Tata Steel said after market hours on Friday, 18 September 2015, that the company, as part of its portfolio restructuring has on 18 September 2015, sold through off-market transaction 3.7 crore ordinary shares of the face value of Rs 2 each of Tata Motors to Tata Sons at a price of Rs 330 per share, aggregating to Rs 1249.99 crore.
Sun Pharmaceutical Industries and Strides Arcolab announced on Saturday, 19 September 2015, that they have entered into a definitive agreement related to erstwhile Ranbaxy's 'Solus' and 'Solus Care' divisions operating in the central nervous system (CNS) segment in India. The agreement involves transfer of these two marketing divisions, along with employees to Strides for a consideration of Rs 165 crore. As per IMS July 2015 MAT report, all the products of these two divisions together accounted for approximately Rs 92 crore in sales. During the divestment process, Sun Pharma was cognizant that the interests of its employees working in Solus and Solus Care divisions were not compromised. The transaction is subject to approval from the Competition Commission of India and other customary closing conditions. All other terms and conditions of the transaction are confidential.
Asian Paints announced after market hours on Friday, 18 September 2015, that the company is proposing to set up a paint manufacturing plant at Mysuru district, in the state of Karnataka. The ultimate capacity of 6 lakh kilo litres per annum (KL p.a.) would be achieved in a phased manner at an approximate cost of Rs 2300 crore at the current prices. This is subject to due diligence and necessary regulatory and other approvals. The above proposal for setting up the manufacturing facility in the state of Karnataka is towards fulfilling the long term capacity requirements of the company and is subject to the future demand conditions. The company will make necessary disclosures on any material developments in this regard.
TD Power Systems said after market hours on Friday, 18 September 2015, that the company has received an order from a large multinational company in Europe to supply multiple units of 10 megawatts (MW) generators to be installed in a single power plant inside Germany. The total installed capacity will be 200 MW.
The supply will start from July 2016 and completed by November 2016. This will be the biggest installation for the company inside Germany. With this contract the company affirms its position as a leading global generator manufacturer with its generators catering to power supply in some of the most competitive markets of the world. This large installation reference will open the doors to other European customers in the years to come.
Separately, TD Power Systems said that Mr. B. C. Harish, Chief Executive Officer (CEO) of the company's wholly-owned subsidiary - DF Power Systems (DFPS) has resigned and has been relieved from the services of the company with effect from the close of business hours on 15 September 2015.
Power Mech Projects said after market hours on Friday, 18 September 2015, that the company has received an letter of award (LOA) from Prayagraj Power Generation Company (PPGCL), Jaypee Group for an order worth approximately Rs 166.87 crore (including price escalation) towards Field Operation & Maintenance for BTG, BOP, CHP & AHP OF 1980 megawatts (MW) (3X660MW) at Prayagaraj Thermal Power Plant at Bara, Allahabad, Uttar Pradesh. The order is spread over 5 years.
National Buildings Construction Corporation said after market hours on Friday, 18 September 2015, that Ministry of Textiles, Government of India has entrusted the project of construction of trade facilitation centre and crafts museum at Varanasi (Uttar Pradesh) to NBCC for an estimated amount of Rs 197 crore approximately.
Equity shares of Prabhat Dairy will be listed on the bourses today, 21 September 2015. The company had fixed issue price of the initial public offer (IPO) at Rs 115 per share. Promoted by Sarangdhar Ramchandra Nirmal, Vivek Sarangdhar Nirmal and Nirmal Family Trust, Prabhat Dairy is an integrated milk and dairy products company in India, catering to institutional as well as retail customers. The company produces and sells a range of pasteurized milk and other dairy products to retail customers under the Prabhat, Flava and Milk Magic brands.
Everest Kanto Cylinder said after market hours on Friday, 18 September 2015, that some of the workmen at Gandhidham plant of the company situated at Survey no. 141/1/2 and 142/1, National Highway 8-A (East), Varsana, Gopalpuri, Taluka - Adipur, Gandhidham, Gujarat, are on an illegal strike from 14 September 2015 for the issue of wage revision. Discussions with Assistant Labour Commissioner are in process to resolve the situation at the earliest.
MSP Steel & Power said on Saturday, 19 September 2015, that a meeting of the board of directors of the company will be held on 28 September 2015, inter alia, to take on record allotment of 6% Non-cumulative, Non-convertible Redeemable Preference Shares on preferential basis subject to the approval of members at the Annual General Meeting to be held on 21 September 2015.
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