Elantas Beck may build on land deal for greenfield unit
Elantas Beck India on Thursday informed the exchanges that it has signed a Memorandum of Understanding with Talegaon Industrial Parks Pvt Ltd for acquisition of land at Navlakhumbre, Tal. Maval, Pune, Maharashtra. The deal is for setting up a new greenfield manufacturing facility, which will provide additional capacity to cater to the market demand.
The company has advanced a sum of Rs 5.27 crore, amounting to 10 per cent of the total consideration. The company will enter into a sale deed after securing all applicable clearances and certifications, it further said.
The company, which is into wire enamels, impregnating materials, casting & potting, flexible electrical insulation and electronic protection materials, had reported a profit of Rs 4.75 crore for the quarter ended June 2020 and revenues of Rs 46.21 crore.
Shareholders will closely monitor the execution of deeds and erection of the new plant.
Tiger Logistics has said that it has been awarded tenders by Central Electronics Ltd, State Trading Corporation of India Limited (STC) and Gujarat Narmada Valley Fertilizers Chemicals Ltd.
The company has successfully developed the government sector vertical, which will yield good results in the coming quarters, it said in a notice to the stock exchanges. "As the market opens up, we feel we will emerge much stronger in the logistics industry," it added.
The company, however, did not give the order sizes either cumulatively or individually.
Tiger Logistics hopes to steer the business to the next level and its clients, agents, associates and bankers’ base are intact and supportive.
Green signal from GPCB may lift Arrow Greentech
Arrow Greentech will remain in focus as the company has resumed production at its Ankleshwar plant after the Gujarat Pollution Control Board issued a revocation order.
Earlier, in February, the GPCB had issued orders to stop the operation of one of the manufacturing units of Arrow Greentech.
The company had posted a profit of Rs 70 lakh on revenues of Rs 6.84 crore.
Arrow Greentech is into packaging material and its technology segment. Its water-soluble film, Watersol, has various applications in industries ranging from agrochemicals, construction, chemical, embroidery, health and hygiene to water transfer printing (three dimensional (3D) printing).
Order win may lift Sterling & Wilson Solar
Sterling and Wilson Solar Ltd has signed an order of 106.71 MW worth $62.6 million (Rs 462 crore) in Chile. The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY-2021.
Sterling and Wilson Solar Ltd, one of the leading solar EPC and O&M players in the world, has a strong presence in the region with one project of 93.3 MW in Argentina and three projects of 588 MW under construction in Chile.
According to the company, this is the fifth project in Latin America. "We have established ourselves in Latin America with a cumulative order book of around $488 million (Rs 3,558 crore), making us amongst the leading players in the region," said Bikesh Ogra – Director and Global CEO, Sterling and Wilson Solar Ltd.
Shareholders will closely monitor the execution of the projects.
Kilpest-3B Blackbio Biotech merger in focus
The board of Kilpest India on Thursday approved the merger of 3B Blackbio Biotech India Ltd with itself. The decision is, however, subject to shareholders and other regulatory approvals.
Shareholders of 3B Blackbio will get 8.33 shares of Kilpest for each share in the company.
3B Blackbio is engaged in the design, development, manufacturing and commercialisation of PCR-based molecular diagnostic kits, PCR enzymes and PCR reagents.
Kilpest intends to integrate the operations of 3B Blackbo with itself as part of the restructuring process, by taking over the manufacturing unit along with its business know-how, market reach, all the tangible and intangible assets.
3b Blackbio Biotech India Ltd is a related party to Kilpest India.
Shareholders will closely follow further developments on this front.