Engineers India (EIL) announced that Hindustan Petroleum Corporation (HPCL) has entrusted the project for execution of Vizag Refinery Modernization Project (VRMP) to the company. EIL shall execute this project contract under two separate contracts, namely PMC Services for major process units and packages under U&O and execution of U&O and PRU revamp on open book estimate (OBE) Basis. The total awarded order value is more than Rs 2500 crore with a total project schedule of 43 months for Mechanical Completion. The announcement was made after market hours yesterday, 9 January 2017.
Adani Ports and Special Economic Zone (APSEZ) said that pursuant to the powers delegated to the Finance Committee by the board of directors of the company, the Finance Committee has reviewed and approved the preliminary offering circular in relation to the proposed issuance of foreign currency denominated bonds (notes) in US dollars by the company. The issuance of notes offering may follow, subject to market conditions.
The pricing, tenure and other terms of the bonds to be issued will be determined later. APSEZ is rated Baa3 (Negative) by Moody's, BBB- (Stable) by S&P and BBB-(Negative) by Fitch and expects the same ratings for its notes. The announcement was made before market hours today, 10 January 2017.
Ajanta Pharma announced the receipt of final approval for Duloxetine Hydrochloride Delayed Release Capsules from US FDA. It is a bioequivalent generic version of Cymbalta1 Delayed Release Capsules. The company will be launching the product shortly in 3 strengths, 20 mg, 30 mg and 60 mg strengths capsules. The announcement was made after market hours yesterday, 9 January 2017.
Duloxetine Hydrochloride Delayed Release Capsules is part of an ever growing portfolio of products that Ajanta has developed for the US market. In total, Ajanta has 32 Abbreviated New Drug Application (ANDA) of which it has 17 final ANDA approvals, 2 tentative approvals and 13 ANDAs under review with US FDA.
Shares of Max Ventures and Industries (MaxVIL) will be in focus after the company's board made a preferential offer, to issue common stock to a subsidiary of New York Life Insurance Company. New York Life is the largest mutual life insurance company in the United States and one of the largest life insurers in the world, with more than $500 billion under management. The announcement was made after market hours yesterday, 9 January 2017.
Subject to MaxVIL shareholder approval, a subsidiary of New York Life Insurance Company will acquire a 22.51% equity stake in MaxVIL at an offer price of Rs 78 per share aggregating to Rs 121 crore on a diluted basis and will be entitled to one nominee director to the Board of MaxVIL. The board of MaxVIL also proposed an allotment of share warrants to the promoter group equivalent to 4.76% of the post-issue share capital of the company on a fully diluted basis assuming full conversion of the warrants. These share warrants will be issued at Rs 78 per warrant aggregating to Rs 26.9 crore and will be convertible into equivalent equity shares within 18 months, taking the shareholding of the promoter group in MaxVIL to around 38.02% on fully diluted basis.
Shares of IndusInd Bank will be watched as the bank is scheduled to announce Q3 December 2016 earnings today, 10 January 2017.
Voltamp Transformers said that working at the company's Savli factory situated at Vadadala, Vadodara, Gujarat has resumed from 7 January 2017 and the production activities at the company's Savli factory are normal at present. The announcement was made after market hours yesterday, 9 January 2017.
Future Consumer said that a meeting of the board of directors of the company is scheduled to be held on 12 January 2017, to consider and approve issue of non-convertible debentures on private placement basis or otherwise. The announcement was made after market hours yesterday, 9 January 2017.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
