Konkan LNG Ltd, which had earlier declared that SEPC Ltd had emerged as L1 in the Konkan LNG Ltd tender for supply and service of Ambient Air Heating Systems, has now decided to cancel the tender.

Gujarat Urja Vikas Nigam Ltd has issued a Letter of Intent to Gujarat Industries Power Company for 600 MW capacity solar photovoltaic power projects at Khavda. Following this, GIPCL would sign a PPA with GUVNL, subject to the adoption of GERC’s tariff . The estimated financial implication for the solar project would be Rs 3,600 crore.

Tanfac Industries Ltd has received the Tamil Nadu Pollution Control Board’s consent for the proposed capacity expansion of the Hydrofluoric Acid Plant at Cuddalore by 14,850 MT at an estimated cost of Rs 100 crore. This will help the company complete the proposed expansion plan within the scheduled implementation timeline of 15 to 18 months.

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The board of Goldiam International Ltd has approved the proposed buyback of up to 21,79,493 fully paid-up equity shares for an aggregate amount not exceeding Rs 32.69 crore, at Rs 150 a share. The buyback size is 2 per cent of the total paid-up equity share capital and 12.47 per cent and 5.78 per of the total paid-up equity share capital and free reserves of the company, based on the audited standalone financial statements and consolidated financial statements respectively of the company as on March 31. The buyback is proposed to be made from the existing shareholders as on the record date on a proportionate basis under the tender offer route.

Delhivery Ltd will make a strategic investment in Vinculum, a global software leader enabling omnichannel retailing for D2C enterprises, brands, brand distributors, and quick commerce companies. The investment is the first part of a potential 2-stage deal that provides Delhivery the option to further increase its shareholding in the company after six months. Vinculum is one of the early software companies from India, enabling brands to tap into the opportunity presented by eCommerce and Omni Channel. With the post-Covid industry and consumer shift, the company has scaled up into a leading SaaS Omni Channel software company, working with over 400 brands across grocery & FMCG, healthcare, beauty, cosmetics, fashion, and jewellery in India, South-East Asia, and West Asia.

The United States Food and Drug Administration (US FDA) inspected Aurobindo Pharma Ltd’s Unit XIV, an API non-antibiotic manufacturing facility situated at Paravada Industrial Area, Anakapalli district, Andhra Pradesh, from May 15 to 19. “Following the inspection, we have been issued a ‘Form 483’ with four observations. The observations are procedural in nature. We will respond to the US FDA within the stipulated timelines and work closely with it to close the observations at the earliest,” the company said.

The National Company Law Tribunal’s (NCLT) approval of the demerger of Vakrangee’s E-Governance & IT Solutions Business, paves the way for the creation of two separate listed entities, namely, Vakrangee Ltd and VL EGovernance & IT Solutions Ltd. Vakrangee Ltd is a listed entity and VL EGovernance & IT Solutions Ltd is to be listed as a separate entity.

The board of Siemens Ltd has approved the sale and transfer of low-voltage motors and geared motors businesses, including related customer service business (“the Business”) to Siemens Large Drives India Private Ltd, an entity wholly-owned by Siemens AG, for a consideration of Rs 2,200 crore with effect from October 1, 2023. Siemens has also signed an agreement to acquire the EV division of Mumbai-based Mass-Tech Controls Private Ltd. The purchase consideration is Rs 38 crore on a cash-free and debt-free basis, subject to other mutually agreed adjustments between the parties. The closure of the acquisition is subject to fulfilment of conditions agreed between them and receipt of regulatory, statutory and other approvals. Post the acquisition, the EV division of Mass-Tech Controls will be fully integrated into the e-Mobility Business Unit of Smart Infrastructure Business, Siemens Ltd.

Suzlon Group has announced a new order win for the development of a 25.2 MW wind power project for Sri Kumaraswamy Mineral Exports Pvt. Ltd. Suzlon will install 12 wind turbine generators (WTGs) with a Hybrid Lattice Tubular tower at Hanumanthappa in Vijayanagara district in Karnataka, which is expected to be commissioned in 2024.

The board of Abbott India Ltd has recommended payment of final dividend of Rs 180 and special dividend of Rs 145 per equity share of Rs 10 each for the year ended March 31, 2023, subject to approval of the shareholders. The company has fixed July 21 as the record date for the purpose.

Titan Company has purchased commercial space spread across three floors in a ready project in Borivali suburb of Mumbai for Rs 100 crore. The Tata Group company operates a store of its jewellery brand Tanishq from this premises. 

Granules India Ltd has received the US Food & Drug Administration’s (US FDA) approval for its Abbreviated New Drug Application (ANDA) for Venlafaxine Hydrochloride Extended-Release Capsules USP, 37.5 mg, 75 mg, and 150 mg, the company announced through an exchange filing. It is bioequivalent to the reference listed drug product (RLD), Effexor XR Extended-Release Capsules of Upjohn US 2 LLC.

The Sajjan Jindal-led JSW Steel has received the NCLT’s nod to acquire National Steel & Agro Industries for ₹425 crore. JM Asset Reconstruction was the company’s sole lender. The resolution professional has admitted claims of ₹2,023 crore, of which JM ARC was the sole secured lender with a claim of ₹1,686 crore. ARC acquired National Steel and Agro’s loans from 70 per cent of the lenders by value in April 2021 in an uncontested Swiss auction. Subsequently, it acquired the balance loans in phases.

Transworld Holdings Ltd through NovaaOne Capital Pvt. Ltd. acting as the manager to the offer, has announced that it will voluntarily delist the equity shares of its Indian subsidiary, Shreyas Shipping & Logistics Ltd, in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, from NSE and BSE, on which SSL’s equity shares are listed.

Results Calendar: Acrow India, Aditya Birla Fashion and Retail, Bharat Petroleum Corporation, Bhudevi Infra Projects, CESC, Camlin Fine Sciences, Capri Global Capital, CG Vak Software, Deccan Bearings, Dhanlaxmi Bank, EIH, Finolex Industries, Fusion Micro Finance, Gujarat Alkalies & Chemicals, Gujarat State Finance, HCL Infosystems, HEG, Indiabulls Housing Finance, Jindal Photo, Lotus Chocolates, NACL Industries, PB Fintech, (Policybazaar), Radiant Cash Management Services, Ramco Industries, Ravalgan Sugar, SJVN, Shree Cement, Sun Pharma Advanced Research Company, Thangamayil, and Waaree Technologies 

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