UltraTech Cement Middle East Investments Limited (UCMEIL), a wholly owned subsidiary of Ultratech Cement Limitedhas invested in 29.39 per cent equity share capital of ‘RAK Cement Company for White Cement and Construction Materials PSC, (RAKWCT), a company listed on the Abu Dhabi and Kuwait Stock Exchanges. This combined with the existing shareholding, UCMEIL will hold 29.79 per cent of the equity share capital of RAKWCT.
TVS Motor Company Limited Has acquired 1.81 percent stake in Ropan Transportation Services Private Limited (Rapido). The company has also clarified that holding in Rapido shall constitute less than 5 percent of the shares or voting rights in Rapido.
Adani Enterprises has incorporated a WOS named Alluvial Heavy Minerals Limited (AHML) on 13th April, with an initial authorized and paid-up share capital of ₹10 lakhs, for manufacturing and processing of minerals, Ti02 slag manufacturing, pigments manufacturing, etc. and to carry out all necessary and emergent activities in this regard. AHML will commence its business in due course.
Tata Power Company Limited and the BlackRock Real Assets-led consortium, including Mubadala Investment Company, have entered into a binding agreement to invest in Tata Power’s renewable energy subsidiary, Tata Power Renewable Energy Ltd. BlackRock Real Assets, in association with Mubadala, will invest ₹4,000 crore ($525 million). ) for 10.53 per cent stake in Tata Power Renewables through equity/compulsory convertible instruments, translating to a base equity valuation of ₹34,000 crore. The final shareholding on the last conversion will range from 9.76 per cent to 11.43 per cent.
Mahindra Holidays & Resorts IndiaLtd., which currently holds 6.67 per cent stake in Great Rocksport Pvt Ltd, has agreed to subscribe to an additional 4,88,321 equity shares of Rocksport for ₹12 crore in three tranches. After the completion of the second tranche of investment, the company’s stake in RockSport will increase to 23.42 per cent. Rocksport Soft is engaged in business of adventure-based activities and learning programs.
Fabric Stock: The selection committee of the Ministry of Textiles has selected 61 applicants under the Production Linked Incentive (PLI) Scheme for Textiles. The scheme has two parts – Part I where the minimum investment is ₹300 crore and the minimum turnover required to receive the incentive is ₹600 crore; and Part-II, where the minimum investment is ₹100 crore and the minimum turnover required to receive the incentive is ₹200 crore.
Listed companies availing PLI are HP Cotton Textile Mills Ltd., Himmatsingka Seed Ltd., Trident Ltd., AYM Syntex Ltd., Donear Industries Ltd., Gokaldas Exports Ltd., Pearl Global Industries Ltd., Sangam (India) Ltd., Monte Carlo Fashions Ltd., Arvind Ltd. Huh. Ginni Filaments Ltd., KG Denim Ltd. and SVP Global Textiles Ltd.
Meanwhile, the Finance Ministry on April 13 waived off customs duty on cotton imports till September 30. At present, cotton imports attract 5 per cent of Basic Customs Duty (BCD) and 5 per cent of Agricultural Infrastructure Development Cess (AIDC).
Jubilant Ingravia Limited has secured a CDMO contract with one of its international clients for an estimated value of ₹270 crore in the specialty chemicals business over a period of three years, making it one of the top 10 leading innovator pharmaceutical companies globally. Through the contract, the company Innovator Pharmaceutical will supply two key GMP intermediates for one of the customer’s ‘patented drugs’. Both of these products contain seven step special chemicals.
Indiamart Ltd. said that its wholly owned subsidiary, Tredzeal Online Pvt Ltd, has invested around Rs 7.5 crore to purchase Compulsory Convertible Debentures (CCDs) of Truckhall Pvt Ltd. SuperProcure is a SaaS platform that digitizes the entire freight sourcing and dispatch monitoring system of an organization’s logistics department. It allows logistics departments to find out the best possible rates through a transparent bidding and auction structure, thereby saving costs.
Surya Roshni Limited has announced the commercial production of an imported mill for manufacturing heavy structural hollow square/rectangular section steel tubes with straight forming technology with an installed capacity of 36,000 tpa at Gwalior, Madhya Pradesh with effect from 14th April.
Nagarjuna Fertilizers And Chemicals Limited It has resumed urea production at Plant-II in Kakinada, Andhra Pradesh from April 15, and is expected to stabilize production by April 20. Prithvi Asset Reconstruction and Securitization Company Limited (PARAS) has filed a company petition under section 7. Against Insolvency and Bankruptcy Code, 2016 (IBC) Andhra Cement at NCLT, Hyderabad.
Avexia Lifecare The plant at Vadodara has completed all the formalities for commissioning the Active Pharmaceutical Ingredient (API)/Intermediate Manufacturing Plant of Isometamidium (Isometa) from April 18. The company has also decided to build a plant facility of over 1,50,000 square feet at its Vadodara location. This facility will be in accordance with the USFDA for the manufacture of other API and intermediate products.
salzer electronics has obtained a patent for its integral cam-operated rotary switch. Salzer received a patent for this invention from the Patent Office, Government of India for a period of 20 years ending 2031.
Tushar Mistry resigns as Chief Financial Officer Sequence Scientific Ltd. On April 14th to pursue other professional opportunities. He will continue in his current role till the end of working hours on 31st May.
SIS Limited has signed a share subscription agreement to acquire 7.65 per cent stake in Stack Technologies Pvt Ltd for ₹5 crore. Staqu is primarily a video and audio analytics and platform company. Its product is an AI tool in video analytics and video management solutions called Jarvis (Joint AI Research for Video Instances and Streams) that helps its customers.
board of InterGlobe Aviation (Indigo) has announced the appointment of Vikram Singh Mehta and Air Chief Marshal BS Dhanoa (Retd) as independent non-executive directors, subject to security clearance from the Ministry of Civil Aviation (MoCA) and approval of the members of the company.
Cupid An order has been received from the Medical Stores Department of the Government of Tanzania for the supply of male condoms worth about Rs 65.84 crore.
Vishal Fabrics Limited announced that the company has added a new denim line that commenced operations at the end of March 2022 with a total capacity of 10 million MPa (million per annum). In addition, the company plans to add a second denim line with a capacity of 10 mmpa, which will start in the second half of FY23. The company currently has eight existing denim lines with an annual capacity of 80 mmpa. With these additional two lines, the annual capacity of the Dholi unit will increase to 100 mmpa.
Sahyadri Industries Limited Ltd. has successfully completed the expansion of the plant located at Perundaraya (Tamil Nadu) and started commercial production of flat sheet products on 14th April. This will increase the total production capacity to 72,000 TPA. This facility will help in expanding the existing market share of the company in South India.
Fermenta BiotechWhich had earlier signed a binding term sheet for the company’s real estate development with Mextec Property Developers, has extended the validity period from 75 days to 135 days.
Result Calendar: DRC Systems, Earm Pharma, Mindtree, Mishtan Foods, SE Power, Star Housing Finance, Sheetal Cool Products and Swiss Military.
Published on
18 April 2022