Rail Vikas Nigam, Apollo Micro Systems and Piramal Pharma to see some action today

15 Jul 2024 Evaluate

Rail Vikas Nigam has received Letter of Acceptance (LoA) from Central Railway for ‘OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Wardha-Ballarshah Section in Nagpur division of Central Railway to meet 3000 MT loading target.’ Broad consideration or size of the order is Rs 132.59 crore. The said order is expected to be completed in 24 months.

Apollo Micro Systems has been awarded Make II project by Directorate General of AAD, IHQ of MOD (Indian Army). This project is for the procurement of a Vehicle Mounted Counter Swarm Drone System (VMCSDS) (Version I) under the Make II category of DAP-2020. This project is very prestigious and first Make II project for the company. The systems developed out of it are ‘state of the art’ and highly futuristic in nature. As a Make II project, there will be no cost obligation involved.

United States Food and Drug Administration (USFDA) has conducted a Pre-Approval Inspection (PAI) of Piramal Pharma’s PPDS Ahmedabad facility from July 10, 2024 to July 12, 2024. The inspection was completed successfully with Zero Form - 483 observations and No Action Indicated (NAI) designation.

Tata Power-led power distribution companies (Discoms) have invested Rs 4,245 crore in infrastructure expansion and network upgrade in Odisha over the past 3-4 years. The company operates four Discoms in joint ventures with the government of Odisha - TP Central Odisha Distribution (TPCODL), TP Western Odisha Distribution (TPWODL), TP Southern Odisha Distribution (TPSODL), and TP Northern Odisha Distribution (TPNODL), collectively serving a customer base of over 9 million.

SIS has completed the secondary investment of Rs 2.17 crore in accordance with the Share Subscription Agreement signed with Agarsha Senior Care (Agarsha) on March 28, 2024. Consequently, the company has completed the acquisition of 1,96,962 equity shares from the existing shareholders as a secondary investment in Agarsha.

HCL Technologies has reported results for first quarter ended June 30, 2024 (Q1FY25). The company has reported 4.51% fall in its net profit at Rs 2,479 crore for the quarter ended June 30, 2024 as compared to Rs 2,596 crore for the same quarter in the previous year. However, total income of the company increased by 3.35% at Rs 12,105 crore for Q1FY25 as compared to Rs 11,713 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 20.62% rise in net profit at Rs 4,259 crore for Q1FY25 as compared to Rs 3,531 crore for the same quarter in the previous year. Total income of the company increased by 9.46% at Rs 29,160 crore for Q1FY25 as compared to Rs 26,640 crore for the corresponding quarter previous year.

EMS has received a letter of award (LoA) for Development of Distribution Infrastructure-loss reduction works at EDC Dehradun rural Circle of Uttarakhand under Revamped Reforms-based and Results-linked, Distribution Sector Scheme from Uttarakhand Power Corporation. The order value is approximately Rs 141.12 crore wherein EMS is having 95% share with the Other JV Partner.

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