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Vodafone Idea - Board approves raising of funds

The Board has approved the raising of funds, however, the total raising of funds shall not exceed Rs

The Board has approved the raising of funds, however, the total raising of funds shall not exceed Rs. 25,000 crore.

1) issue of equity shares or securities convertible into equity shares up to an aggregate amount of Rs. 15,000 crore by way a public issue, preferential allotment, private placement, qualified institutions placement or through any other permissible mode

2) issuance of unsecured and/or secured, non-convertible debentures up to an aggregate amount of Rs. 15,000 crore, by way of public offering or private placement basis or otherwise

Repco Home Finance - Board approves raising of funds

The Board has approved the raising of funds by issue of Non Convertible Debentures (NCDs) upto an am

The Board has approved the raising of funds by issue of Non Convertible Debentures (NCDs) upto an amount of Rs.4,000 crore, subject to the approval of the shareholders at the ensuing Annual General meeting of the Company. 

Repco Home Finance- Q1 FY21 Results update

Repco Home Finance- Q1 (Cons) update  

Repco Home Finance- Q1 (Cons) update

  • Total income grew 4% to Rs. 341.9 crs.
  • Net interest income stood at Rs. 128.0 Crs and margins at 4.3%.
  • Net profits stood at Rs. 64.0 crs.
  • Loans sanctions stood at Rs. 161.5 crs
  • Loan disbursements stood at Rs. 181.6 crs
  • Interest spread remained healthy at 3.0% respectively.
  • Return on assets and equity remained robust at 2.2% and 15.0% respectively

Loan Book and composition
The overall loan book rose 6% to Rs. 11,979.5 crs at the end of June 2020. Loans to the self employed segment accounted for 51.7% of the outstanding loan book and loans against property product accounted for 18.7% of the same.
 
Asset Quality
Stage 3 assets stood at 4.0% of the loan assets as at the end of June 2020 as compared to 4.2% as at the end of June 2019. 
 
Provision for Expected Credit Losses
As required under IND AS, the company has carried provisions for expected credit losses to the tune of Rs. 236.1 crs or 2.0% on total loan assets. Stage 3 coverage ratio stood at 41% at the end of June 2020 as compared to 31% in the previous year.
 
Capital Adequacy
The capital adequacy ratio stood provisionally at 26.2% comprising entirely of Tier-1 capital. The minimum capital adequacy ratio prescribed by the National Housing Bank is 12.0%.
 
Distribution network
As on June 20, 2020, the Company had a total network of 153 branches and 24 satellite centers spread across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala, Maharashtra, Odisha, Gujarat, West Bengal, Madhya Pradesh, Jharkhand, Rajasthan and the Union Territory of Puducherry.

G E Shipping contracts to sell its Very Large Gas Carrier “Jag Vidhi”

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 1996 built Very

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 1996 built Very Large Gas Carrier, Jag Vidhi, of about 78,503 cbm. The vessel will be delivered to the new buyer in Q3 FY 2020-21.

Including Jag Vidhi, the company's current fleet stands at 46 vessels, comprising 33 tankers (11 crude carriers, 17 product tankers, 5 LPG carriers) and 13 dry bulk carriers with an average age of 12.37 years aggregating 3.70 mn dwt.

Jubilant Life Sciences- Q1 FY21 Results update

Jubilant Life Sciences- Q1 (Cons) update Full read: Jubilant Life Sciences Q1FY21.pdf (6.

Jubilant Life Sciences- Q1 (Cons) update

Full read: Jubilant Life Sciences Q1FY21.pdf (6.42 mb)

NBCC has secured the total business of Rs. 150 crore in August

NBCC (India) Limited has secured the total business of Rs. 150 crore in the month of August, 2020.

NBCC (India) Limited has secured the total business of Rs. 150 crore in the month of August, 2020.

Ahluwalia Contracts receives Order from Bandhan Bank HQ for civil construction work

Ahluwalia Contracts (India) Limited has secured new order aggregating to Rs.99.50 Crores (approx.) f

Ahluwalia Contracts (India) Limited has secured new order aggregating to Rs.99.50 Crores (approx.) for Construction of new Civil and Structural works for Bandhan Bank Headquarters Project at Kolkata (West Bengal).

The total order inflow during the FY 2020-21 stands at Rs.389.50 Crores.

L&T Defence awarded Contract by Ministry of Defence

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The defence arm of Larsen & Toubro, India's leading EPC Projects, Manufacturing, Defence and Services conglomerate, has been awarded a Significant Contract by the Indian Ministry of Defence (MoD) for the Supply of four Regiments of Pinaka Weapon Systems.

The contract involves supply of Pinaka Launchers, Battery Command Posts and associated Engineering Support Package (ESP) for four Regiments. The Pinaka Launch system has been indigenously developed by L&T as part of Pinaka development program of Defence Research Et Development Organization (DRDO, ARDE) and functions as a high tech, all weather, long range, area fire artillery weapon system.

The contract is classified as significant which carries a value between INR 1,000 to INR 2,500 Cr.

