Adani Power after market hours on Tuesday, 31 December 2013 said that its 4,620 megawatts (MW) power plant at Mundra, has set a record by attaining the highest generation of 4,644 MW, making it the only power station of such a gigantic size to reach a significant milestone in electricity production. The generation so far was constrained due to inadequate evacuation capacity, which has been alleviated with guidance, support and cooperation of various state and central grid authorities, Adani Power said in a statement.
Adani Power has a thermal power generating capacity of 7,920 MW, consisting of 4,620 MW at Mundra, 1,980 MW at Tiroda and 1,320 at Kawai. The Mundra plant, which is one of the world's largest private coal based power station at a single location, has five units of 660 MW and four units of 330 MW each. All the 660 MW units are based on environment friendly supercritical technology, Adani Power said in a statement.
Commenting on the development, Mr. Gautam Adani, Chairman, Adani Group said, Adani Power is committed to narrow the demand supply gap in electricity in India. We are proud that the Mundra plant has surpassed its installed capacity of 4,620 MW. This is a national record in the Indian power sector. We, at Adani, are devoted towards nation building and this project is dedicated to the people of India. We are confident of achieving a target of generating 9,240 MW of electricity by March 2014.
Mr. Vneet S Jaain, CEO, Adani Power said, Achieving 4,644 MW power generation at Mundra is one more feather in the cap of our Mundra plant. The state-of-the-art technology used in this project and Adani's expertise in management of such complex projects are key to its success. We hope to replicate this feat at our other projects too.
Canara Bank said it allotted 1.82 crore equity shares to the Government of India on a preferential basis on 31 December 2013.
Coromandel Engineering Company on Tuesday, 31 December 2013 said that a meeting of the rights issue committee of its board of directors will be held on 3 January 2014, to consider the terms of the proposed issue of equity shares on rights basis.
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Lakshmi Vilas Bank on Tuesday, 31 December 2013 said that its board of directors will meet on 3 January 2014, to consider and if thought fit, to approve the proposal for further issue of equity shares on rights basis, to existing shareholders of the bank, subject to the applicable laws and regulatory approvals.
Mindtree at the fag end of trading hours on Tuesday, 31 December 2013 said that its chairman Subroto Bagchi has gifted one-third of his shareholding in Mindtree to his spouse Susmita Bagchi. This is purely a personal arrangement for estate planning and does not in any way change Subroto Bagchi's professional capacity as chairman of Mindtree, the company said in a statement. This transfer also does not cause any change in the shareholding belonging to the category Promoter and Promoter Group, Mindtree added.
OnMobile Global after market hours on Tuesday, 31 December 2013 said that its board of directors vide their circular resolution dated 30 December 2013, approved the declassification of Arvind Rao as promoter of the company.
Bodal Chemicals' board of directors at a meeting held on Tuesday, 31 December 2013, allotted 30 lakh, 9% non cumulative redeemable preference shares (non convertible) at face value of Rs 10 each aggregating Rs 3 crore to non-promoters, as per the requirement of approved Corporate Debt Restructuring (CDR) package.
Sutlej Textiles and Industries on Tuesday, 31 December 2013 said that the rating of the company's long term bank facilities (instruments) has been upgraded by Credit Analysis & Research CARE to CARE A [Single A Minus] from CARE BBB [Triple B] indicating adequate degree of safety regarding timely servicing of financial obligations and a low credit risk to these instruments.
Further, short term bank facilities (instruments) has been upgraded by CARE to CARE A2+ [A Two Plus] from CARE A3+ [A Three Plus] indicating strong degree of safety regarding timely payment of financial obligations and a low credit risk to these instruments, Sutlej Textiles said.
Cressanda Solutions on Tuesday, 31 December 2013 said that it has fixed 15 January 2014 as the record date for 10-for-1 stock split.
Aarti Industries after market hours on Tuesday, 31 December 2013 said that it has received orders from Gujarat Pollution Control Board (GPCB) for closure of manufacturing activities at two of the various plant locations at Vapi, viz. Alchemie Organic Division and Aarti Fertilizers divisions at Vapi, from 1 January 2014.
The said respective divisions of the company have started taking necessary measures to meet the relevant requirements for applicability of guidelines issued in this regard during January 2014, Aarti said in a statement.
Aarti said that the said plants annually contribute around 15% of the operating profit of the company and would, thus, have an impact on the volumes and profitability of the company for the quarter ending 31 March 2014.
Aarti said it would make necessary applications to GPCB for revocation/withdrawal of the said orders in order to resume manufacturing operations as soon as possible.
Maa Jagdambe Tradelinks after market hours on Tuesday, 31 December 2013 said that its board of directors has fixed 10 January 2014 as the record date for 5-for-1 stock split.
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