ONGC
RITES LTD
RITES declares interim dividend of 60% amounting to 26 per share
Public Sector
Enterprise under Ministry of Railways, in its meeting held today declared interim dividend of %6
per share of 210 each (at the rate of 60% of paid up capital).
“RITES has demonstrated its capacity to execute across segments and simultaneously able to
protect its margins in the H1 of FY20. We had a strong Hl FY20, where we have seen our
standalone revenue going up by 71% and profit-after-tax up by 72% on YoY basis. This growth
has enabled us to announce healthy interim dividend,” said Mr. Rajeev Mehrotra, Chairman
and Managing Director, RITES Limited.
Standalone revenue of the company for the First half of FY20 has been 1423 crore and profit
after tax has been %325 crore. For the FY20 so far, the company’s dividend payout ratio stands at
46% (on 6 month PAT). In FY19, the company generated standalone profit after tax of %445
crore and declared dividend of 255 crore.
The record date for the purpose of payment of dividend is 10" January 2020.
Board of Directors has also approved investment of %48 crore for acquiring a stake of 24% in
Indian Railways Station Development Corporation Ltd. This investment is being done at face
value i.e. 10 per share and will provide RITES an opportunity of growth in the emerging field
of development of railway stations.
RELIANCE INFRA
RELIANCE INFRASTRUCTURE RECEIVES RS. 94 CRORE FROM GOVERNMENT
OF GOA AGAINST ARBITRATION AWARD OF RS. 350 CRORE
RELIANCE INFRASTRUCTURE TO UTILISE 100% OF PROCEEDS ONLY FOR
DEBT REDUCTION
Reliance Infrastructure won Arbitration award of Rs 350 crore,
including interest, against Government of Goa
The matter went into arbitration when Goa state utility delayed payments to Reliance
Infrastructure for power supplied from its 48 MW-Goa Power Plant in Sancoale
The Arbitration Tribunal, on February 16 2018, had ordered the Government of Goa to pay Rs
350 crore, including interest, in favour of Reliance Infrastructure. The Arbitral Tribunal has also
directed that in the event Government of Goa fails to comply with the award, interest at the rate
of 15% per annum will be payable in favour of Reliance Infrastructure Ltd
As per the Tribunal order, the Government of Goa has deposited in Court, Rs 50 crore in
November 2019 and Rs 44 crore on 20th December 2019. Pursuant to the recent Niti Aayog
circular, Reliance Infrastructure will request Government of Goa to pay balance of 75% of the
Arbitral award against Bank Guarantee immediately.
The proceeds will be used to pay lenders and reduce the debt of Company. Reliance
Infrastructure aims to be debt-free in 2020.
PI INDS
PI Industries~ completes acquisition of lsagro Asia
PI Industries Limited (PI}, a company with an
integrated approach to agri sciences business, today announced the completion of its
acquisition of lsagro (Asia} Agrochemicals Private Ltd (lsagro Asia} from lsagro Spa
and its affiliates, a deal which was signed in Nov, 2019.
The total transaction value is INR 345 Crore plus surplus cash on closing date subject
to final adjustments for net working capital.
lsagro Asia, who are engaged in Contract Manufacturing, local distribution and
exports of agrochemicals, have reported revenue of "'Rs. 314 Crore and Net Profit of
"'Rs. 23 Crore for the year ended 31st March, 2019. It has "'30 Acre manufacturing site
including production plants for agrochemical technical and formulations adjacent to
PI's manufacturing unit in Panoli.
This acquisition will provide access to additional manufacturing capacities, synergy
benefits of adjacent mfg site, long term contract for export of products to lsagro Spa
and on the other hand will help PI strengthen its position in domestic market by
leveraging complementary product portfolio and pan India distribution channel of
the acquired entity.
ORICON ENTERPRISE LTD
Company has prepaid the Term Loan of Rs. 300 Crores taken
from Indiabulls Housing Finance Limited by making prepayment of balance amount of Rs.
128.57 Crores on 27th December, 2019 and have received No Dues Certificate from Indiabulls
Housing Finance Limited dated 27th December, 2019.
KARDA CONSTRUCTION
We are pleased to inform you that the Company,
participated at the event “Shelter, Property Expo 2019” held on December 19,2019 to
December 22,2019 hosted by the CREDAI Nashik at Nashik and achieved booking of 22
units in its on-going projects.
