Hindustan Aeronautics, Tata Power and MedPlus Health Services to see some action today

Hindustan Aeronautics (HAL) has inked a memorandum of understanding (MoU) with Argentina's Fabrica Argentina de Aviones (FAdeA) towards exploring the possibilities of collaboration in the field of maintenance, repair and overhaul (MRO). The agreement will also involve meeting any offset requirements in case of probable sale of HAL-made platforms in Latin American region. 

Tata Power is planning to invest about Rs 12,000 crore this financial year, which is double the Capex spent in FY23. Given the company’s successful track record in turning around Discoms, it will look to participate in privatisation opportunities as and when the policy reforms are undertaken. Tata Power is well transitioning to become the round the clock green energy solutions provider.

MedPlus Health Services is planning to sell over 500 off-patent therapeutic and chronic medicines under its own brand with a massive discount of 50-80 per cent. The company tied up with multiple reputed pharmaceutical manufacturing companies to produce high quality off-patent medicines that enables the firm to pass on the benefit to the consumer.

Pradeep Metals has been granted patent for invention entitled ‘Continuous Process for Baking of Cured Friction Material using Electromagnetic Energy’. The invented process completes the baking process in manufacturing of brake pads, drum linings and clutches, used in speed reduction applications, in a shorter duration using microwaves, resulting in saving of energy.

Shyam Metalics and Energy (SMEL) has commissioned production capacities at their manufacturing facility at Jamuria, West Bengal. The capacity of the captive power plant will increase by 90 MW, from 267 MW to 357 MW. The company sources around 75% of its power requirement from the captive plant. The incremental addition will lead to 80% of power sourcing internally, which leads to significant cost savings.

JM Financial’s material subsidiary -- JM Financial Products has transferred its remaining 3,062 Compulsory Convertible Securities (the Securities) of BigHaat Agro (the BigHaat) to JM Financial India Growth Fund III (a scheme of JM Financial India Growth Trust III, a SEBI registered Category II Alternative Investment Fund) on June 21, 2023. 

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