Bharat Heavy Electricals (BHEL) has received a Letter of Intent (LoI) from Damodar Valley Corporation (DVC) for setting up the 2x800 MW Koderma Phase-II Thermal Power Station at Koderma district, Jharkhand on EPC basis. Broad consideration or size of the order is in excess of Rs 10,000 crore excluding taxes & duties. The said order is expected to be completed in 52 months.
KEC International’s board has approved raising of funds through one or more qualified institutions placement(s) and/or any other method as may be permitted under applicable laws or any combination thereof, for an aggregate amount of up to Rs 4,500 crore, by way of issue of equity shares and/or any other equity-based instruments (including fully or partly convertible debentures) and/or any combination thereof, in one or more tranches, subject to the approval of shareholders’ and/or other requisite regulatory/statutory approvals, as may be required in terms of applicable laws. The Board of Directors of the company at its meeting held on July 26, 2024, inter alia has approved the same.
SBC Exports has received additional Work Order worth approximately of Rs 11 crore for Engagement of Experienced Manpower Service Providers for providing manpower and related services in Ahmedabad, Bhopal and Nagpur Territories of RailTel Corporation of India, Western Region. After the receipt of an additional work order, the total purchase value of the orders from the Railtel Corporation stands for Rs 29.15 crore. The said order is expected to be executed in 1 year
Gandhar Oil Refinery (India) has received approval for incorporation of a wholly owned subsidiary company in India under the name and style ‘Gandhar Lifesciences’ with Rs 1 crore as paid up capital. The proposed subsidiary company shall carry on the business of manufacturing, marketing, distribution and sale of cosmetic products, pharmaceutical products, intermediates and other allied products. The Board of Directors of the Company in their meeting held on July 25, 2024 has approved the same.
NTPC has reported results for first quarter ended June 30, 2024 (Q1FY25). The company has reported 10.94% rise in net profit at Rs 4510.98 crore for Q1FY25 as compared to Rs 4066.04 crore for the same quarter in the previous year. Total income of the company increased by 13.54% at Rs 45053.04 crore for Q1FY25 as compared to Rs 39680.69 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 12.21% rise in its net profit at Rs 5506.07 crore for the quarter ended June 30, 2024 as compared to Rs 4907.13 crore for the same quarter in the previous year. Total income of the company increased by 12.89% at Rs 48981.68 crore for Q1FY25 as compared to Rs 43390.02 crore for the corresponding quarter previous year.
Godawari Power and Ispat has received ‘Permission to Establish’ from Chhattisgarh Environment Conservation Board for setting up 2 million ton Pellet plant for expansion of Iron Ore Pelletisation Capacity of the company from 2.7 to 4.7 MTPA with associated facilities for manufacture of Pellets like ore grinding, beneficiation, coal gasification etc. at Siltara Industrial Area, Raipur, Chhattisgarh. The pellet plant is proposed to be financed from internal accruals of the company and the same is expected to be commissioned by Q1FY26.
Karnataka Bank has entered into strategic partnership with ICICI Lombard General Insurance Company, a leading general insurance company in India. This collaboration aims to offer enhanced insurance solutions and customer benefits to its valued patrons.
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