Indian Hotels, G R Infraprojects and Central Bank of India to see some action today

Indian Hotels Company (IHCL) has joined forces with Ambuja Foundation (ACF) and AU Foundation to establish the skill centre at Jai Mahal Palace, Jaipur. The Skill Centre has currently undertaken entry -level training for two batches in Food & Beverage Service and Front Office. By 2024, the facility is expected to train at least 350 trainees to be job-ready and assist them in acquiring employment within IHCL and in the hospitality industry.

G R Infraprojects has received completion certificate for the project of Construction of Eight Lane access-controlled Expressway carriageway from Jodmi village to Bani village of Mandsaur district [Ch. 484+420 to 517+420; design Ch. 32+000 to Ch. 65+000] section of Delhi - Vadodara Greenfield Alignment (NH-148N) on EPC Mode under Bharatmala Pariyojana in the State of Madhya Pradesh.

Central Bank of India has received an approval to raise capital through issuance of Non-convertible redeemable unsecured Base Ill compliant Tier 11 Bonds for amount upto Rs 1500 crore with a base size of Rs 500 crore and a green shoe option upto Rs 1000 crore during the FY 2022-23 subject to market conditions and necessary approvals. The Board of Directors of the Bank at its meeting held on December 26, 2022 has considered and approved the same.

NTPC has inked a non-binding Memorandum of Understanding (MoU) with Tecnimont, Indian Subsidiary of Maire Tecnimont Group, Italy. The objective of the MOU is to jointly evaluate and explore the possibility to develop commercial scale Green Methanol Production facility at a NTPC project in India.

Oricon Enterprises has received an approval for acquisition of equity shares of United Shippers (USL), a material subsidiary, by purchase of 69,896 Equity Shares from its existing shareholder(s) which would result in increase in company's holding in United Shippers from 35,16,849 Equity Shares i.e. 98.05% to 35,86,745 i.e. 100% and USL will become wholly-owned subsidiary. The Board of Directors of the Company at their Meeting held on Monday, December 26, 2022 has considered and approved the same.

Grindwell Norton (GNO) has commissioned its Paper Maker manufacturing plant in Bengaluru to manufacture paper based abrasive products. Under Atmanirbhar Bharat, the Paper Maker plant’s manufacturing capabilities presents a huge opportunity to introduce ‘Make in India’ products that are innovative and have cutting edge technology. This plant will cater to emerging high growth needs in construction, furniture and automotive industries. The plant will enable the Company to provide solutions for high growth market in India, Middle East and ASEAN.

Godrej Properties has entered into a joint venture with Neelkamal Realtors Tower (NRTPL) for development of property situated at Cadastral Survey No. 1906 of Byculla Division, E-Ward. The project is being developed by the Company through a Special Purpose Vehicle, viz, Godrej Residency (GRPL), wherein the Company will hold 50.01% and the balance 49.99% will be held by NRTPL.