KEC International, Ashoka Buildcon and NIBE to see some action today

26 Aug 2024 Evaluate

KEC International has won new orders worth Rs 1,079 crore in the Transmission & Distribution and Cables businesses, including projects in India, Saudi Arabia, Oman, UAE, and the Americas.

Ashoka Buildcon has emerged as the Lowest Bidder (L-1) for the project of Design and Construction of Elevated Road from KalyanMurbad Road (Palms Water Resort) to Badlapur Road (Jagdish Dughdhalaya) to Pune Link Road parallel to Waldhuni River Crossing Over Karjat- Kasara Railway Line Including Slip Road by Mumbai Metropolitan Region Development Authority (MMRDA). Quoted Bid Price of the said project is Rs 478 crore plus applicable GST.

NIBE’s subsidiary--Nibe Space has entered into a consortium with a leading Indian Company with aim to participate for projects related for establishing India’s sovereign Earth observation satellite constellation. This collaboration is for general understanding and both parties may enter into further agreements/contracts with regard to specific projects.

Titan Intech has signed Memorandum of Understanding (MoU) with Obel Systems, as project implementation and financial assistance partner for the project awarded by the state of Uttar Pradesh on August 23 2024 for installation of 27939 Automatic Rain Gauges(ARG) and Automatic Weather Stations (AWS) in 27838 gram panchayat locations in 36 districts of Uttar Pradesh which provides key inputs for forewarning and mitigation of climatic risks and catastrophic events and protect agriculture risks, a Government of India Initiative. The total cost of the project is about Rs 360 crore. Estimated time for completion of the Project is 5 years.

Shyam Metalics and Energy’s material wholly-owned subsidiary--Shyam Sel and Power (SSPL) has purchased entire stake of 10,000 Equity Shares in one of the promoter group company namely SMEL Steel Structural which were held by the Mr Sheetij Agarwal (5000 shares) and Mr Shubham Agarwal (5000 shares) at a net consideration of Rs 1 lakh in aggregate pursuant to Sale and Purchase Agreement executed in this respect on August 23, 2024 between SSPL and Mr Sheetij Agarwal and Mr Shubham Agarwal, Promoter Group Individuals of the company.

Transindia Real Estate has acquired 100% equity shares of Transindia Freight Services (TFSPL), Promoter Group Company from Shashi Kiran Shetty and Arathi Shetty Promoters, a related party of the company. TFSPL has now become Wholly Owned subsidiary of the company.

Symphony’s Wholly Owned Subsidiary -- Guangdong Symphony Keruilai Air Cooling Co., China, has incorporated a step-down Wholly Owned Subsidiary (WOS) in China by the name of ‘Dongguan GSK Appliances Co.’. The said step-down WOS company was incorporated on August 23, 2024, with the purpose of selling to international customers various products that are manufactured by third parties such as aircoolers, airconditioners, fans, panel heaters, column heaters, strip heaters, fireplaces, components of various products, parts, etc.

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