NLC India, PSP Projects and Bharat Electronics to see some action today

NLC India has successfully completed 72 hours of continuous trial operation of 500 MW of Second Unit (Unit 2) of 2 x 500 MW pit head lignite fired Neyveli New Thermal Power Project (NNTPP) at its rated capacity on February 3, 2021. The 500 MW Capacity Lignite fired Boilers of NNTPP are first of its kind in India. The First Unit (Unit 1) was already commissioned and with this, the Power Plant will be fully commissioned.

PSP Projects has received an additional work order worth Rs 236 crore (induding GST) for an Institutional project at Gujarat. Further, the company has been ranked the L1 bidder (Lowest Bidder) by a regulatory authority for projects totalling to Rs 420.89 crore (including GST) for construction of medical colleges at multiple locations at Uttar Pradesh.

Bharat Electronics (BEL) has entered into an Offset Contract under invest in kind with Joint Stock Company Rosoboronexport, Russia, for setting up industrial facilities for the manufacture of a wide range of aviation hoses at BEL Optronic Devices, Pune, a subsidiary of BEL.  Setting up of industrial facilities under the contract for manufacture of aviation hoses is fully consistent with the Government of India's XMake in India' programme.

TVS Motor Company has launched its electric scooter TVS iQube Electric in the capital priced at Rs 1,08,012 (post FAME II and Delhi state subsidy). TVS iQube Electric is equipped with 4.4 kW electric motor and has a maximum speed of 78 kmph and traverses 75 kms in single full charge. It can accelerate from 0 to 40 kmph in 4.2 seconds.

Sahyadri Industries has received approval for expansion of plant situated at Perundurai, Tamil Nadu to increase the capacity of Asbestos Flat Sheet and Non-Asbestos Flat Sheets manufacturing 72000 MT Per Annum. Expected Cost of expansion is Rs 80 crore which would be funded by Debt and Internal accruals. Commencement of commercial production is expected to start in the 4th Quarter of 2021-2022.

Hindustan Aeronautics (HAL) and MIDHANI have signed a Memorandum of Understanding (MoU) at the ongoing Aero India 2021 for development and production of composite raw materials. This is the first time that such an MoU has been signed for composite raw materials. Composites raw materials, mainly in the form of Prepregs used in platforms like LCA, ALH, LCH and LUH are currently imported.

Prataap Snacks’ board has approved acquisition of further 10.48% of paid-up equity share capital of Avadh Snacks (Avadh), the subsidiary, for an aggregate value of Rs 3,300.01 lakh. The aforesaid acquisition is in line with the terms of Share subscription and shareholders agreement and Share purchase agreement executed on August 22, 2018 for initial acquisition of 80% equity share capital of Avadh. At present, the company hold 80% of paid-up equity share capital of Avadh. Post aforesaid acquisition, the holding of the Company in Avadh will increase to 90.48% of paid-up equity share capital.