NTPC announced after market hours yesterday, 26 February 2015, that the Unit-III of 500 MW of Vallur Thermal Power Project of NTPC Tamil Nadu Energy Co. (NTECL), a joint venture of the company, and TANGEDCO, is declared on commercial operation from the midnight of 26 February 2015. With this the total commercial capacity of Vallur Thermal Power Project has become 1,500 MW and that of NTPC Group- 43,143 MW.
Tata Power Company announced after market hours yesterday, 26 February 2015, that its Strategic Engineering Division (Tata Power SED), in a consortium with L&T, is one of the two down-selected Development Agencies for Ministry of Defence's prestigious "MAKE" Program "Battlefield Management System (BMS)". Tata Power SED is the lead of the consortium.
BMS is a Network Centric Program being indigenously developed for the Indian Army under the MAKE category of Defence Procurement Procedure. It is the second such Program that Tata Power SED and L&T are collaborating for. In next 5-7 years, when BMS will be deployed by the Army, it will cover more than 70% of soldiers while digitizing the Tactical Battlefield and creating a secure IoT (Internet of Things) for the Army.
The down-selection of Tata Power SED - L&T consortium enables it to participate in the Prototype Development Phase of this MAKE Program followed by a Production Order, which will be decided by the MoD after successful completion of the Prototype. Tata Power SED is one of the few private companies with a track record of over four decades in Defence R&D and Production. Project BMS is of special importance as it gives an opportunity to serve a very large section of the Indian Army.
GAIL (India) announced after market hours yesterday, 26 February 2015, said its board of directors at a meeting held today, 26 February 2015, approved payment of interim dividend of Rs 3 per equity share for the year ending 31 March 2015. The company has fixed 3 March 2015 as record date for the purpose of payment of interim dividend.
DLF said before market hours that it has been made aware of adjudication orders passed by SEBI under Section 15 of the SEBI Act, 1992 against DLF, its directors and other notices. The company is presently reviewing the said Orders and after taking appropriate legal advice, the company will challenge the said Orders in appeal. On similar facts, SEBI had earlier passed an Order dated 10 October 2014 inter alia under Section 11 of the SEBI Act, 1992 against DLF and its directors, which Order was challenged by the company before the Securities Appellate Tribunal. DLF wish to reassure its investors and all other stakeholders that it has not acted in contravention of law either during its initial public offer or otherwise. DLF and its board were guided by and acted on the advise of eminent legal advisors, merchant bankers and audit firms while formulating its offer documents. DLF will defend itself to the fullest extent against any adverse findings and measures contained in the Orders passed by SEBI. DLF has full faith in the judicial process and is confident of vindication of its stand in the near future.
Reliance Industries (RIL) will be watched. With respect to the recent media reports on "Corporate Espionage" referring to information leakage of classified documents from the petroleum ministry. The said media reports have referred to investigation being currently carried out in the matter and action initiated against certain corporate executives. Reliance Industries clarified after market hours yesterday, 26 February 2015, that it has been informed in the media that one personnel has been arrested. The company is ascertaining more details through an internal enquiry. The company remains committed to communicate all material developments impacting the company to its stakeholders in a timely and appropriate manner.
IFCI said after market hours yesterday, 26 February 2015, that, based on recent developments including operational and financial performance of IFCI for the 9 months period ended 31 December 2014, CARE Ratings have revised the rating assigned to debt instruments of IFCI upward from 'CARE A' to 'CARE A+' for long term Bank facilities and long term debt instruments, from 'CARE A1' to 'CARE A1+' for short term bank facilities and Commercial Paper and from 'CARE A-' to 'CARE A' for Subordinate Bonds.
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With reference to the earlier letter dated 8 January 2015, Titagarh Wagons announced after market hours yesterday, 26 February 2015, that consequent to sale of entire shares held by the company and its wholly owned subsidiary respectively in Greysham And Co the said cmpany (Greysham) has ceased to be a Subsidiary/lndirect Subsidiary of the company on and from 20 February 2015.
Minda Industries announced before market hours that Minda Industries UNO Minda Group, is entering into a Joint Venture Agreement with Kosei International Trade and Investment Company, a Kosei Group company. The Kosei Group is a leading Japanese Alloy Wheel manufacturer. The proposed plant of the joint venture company will be located at Bawal (Haryana) for manufacturing and supply of alloy wheels for passenger vehicles. The proposed shareholding of the Joint Venture Company will be in the ratio of 70:30 i.e. UNO Minda Group 70% and Kosei Group 30%. The cost of the project is estimated at Rs. 200 Crores. (First phase) The commercial production of the plant is expected for February, 2016 with a monthly capacity of 60,000 units.
Bank of Baroda said that the government will acquire 6.44 crore equity shares of the bank on preferential basis at an issue price of Rs 195.59 per share aggregating to Rs 1260 crore. Post allotment, the government's stake in the bank will rise by 1.27% to 57.53%.
Rural Electrification Corporation (REC) said that its wholly owned subsidiary, REC Transmission Projects Company (RECTPCL), has transferred 50,000 equity shares of Vindhyachal Jabalpur Transmission (VJTL) to Power Grid Corporation of India (PGCIL) and their nominees on 26 February 2015, upon the terms and conditions as detailed in the Share Purchase Agreement executed between RECTPCL, VJTL and PGCIL, for establishment of "transmission system strengthening associated with Vindhyachal-V".
MCX will be watched after it announced that Forward Market Commission (FMC) approved Axis Mutual Fund and Reliance Mutual Fund for acquiring upto 5% of equity shares capital of MCX.
Bharat Electronics (BEL) and Rolta India will be watched. BEL, India's leading Defence electronics company, and Rolta India, a leading provider of innovative IT solutions for many vertical segments, announced that the Ministry of Defence (MoD) has selected the exclusive consortium of BEL and Rolta India as a Development Agency for the Battlefield Management System (BMS) project worth over Rs 50,000 crore.
The BMS project, categorised as a "Make" programme under the DPP, will be one of the largest solutions to be indigenously manufactured for the Indian Defence.
This project is meant to deliver Command and Control capabilities to the fighting echelons, operating at the forward edge of the Tactical Battle Area at the Battalion and Combat Group levels. BMS is a situational awareness and visualisation system that aims to optimise the operational effectiveness of tactical units.
Tube Investments of India announced that TI Tsubamex (TTPL), a joint venture company with Tsubamex Company (Tsubamex), Japan on 26 February 2015 has become a subsidiary of the company consequent upon the allotment of 1.75 crore equity shares of the face value of Rs 10 each in the share capital of TTPL. The company and Tsubamex hold 75% and 25% respectively in TTPL's equity share capital. The investment of Rs. 17.50 crore in TTPL by the company was approved by the company's shareholders, through the Special Resolution passed on 16 January 2015.
Persistent Systems said its board will meet on 12 March 2015, to consider and approve allotment of shares consequent to the Bonus Issue approved by the Members of the Company at the Extra-ordinary General Meeting held on 26 February 2015.
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