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REC in focus after transferring 100% equity of Vemagiri II project to Power Grid

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Rural Electrification Corporation (REC) announced that 100% equity shares of Vemagiri II Transmission (V(II)TL) incorporated for strengthening of Transmission System beyond Vemagiri, held by REC Transmission Projects Company (a wholly-owned subsidiary of REC) and its nominees, have been transferred along with all assets and liabilities of (V(II)TL) to Power Grid Corporation of India and their nominees, on 4 December 2015. The announcement was made after market hours on Friday, 4 December 2015.

Maruti Suzuki India reported 11.80% fall in its production to 1.03 lakh units in November 2015 as compared to 1.17 lakh units in November 2014. The announcement was made after market hours on Friday, 4 December 2015.

 

Lanco Infratech (LITL) announced commencement of power supply to Haryana Discoms from its domestic coal based 300 MW Unit # 2 of Lanco Amarkantak Power Limited (LAPL), Chhattisgarh. With the commencement of power supply to Haryana Discoms at regulated tariff from this pithead plant, the entire 1800 megawatts operating coal based power portfolio of Lanco is now utilised to its full capacity with fuel pass through. The announcement was made before trading hours today, 7 December 2015.

NMDC announced after market hours on Friday, 4 December 2015, that it reduced prices of lump ore by Rs 300 per tonne to Rs 1,800 per tonne with effect from 4 December 2015. In its monthly price review, the state-run iron ore miner has kept prices of iron ore fines unchanged at Rs 1,560 per tonne. The prices are excluding royalty, taxes, DMF, duties, levies etc.

JK Tyre & Industries after market hours on Friday, 4 December 2015 said that owing to unprecedented rains in Tamilnadu, operations at company's plant located at Sriperumbadur, Tamilnadu have been disrupted for 8 shifts. Total loss of production was of the order of about 700 tonnes, JK Tyre & Industries said. The production and dispatch are getting normalised effective on 4 December 2015, the company said. There is no damage to the plant and machinery. However, partial damage has been caused to compound wall, internal roads and fencing. The damages caused by natural calamity are adequately covered under the insurance policy of the company. The company's plants located in other parts of the country are operating normally, it added.

Sagar Cements said that the Government of Andhra Pradesh has since granted to the company's wholly-owned subsidiary company viz., BMM Cements, a mining lease for limestone over an extent of 1,123.32 acres of land nearer to its plant located at Gudipadu Village, in Ananthapur District, Andhra Pradesh for a period of 20 years, which would enable the company to source its limestone requirements there from after execution of a formal lease deed with the appropriate authorities in due course. The announcement was made after market hours on Friday, 4 December 2015.

Artson Engineering said that the company has received a purchase order for fabrication and supply of steel structures for a steel plant. The estimated order value is Rs 10.77 crore. The announcement was made after market hours on Friday, 4 December 2015.

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First Published: Dec 07 2015 | 8:52 AM IST

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