Hindalco Industries, Vakrangee and DCM Nouvelle to see some action today

Hindalco Industries has achieved a significant milestone with the allocation of the Meenakshi Coal Mine in Odisha through a vesting order by the Ministry of Coal. This development follows the successful signing of the Coal Mine Development and Production Agreement (CMDPA) on November 22, 2024, marking a pivotal step in the company’s journey towards resource securitisation, energy efficiency and sustainable growth.

Vakrangee has entered into a strategic corporate agency tie-up with Future Generali Insurance Company (Future Generali). This partnership aims to provide easy access to comprehensive general insurance products through Vakrangee Kendra network across the Country. This collaboration will enable Vakrangee Kendras, located across underserved and unserved areas, to offer a wide range of general insurance products, including health, motor, travel, home, and personal accident insurance. By leveraging this partnership, we aim to enhance accessibility and affordability of insurance solutions, empowering customers with financial security.

DCM Nouvelle has further invested an amount of Rs 32 crore by way of subscription to the additional 1,07,41,200 fully paid-up Equity Shares of face value Rs 10 each of DCM Nouvelle Specialty Chemicals (DCMSCL) offered through rights issue. The shares rank pari-passu to existing Equity Shares of the company. Post-Acquisition, the shareholding of the company in DCMSCL has increased from 82.90% to 87.08%. Acquiring additional equity stake of the DCMSCL, will add additional revenue segment for the company and will create value to the company.

Rail Vikas Nigam has emerged as the Lowest Bidder (L1) from Central Railway for design, supply, erection, testing & commissioning of 132/55 KV Traction Substation, Sectioning post (SPs) and Sub sectioning post (SSPs) in 2 x 25 KV Traction System (Scott Connected Transformer) of Bhusaval - Khandwa Sections of Central Railway, to meet 3000 MT loading target on EPC mode. The cost of work is Rs 137.16 crore including applicable taxes. The order is to be executed within 24 months. 

Flair Writing Industries’ wholly-owned subsidiary -- Flair Writing Equipments has incorporated a subsidiary company in the name and style of ‘Flomaxe Stationery’. Flomaxe Stationery is incorporated to carry on the business of manufacturing and distribution of stationery and other allied products. Flomaxe Stationery is yet to commence its business operations.

Bombay Burmah Trading Corporation has received approval for sale of land situated at Muppandal, Thovalai, Kanyakumari District, Tamil Nadu admeasuring around 40.37 acres along with 12 Windmills subject to necessary due diligence, approvals, consents, permissions from the concerned authorities, if any, to SAV Construction and Muthukumar Enterprises and their affiliates for a total consideration of Rs 50.12 crore. 

Lupin has announced the acquisition of Huminsulin inn India from Eli Lilly and Company (Lilly) to further enhance its diabetes portfolio. Lupin has been marketing the Huminsulin range of products comprising of Insulin Human, including Huminsulin R, Huminsulin NPH, Huminsulin 50/50, and Huminsulin 30/70, through existing Distribution and Promotion Agreements with Lilly, India.