AZAD Engineering, BEML and Godrej Agrovet to see some action today

AZAD Engineering has signed a New long term contract & price agreement (LTCPA) with Mitsubishi Heavy Industries, Japan (MHI), valued at $73.47 million (Rs 651 crore) for supply of highly engineered & complex rotating and stationary Airfoils for Advanced Gas & Thermal power turbine engines to meet their global demand in the power generation industry.

BEML has entered into a Tripartite Memorandum of Understanding (MoU) along with Bharat Forge and Data Patterns (India), to jointly support the Advanced Medium Combat Aircraft (AMCA) programme and to participate in the Expression of Interest (EoI) floated by Aeronautical Development Agency (ADA).

Godrej Agrovet has signed a non-binding Memorandum of Understanding (MoU) with the Ministry of Food Processing Industries (MoFPI), Government of India. The MoU has been signed for proposed investment of Rs 960 crore to set up manufacturing and processing facilities along with an upstream R&D center.

Lemon Tree Hotels has signed its latest property Keys Prima by Lemon Tree Hotels, Saj by the Lake, Malshej Ghat, Maharashtra. This is the first of the several properties that the company is expected to sign with SAJ Hotels. This hotel will be franchised under Lemon Tree Hotels for distribution and marketing purposes and further strengthens the company’s presence in Maharashtra, catering to both business and leisure travellers with a fresh, vibrant, and value-driven experience. The Pune International Airport is around 110 kms away from the property, while the Kalyan Railway Station is about 92 kms away. The hotel is well connected by roadways for both public and private transport.

PG Electroplast (PGEL) through its Wholly Owned Subsidiary PG Technoplast (PGTL) has acquired a 50-acre land parcel in Sri City, Andhra Pradesh. This marks a landmark moment for the PG Group, as it establishes the company’s first facility in South India and represents its largest land acquisition to date. At the outset, PGEL plans to invest around Rs 1,000 crore in developing this state-of-the-art integrated manufacturing campus over the next 5 years. Strategically located near Chennai port, the facility will not only strengthen PGEL’s pan-India manufacturing footprint but also support long-term export opportunities.

Shriram Finance has made further investment in Shriram Overseas by subscribing 1,90,25,000 Equity Shares of face value of Rs 10 each for cash at a premium of Rs 147.69 per Equity Share aggregating to Rs 300 crore. The objective of the capital infusion in Shriram Overseas is to further strengthen its capital base.

Waaree Energies’ wholly owned subsidiary -- Waaree Power (WPPL) has executed the definitive share subscription cum share holders agreement for acquiring 76% stake in Racemosa Energy (India), for an aggregate consideration of around Rs 53 crore. The acquisition is expected to be completed in FY 2025-26 subject to completion of conditions precedents to closing.