BEML, ACC and IOC to see some action today

BEML Ltd. | Construction Vehicles | Capital Goods & Industrial Consumables | BSE: 500048 | NSE: BEML

06 Jan 2021 Evaluate

BEML has received prestigious orders from the Ministry of Defence (MoD) for supply of High Mobility vehicles, at an approximate value of Rs 758 crore. These High Mobility vehicles would play a key role in the logistics management of the Indian Army leveraging on its exceptional cross country capabilities. These vehicles would enable armoured fighting vehicles, troops, ammunitions and stores to be moved to far-flung, difficult terrains in operational areas.

ACC has successful commissioned its new Grinding Unit (GU) at Sindri in the State of Jharkhand effective January 2, 2021. The new facility will add an additional capacity of 1.4 MTPA cement to the existing 3.0 MTPA unit, taking the total capacity at Sindri to 4.4 MTPA. This facility will manufacture low CO2, environment friendly, cement products.

Indian Oil Corporation’s (IOC) jet fuel business has recovered by 60 per cent, while the domestic sector sales are likely to touch full capacity by March, this year. There was a drop in the jet fuel business following coronavirus-induced restrictions but from May 25, 2020 onwards, the aviation sector has re-started and has led to increased demand.

Shriram Transport Finance Company has raised Rs 250 crore by issuing bonds on private placement basis. The allotment committee of the company in its meeting held on January 05, 2021, has approved and allotted Rated, Listed, Senior, Secured, Redeemable, Non-Convertible Debentures on Private placement basis for an issue size of Rs 250 crore plus green shoe option of Rs 250 crore.

Sacheta Metals has secured sales order of around Rs 15 Million for supply of Aluminium utensils from Republic of Mozambique. This sales order is repeatable at every 3 months hopefully.

MSTC has signed a Memorandum of Understanding (MOU) with department of Mines and Geology, Government of Andhra Pradesh for selection of agency to carry out sand operations in the state of Andhra Pradesh on January 04, 2021.

Adani Ports & Special Economic Zone (APSEZ) has handled cargo volume of 27.2 MMT (includes cargo volume of 3.5 MMT of Krishnapatnam Port) in December 2020. The company acquired Krishnapatnam Port (KPCL) in October 2020. The growth excluding KPCL was 14% on month on month basis and 28% on year on year basis.