Rail Vikas Nigam, Ambuja Cements and Equitas Small Finance Bank to see some action today

Timex Group India Ltd. | Watches & Accessories | Consumer Durables | BSE: 500414 | NSE: TIMEX

06 Jan 2023 Evaluate

Rail Vikas Nigam (RVNL) - ISC Projects JV has received Letter of Acceptance (LoA) from Gujarat Metro Rail Corporation (GMRC) for 'Design, supply , Installation, Testing and Commissioning of Ballastless Track from Sarthana to Dream city in Elevated and Underground Sections including Connecting Lines to Depot along with Ballasted/Ballastless/ Embedded Standard Gauge Track for Corridor-1, Surat Metro Rail Project, Phase-1'. The accepted contract amount is Rs 166.26 crore excluding GST and custom duties.

Ambuja Cements has incorporated a wholly owned subsidiary (WOS) company in the name of 'Ambuja Resources’ (ARL) on January 5, 2023. The said WOS has been incorporated for manufacturing of Cement & allied product, alternate fuel and power generation. ARL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad and is yet to commence its business operations.

Equitas Small Finance Bank has reported 27% growth in its gross advances on a provisional basis to Rs 24,923 crore for the quarter ended December 31, 2022 (Q3FY23) as compared to Rs 19,687 crore in the corresponding quarter of previous year. Total deposits grew by 31% to Rs 23,393 crore in Q3FY23 as compared to Rs 17,884 crore in the same quarter of previous year.

Sayaji Industries (SIL) has received a certificate from Sharjah Airport International Free Zone, United Arab Emirates for incorporating a subsidiary in the name of ‘Sayaji Industries (FZC)’ on January 05, 2023. The company has incorporated the subsidiary for its business expansion purpose. Sayaji Industries (FZC) Dubai, UAE is yet to commence its business. It will be engaged in the marketing of company products such as starch, dextrose etc.

Muthoot Capital Services has issued Commercial Paper (CP) of Rs 30 crore on January 4, 2023. Earlier, the company had completed a securitization transaction of Rs 82.87 crore on December 30, 2022.This is the sixth securitization / direct assignment transaction carried out by the company during the FY 2022-2023.

Larsen & Toubro’s (L&T) wholly owned subsidiary -- L&T Realty Developers has entered into an Agreement to sell its entire stake of 99% in Think Tower Developers, a subsidiary company (TTDPL), on January 5, 2023. TTDPL shall cease to be a subsidiary company, pursuant to the sale.

Timex Group has entered Web3, with a first-ever collection of ultra-rare one-of-one timepieces and corresponding digital twin NFTs, exclusively available to members of the Bored Ape and Mutant Ape community. Developed in partnership with long-term ape holders, each stunning, custom created digital collectible and hand assembled watch is based on the iconic Timex Waterbury Classic design to showcase the Ape or Mutant on full display.

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