Centum Electronics has received an order from Defense Research and Development Organisation (DRDO) for Intersatellite Link & other Payload Subsystems. The company has received an order worth Rs 109.58 crore (Excluding Taxes). The said order is to be executed in 16 months.
RITES has emerged as the lowest bidder (L-1) in the tender floated by Tanzania Railways Corporation for Supply, testing and commissioning of 4 Diesel Multiple units for MGR. The order is subject to award after the due process of scrutiny/ evaluation by the Tanzania Railways Corporation as per the requisite requirements mentioned in the tender documents. The estimated value of the bid is $2,67,40,000 plus VAT. The said order is expected to be completed by 547 days from the date of issuance of Letter of Award.
Adani Ports and Special Economic Zone (APSEZ) has entered into a definitive agreement to acquire 80% stake in Astro Offshore group (Astro), in an all-cash deal for $185 million, implying an EV of $235 million and EV / FY25E EBITDA at 4.4x. The transaction is expected to be value accretive from the first year itself.
RailTel Corporation of India has secured ‘Navratna Status’ from Department of Public Enterprises, Ministry of Finance, Government of India. Navratna companies in India can invest up to Rs 1,000 crore or 15% of their net worth in a single project without needing government approval. These companies have the liberty to invest up to 30% of their net worth within a year as long as it stays below Rs 1,000 crore.
Emami has entered into a Binding Agreement with Helios Lifestyle (‘Helios’) which is well known for its premium men’s grooming brand ‘The Man Company’ to acquire 100% ownership by acquiring the balance 49.60% stake. Helios is already a subsidiary of Emami, where Emami currently holds 50.40% stake.
Indian Hume Pipe Company has received Letter of Intent (LoI) with order value of Rs 858.88 crore (excluding Royalty, Insurance, GST, Land acquisition and crop compensation) from Tapi Irrigation Development Corporation Jalgaon (Dhule Irrigation Project Circle), Maharashtra for execution of work on Engineering, Procurement and Construction (EPC), Trial, Testing, Commissioning of Gravity Piped Distribution Network to irrigate 26907 Ha. Command area of Jamphal Dam under Sulwade Jamphal Kanoli Lift Irrigation project Taluka Shindkheda, District Dhule including Operation and Maintenance of entire system for five years. The said order is expected to be executed in 24 months.
Krishna Institute of Medical Sciences has acquired a 100 per cent equity stake in Chalasani Hospitals, Visakhapatnam, for Rs 28 crore. Chalasani Hospitals is a 200-bed hospital established in 1995.
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