Further during the quarter starting from October 1,2019 to till date company has been
successful in achieving 74 bookings in its on-going projects.
ITD CEMENTATION
lTD Cementation India Limited wins First Overseas Maritime assignment in
Myanmar Order valued aggregating to USD 80 million
lTD Cementation India Limited has won First Overseas Maritime
assignment in Myanmar Order valued aggregating to USD 80 million
INDIAN OVERSEAS BANK
lnfusion of Copitol by Governmenl of lndiq
Bank hos received vide lelter doted 25.12.2019 o
sonciion from Government of lndio for releose of Rs.4360 crore lowords
conkibution of the Centrol Government in the preferentiol ollotment of equity
shores (Speciol Securities/Bonds) of the Bonk during lhe finonciol yeor 2019-20
os Government's investment
ICRA LTD
we wish to update that SEBI has concluded its adjudication proceedings. SEBI vide
its adjudication order dated December 26,2019, has imposed a penalty of INR 25 lakh on ICRA
Limited (the "Company" or "ICRA") under section 15HB of SEBI Act, 1992. ICRA is reviewing
the adjudication order and considering the appropriate course of action.
GATEWAY DISTRIPARKS
Gateway Distriparks to Sell its Stake in Snowman Logistics Ltd
Gateway Distriparks Limited (GDL) has entered into a Share Purchase Agreement to sell
its entire stake of 40.25% in Snowman Logistics Ltd. (Snowman) to Adani Logistics
Limited for a consideration of INR 295.92 crores. Snowman is the largest cold chain
provider in India and provides integrated temperature-controlled warehousing
transportation and distribution services. The transaction will be completed on or before
31st March 2020. HDFC Bank was the exclusive financial advisor to GDL for this
Transaction.
Prem Kishan Gupta, Chairman and Managing Director of Gateway, commented “Gateway
Distriparks will be focusing its activities in the container logistics business and will use
the net proceeds from this sale towards reduction of debt.”
DAWAAT
This is
to inform you that Daawat Kameda India Private Limited, a 51:49 Joint Venture( JV) between LT Foods Limited and
Kameda Seika, Japan has inaugurated a manufacturing facility in Sonipat as on 27th December, 2019.
LT Foods is a leading Rice based Food Company with Strong Global Brands of Basmati, i.e., “Daawat”, “Royal”, etc.
and other Specialty Rice, Organic Foods and Rice-based Convenience Products and Kameda Seika, a Japanese snack
food major entered into a joint venture in 2017 to manufacture rice based premium snacks in India. Based on changing
consumer needs and preferences and the demand for tasty and healthy snacks, the Company has ventured into the
premium snacks category in India with its rice based snacks “Kari Kari”. Post the successful test launch of the rice
based snacks “Kari Kari” in Delhi-NCR, Mumbai and Bangalore across Modern Trade stores, the JV Company will
now manufacture the rice based snacks in India through this manufacturing facility in Sonipat.
The JV Company Daawat Kameda India Private Limited will manufacture “Kari Kari” from locally sourced
ingredients & raw materials and will now be expanding its distribution pan India.
CADILA HEALTHCARE
This is to bring to the notice of the members of the exchange and the investors at large, that
today’s media report about Cadila Healthcare Ltd’s plans to sell two of its divisicms is a
speculative one. We wish to state that the Company has no such plans.
BHEL
BHEL commissions first renovated unit of 3X60 MW Baira Siul Hydro Project
Bharat Heavy Electricals Limited (BHEL) has successfully renovated
and modernised one unit of the 3x60 MW Baira Siul Hydro Power in Himachal Pradesh.
