NOCIL, Coal India and Tech Mahindra to see some action today

NOCIL has received approval for incurring Capital Expenditure not exceeding Rs 250 crore towards capacity enhancement (Rubber chemicals) at Dahej. The Board of Directors of the Company its meeting held on March 26, 2024 has accorded approval for the same. 

Coal India’s subsidiary -- Mahanadi Coalfields (MCL) has achieved the 200-million tonne (MT) coal production mark in the 2023-24 fiscal. MCL has mining operations in Odisha's Angul, Jharsuguda and Sundergarh districts. MCL had attained the 100-MT mark in 2009-10, while 150-MT output was achieved in 2021-22. 

Tech Mahindra is planning to merge its two wholly-owned subsidiaries, Born Group and Tech Mahindra (Americas), to synergise business operations, optimise operational cost, and reduce compliance risks. The merger is subject to regulatory approvals in the country of incorporation. The appointed date of the plan of merger is April 1, 2024.

Praveg has launched the Safari Velavadar Resort in Gujarat, marking a new chapter in luxury hospitality. The resort is poised to achieve an impressive occupancy in the forthcoming six months, reflecting the high demand for sustainable luxury accommodations. The average room rate should be in the range of Rs 20,000 to Rs 22,000. Praveg’s expansion represents a strategic milestone for the company, with promising prospects for revenue growth, profitability, and shareholder value creation. Situated in Gujarat's vibrant heart, Velavadar captivates with its stunning ecosystem and scenic beauty. 

Prataap Snacks has commenced commercial production at its newly set up Unit situated at Kartholi Teh. Bari Brahmana, Samba, Jammu & Kashmir on March 26, 2024. The said Unit has been set up for the production of extruded namkeen snacks, fried namkeen pellets and other namkeen snacks including popcorn with a total capacity of about 10,000 MT per annum. 

SecMark Consultancy has entered into Software Purchase agreement for purchase of software applications including intellectual property rights along with all right, title and interest therein with Comtek Software Systems LLP (Comtek) on March 26, 2024.  The company has further entered into consultancy agreement for services with respect to further developing, maintaining and enhancing the software applications purchased from Comtek, similar services for applications of SecMark, developing migration software, maintaining client relationship and related services through agreement dated March 26, 2024 (herein after referred as Consultancy Agreement).

Standard Chartered Bank, a public shareholder of CDSL is reportedly likely to sell its entire 7.18 per cent stake (75 lakh equity shares) for $151 million through a block deal.