L&T, Sun Pharma and RMC Switchgears to see some action today

Larsen & Toubro’s (L&T) wholly owned subsidiary – L&T Hydrocarbon Engineering has won an order from HPCL Rajasthan Refinery (HRRL), a joint venture between Hindustan Petroleum Corporation (HPCL) and Government of Rajasthan. The engineering, procurement, construction and commissioning (EPCC) contract is for setting up a Petrochemical Fluidized Catalytic Cracking (PFCC) including Propylene Recovery Unit, EPCC-03 Package (capacity: 2.9 MMTPA), for Rajasthan Refinery Project at Barmer, Rajasthan. The unit is licensed by TechnipFMC.

Sun Pharmaceutical Industries has initiated Phase 2 clinical trial for SCD-044 (a novel, orally bioavailable sphingosine-1-phosphate (S1P) receptor 1 agonist) in patients with moderate to severe plaque psoriasis. The Phase 2 study is a randomized, double-blind, placebo-controlled study to assess the efficacy and safety of SCD-044 in the treatment of moderate to severe plaque psoriasis.

RMC Switchgears has received extension purchase order against original order from Andhra Pradesh Eastern Power Distribution Company (APEPDCL) for providing of necessary infrastructure towards implementing ‘YSR Utchita Vyavasaya Vidyuth Padhakam’ (Direct Benefit Transfer (DBT) Scheme) in Srikakulam District. The Company believes in making contribution in electricity distribution in every possible way.

NHPC has signed a Supplementary Memorandum of Understanding (MoU) with Jammu and Kashmir State Power Development Corporation (JKSPDCL) and Power Development Department, Govt. of UT of Jammu & Kashmir on January 03, 2021 for implementation of Ratle HE Project (850 MW) in Union Territory of Jammu & Kashmir through a Joint Venture Company (JVC). In the supplementary MoU, the clause of MoU dated February 03, 201 9 regarding purchase of NHPCs equity by JKSPDCL from the end of the 5th year after date of commissioning over 15 years through equal installments have been deleted.

Force Motors has reported the production, sales and export of the products manufactured during the month of December 2020. The company’s production of Small Commercial Vehicles (SCV) & Light Commercial Vehicles (LCV) stood at 691 units and Utility Vehicles (UV), Sports Utility Vehicles (SUV) & Tractors stood at 567 units.

IIFL Securities’ wholly owned subsidiary---IIFL Insurance Brokers has received permission from Insurance Regulatory and Development Authority (IRDA) for undertaking insurance e-commerce activities (i.e. online sale and service of insurance policies) in lndia through Insurance Self Networking Platform (ISNP).

National Fertilizers (NFL) has achieved ever highest production of 9.99 lakh MT Urea in the third quarter during FY 2020-21. The company successfully maintained its operations during constraints posed by Covid-19.The plants at Nangal and Panipat achieved their ever best Urea production during Oct-Dec, 2020. The Nangal Plant while increasing production levels at Plant also achieved ever lowest quarterly energy of 6.602 GCal/MT Urea against previous best of 6.615 GCal/MT Urea.