Gujarat Gas has been granted 300 months of infrastructure exclusivity- up to June 26, 2041, and 60 months of marketing exclusivity valid up to June 26, 2021, for the city gas distribution (CGD) network. Further, the authorised area for laying, building, operating or expanding the proposed CGD network shall cover a geographical area of 3,636 sq km. In its grant of authorisation, the PNGRB has asked Gujarat Gas to start work on the project within 270 days. Shares of Gujarat Gas traded up 0.87 per cent at ₹557.65 on the NSE.
Firstsource Solutions’ subsidiary, Firstsource Group USA Inc, has made the fifth quarterly repayment of $11.25 million to lenders on its outstanding debt, the company said in an exchange filing. Firstsource Group USA had agreed to pay $45 million annually, by repaying $11.25 million each quarter, to ease the company’s long-term debt burden. Shares of Firstsource Solutions gained 2.3 per cent at ₹46.40 on the NSE.
Sakthi Sugars has repaid $11.7 million in foreign currency convertible bonds (Series B). The company has paid the last due of 40 per cent to the consenting bondholders, according to the directive of the Madras High Court. The company had settled the first tranche of 60 per cent in March, following which the High Court granted it time till June to settle the balance. Shares of Sakthi Sugars closed 0.42 per cent higher at ₹47.3 on the BSE.