KEC International, Goldstone Technologies and Canara Bank to see some action today

KEC International has secured new orders of Rs 1147 crore across its various businesses. Transmission & Distribution (T&D) business has secured orders for T&D and Cabling projects in Americas and Middle East. Railways business has secured orders in the technologically enabled/ conventional segments in India. Civil business has secured orders in the residential, hydrocarbon and data centre segments in India and Cable business has secured orders for various types of cables in India and overseas.

The Board of Directors of Goldstone Technologies at their meeting held on May 16, 2022, have, approved the proposal to acquire substantial stake ranging from 51% to 100% in the equity share capital of Equitas Technologies (ETPL). Consequent to the acquisition of up to 100% Equity stake by the company, Equitas Technologies will become Subsidiary Company of Goldstone Technologies. Presently, Equitas Holdings (EHL) holds 2,50,00,000 (99.62%) equity shares of ETPL. Equitas Holdings is the promoter company of Equitas Small Finance Bank.

Canara Bank is expecting an 8-10 per cent growth in advances as well as a healthy double-digit rise in corporate loan portfolio in the current financial year. In the fiscal ended on March 31, 2022, the lender's gross advances grew by 9.77 per cent.

SJVN has inked MoU for development of 490 MW Arun-4 project in Nepal. The project will be developed in JV mode by the company and Nepal Electricity Authority (NEA) with the company having majority share and is expected to generate around 2100 million units of energy per annum. The expected cost of this project situated in Sankhuwasabha District Province - 1 of Nepal is Rs 4900 crore.

Bharat Electronics (BEL) is all set to manufacture Li-ion battery packs for the electric trucks of US-based Triton, as part of an MoU signed between the two companies. The agreement was inked to explore manufacturing of battery cells in India for energy storage systems and electric vehicles in the heavy vehicle segment for the requirements of customers in USA, India and other countries.

Housing Development Finance Corporation (HDFC)-backed proptech firm Reloy is targeting a three-fold jump in its revenue to Rs 13 crore in FY23, helped by expansion to new cities and the addition of more real estate clients. The company has been working closely with top builders to create the perfect home-owning journey through their customer loyalty programmes.

NHPC has awarded an order of 300 MW Solar project worth Rs 1,731 crore, inclusive of tax to Tata Power Company’s wholly owned subsidiary--Tata Power Solar Systems. The project site, located in Rajasthan, will be developed under the CPSU scheme of IREDA. The project will be completed within 18 months’ time period, aims to reduce around 6,36,960 carbon emissions, and is expected to generate approximately 750 million units annually. Cells and modules made in India would be used in the project installation.