Asian Paints, Centum Electronics and Infosys to see some action today

Asian Paints has entered into a binding term sheet for the setting up of a joint venture in Fujairah, United Arab Emirates (UAE), with Riddhi Siddhi Crusher & Land Transport (Riddhi Siddhi), Fujairah, UAE, Associated Soap Stone Distributing Company (ASD), India and others. The proposed joint venture would be set up with 60:40 partnership between the Company and the Parties and would carry out the business of manufacturing and exporting white cement and white cement clinker, on such terms as may be mutually decided by the Parties.

Centum Electronics has signed memorandum of understanding (MoU) with Indra Sistemas, S.A Spain, to exclusively collaborate in high-end futuristic Radar systems and technologies for the Government of India. The MoU envisages manufacturing and commissioning of the radar for space applications. Long-range radar is intended to detect, track and analyse objects and debris in space at a distance of thousands of kilometres.

Infosys has collaborated with CIRCOR International, one of the world’s leading providers of mission critical flow control products and services for the Industrial and Aerospace & Defense markets, to transform its IT infrastructure, service desk, and user support applications. As part of this strategic engagement, Infosys will work on transforming CIRCOR’s IT landscape and modernize its IT infrastructure.

Dilip Buildcon has received the letter of acceptance (LoA) from the Gujarat Metro Rail Corporation (GMRC) for project of ‘Construction of 7.553 kms elevated viaduct and 7 nos. of stations (incl. E&M, Architectural Finishing, Roofing, Plumbing, Signage, etc.) from Sector- 1 to Mahatma Mandir (ch. 31945.443m to 39498.302m, Package C3) in connection with Ahmedabad Metro Rail Project, Phase-2.’ The cost of project is Rs 723.45 crore and completion period is 24 months.

Vesuvius India’s board approved a proposal for the additional Capex of approximately Rs 36 crore (to be funded through internal accruals) for setting up a manufacturing plant at Vizag under the proposed wholly owned subsidiary which is being incorporated pursuant to the approval of the Board accorded on September 8, 2022. The Board of Directors of the Company at its meeting held on October 20, 2022, has approved the same.

Coforge has reported results for second quarter ended September 30, 2022. The company has reported fall of 7.36% in its net profit at Rs 117.00 crore for Q2FY23 as compared to Rs 126.30 crore for the corresponding quarter previous year. Total income of the company increased by 25.78% to Rs 1,113.70 crore for the quarter under review as compared to Rs 885.40 crore for the same quarter in the previous year. On the consolidated basis, the company has reported rise of 36.59% in its net profit at Rs 220.60 crore for the quarter under review as compared to Rs 161.50 crore for the same quarter in the previous year. Total income of the company increased by 25.10% to Rs 1,972.90 crore for the quarter under review as compared to Rs 1,577.10 crore for the same quarter in the previous year. 

Rail Vikas Nigam has received Letter of Acceptance (LoA) from Ahmedabad Municipal Corporation (AMC) for development of Kharicut Canal (Between Naroda Smashan Gruh & Vinzol Vehla) in AMC area Pakage 2: Kharicut Canal Development Navyug School Canal Crossing to Nidhipark Society (Ch. 2500 - Ch. 5000) of Rs 236.20 crore and for development of Kharicut Canal (Between Naroda Smashan Gruh & Vinzol Vehla) in AMC area Pakage 3 : Kharicut Canal Development Nidhipark Society to Odhav Fire Station (Ch. 5000 - Ch. 7600) of Rs 248.00 crore.