Notably, Baira Siul is the first hydro station of NHPC Ltd to have been taken up for
comprehensive Renovation & Modernisation (R&M
Significantly, BHEL won the order for R&M of three units of the Baira Siul Hydro Power Station
located in Chamba district of Himachal Pradesh, amidst stiff competitive bidding. R&M of the
other two units is under various stages of execution
BHEL's scope in the project comprises design, manufacture, supply, replacement and
commissioning of critical parts of Turbines & auxiliaries, Governors, Generators and Control
& Monitoring. The equipment has been supplied from BHEL's manufacturing units at Bhopal,
Bengaluru and Jhansi, while the on-site installation activities were carried out by the
company's Power Sector - Northern Region division, Noida
R&M of the project will result in restoration of output capacity and improvement in efficiency,
in addition to leading to better plant availability and life extension of equipment. Significantly,
the capacity of the turbine for each unit is designed for a rated output of 60 MW at reduced
rated head of 238.1 metres. The turbines installed in 1980-81 were designed for a rated head
of 260 metres
BHEL is also the Original Equipment Manufacturer (OEM) of these hydro units. BHEL is fully
geared up to take up R&M jobs of hydro units of BHEL & non-BHEL make sets.
BHEL is presently executing hydroelectric projects of more than 6,000 MW, which includes
2,910 MW of projects within the country and 3,224 MW abroad. In addition, BHEL is also
carrying out comprehensive Renovation and Modernization of more than 699 MW hydro
projects across the country. Significantly, more than 500 hydroelectric generating sets of
various ratings have been ordered on BHEL with a cumulative capacity of more than 30,000
MW, including 6,720 MW for overseas projects. BHEL's hydro plants are successfully
performing in India and across the world, including countries such as Afghanistan, Azerbaijan,
Bhutan, Malaysia, Taiwan, Tajikistan, Rwanda, Thailand, New Zealand, Nepal and Vie
BEML LTD
BEML signed MoU with IRCON International Limited
BEML Limited, a schedule A company under Ministry of Defence, and a leading Rail &
Metro manufacturer, signed a Memorandum of Understanding (MoU) with M/s IRCON
International Limited to explore and address opportunities in the overseas market by
synergizing each other’s strengths for large infrastructure projects in the transportation
sector.
At a function held in New Delhi on 27th December 2019 MoU copies were exchanged in
the presence of Dr. D K Hota, CMD, BEML and Mr. S K Chaudhary, CMD, IRCON
International Limited.
This MoU is aimed at promoting supply of BEML manufactured rolling stock as well as
construction equipment for Railway projects outside India wherein IRCON will carry out
civil and construction work as well as facilitate design validation and provenness for
rolling stock of BEML to address export opportunities together.
Speaking on the occasion, Dr. D K Hota, CMD, BEML, said, “both the companies by
synergizing their strengths can attain new heights in the International Market. Govt of
India LoC is huge opportunity for BEML & IRCON to work together”. CMD BEML also
mentioned that the true vision of Hon’ble Prime Minister’s “Make in India” is epitomized
by BEML’s strong manufacturing and R&D capabilities.
Mr. S K Chaudhary, CMD, IRCON, said, “IRCON has a strong International presence
and have proven capabilities in the field of track laying, construction, electrification of
railway and infrastructure construction projects and are presently operating in Algeria,
Myanmar, Bangladesh, Nepal and Sri Lanka”. He appreciated BEML’s capabilities and
international presence expressed that this MOU may turn a significant leaf in the
journey of both these great organizations for projects outside India.
This is a step towards further thrust on globalization by joining the complementary
strengths of two large CPSEs
ADANI PORTS
The Board of Directors of Adani Ports and Special Economic Zone Limited
(“APSEZ”) have passed a resolution by circulation on December 27, 2019 and the
Finance Committee of APSEZ has passed a resolution dated December 27, 2019
for approving the funding of an aggregate amount of INR 500,00,00,000 for
acquisition by Adani Logistics Limited (“ALL”), a wholly owned subsidiary of
APSEZ, for a cash consideration, of (i) 6,72,54,119 equity shares representing
40.25% of the total voting equity share capital of Snowman Logistics Limited
(“Snowman”) from Gateway Distriparks Limited (“GDL”) at a price of INR 44 per
equity share aggregating to INR 295,91,81,236, by way of a share purchase
agreement dated December 27, 2019 executed between ALL, Snowman and GDL
(“Share Purchase”); and (ii) up to 4,34,42,879 equity shares representing 26% of
the total voting equity share capital of Snowman, in the consequent mandatory
open offer at a price of INR 44 per equity share aggregating to INR 191,14,86,676,
in accordance with Securities and Exchange Board of India (Substantial
Acquisition of Shares and Takeovers) Regulations, 2011 (“SAST Regulations”), and
subsequent amendments thereto (together with the Share Purchase, the “Proposed Transaction”).