KEC International wins New Orders across various businesses

KEC International has secured new orders of Rs. 1,401 crore across its various businesses: Transmiss

KEC International has secured new orders of Rs. 1,401 crore across its various businesses:

Transmission & Distribution:
The T&D business including SAE Towers has secured orders of Rs. 1,143 crore for various T&D projects from Oman Electricity Transmission Company (OETC), Power Grid Corporation of India Ltd. (PGCIL) and other customers.

Railways:
The Railways business has secured orders of Rs. 120 crore for Overhead Electrification (OHE)/Civil works in India.

Smart Infra:
The Smart Infra business has secured orders of Rs. 48 crore in the Defence segment in India.

Cables:
The Cables business has secured orders of Rs. 90 crore for supply of various types of cables/cabling projects in India and overseas.

Strides receives USFDA approval for Prednisone Tablets

Strides Pharma Science today announced that its step-down wholly owned subsidiary, Strides Pharma Gl

Strides Pharma Science today announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Prednisone Tablets USP, 1 mg from the United States Food & Drug Administration (USFDA). The product is a generic version Meticorten® Tablets, 1 mg of Schering Corporation.

According to IQVIA MAT July 2020 data, the US market for Prednisone Tablets USP, 1 mg is approximately US$ 12 Mn. The product will be manufactured at the company’s flagship facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.

The company has 126 cumulative ANDA filings with USFDA of which 89 ANDAs have been approved and 37 are pending approval.

NBCC signs MoU with Election Commission of India for a construction work

NBCC has signed the MoU with Election Commission of India for Planning, Designing and Construction o

NBCC has signed the MoU with Election Commission of India for Planning, Designing and Construction of “Office Building in Dwarka, New Delhi” on September 01, 2020 wherein NBCC will work as Project Management Consultant.

The likely estimated cost of the project would be Rs. 150 crores.

Valecha Engineering bags order from Southern Railway

Valecha Engineering receives contract work from Southern Railway. Work Nature: MAS- AJJ Section: Re

Valecha Engineering receives contract work from Southern Railway.

  • Work Nature: MAS- AJJ Section: Reconstruction of Bridge 9R at Km 1/30-34 consisting of 3 x 48.00m clear span with bow string girder between Chennai
  • Value: INR 35.76 crores
  • Time Period: 13 months
  • Terms: The project is on schedule rate awarded in brief contract as per Bill of Quantity (BOQ) mode. The payment is made as per RA Bills against execution of actual quantity.

Tata Power has been awarded with Contract for Two Regiments of Pinaka Multiple Rocket Launcher System

The Strategic Engineering Division (SED) of the Company has signed the Pinaka 3 contract with the Mi

The Strategic Engineering Division (SED) of the Company has signed the Pinaka 3 contract with the Ministry of Defence, Government of India. Pinaka Multi Barrel Launcher Rocket System is an all-weather indirect fire artillery rocket system.

  • Value of contract: INR 490 Crores
  • Time period: 31 Months after accord of Bulk Production Clearance (BPC) after the First off Production Model (FOPM) (which has timeline of 6 months after contract signing) is validated and BPC is granted

Dr. Reddy's Laboratories announces the launch of Methylphenidate Hydrochloride Extended-Release Tablets USP in the US

Dr. Reddy’s Laboratories today announced the launch of Methylphenidate Hydrochloride Extended-

Dr. Reddy’s Laboratories today announced the launch of Methylphenidate Hydrochloride Extended-Release Tablets USP, 18 mg, 27 mg, 36 mg and 54 mg, a therapeutic equivalent generic version of Concerta® (methylphenidate Hydrochloride) Extended-Release Tablets, 18 mg, 27 mg, 36 mg, and 54 mg, approved by the U.S. Food and Drug Administration (USFDA).

The Concerta® brand and generic market had U.S. sales of approximately $1.159 billion MAT for the most recent twelve months ending in June 2020 according to IQVIA Health.

Dr. Reddy’s Methylphenidate Hydrochloride Extended-Release Tablets, USP are available in strengths of 18 mg, 27 mg, 36 mg, and 54 mg tablets in bottle count sizes of 100.

JSPL continues its consistent growth performance, Standalone Sales up by 37%

JSPL’s Standalone Steel sales up by 37% (YoY) in August 2020. JSPL’s consolidated Steel
  • JSPL’s Standalone Steel sales up by 37% (YoY) in August 2020.
  • JSPL’s consolidated Steel production (Inc. Pig iron) up by 21 % (YoY)in August 2020.
  • Export Contributed to 42% of total sales volumes
  • World’s First Coal Gasification based DRI plant at JSPL Angul has recorded highest ever Gas based DRI production with over 72% of rated capacity in August 2020

India’s leading Infrastructure conglomerate in the Steel, mining & Power sector, Jindal Steel & Power Limited has recorded a 38% (YoY) growth in consolidated Steel Sales (Inc. Pig iron) with 8,36,000 tonnes in August 2020 against Consolidated Steel sales of 6,06,000 tonnes in the previous year. JSPL’s Consolidated Steel Production (Inc. Pig iron) stood at 8,25,000 tonnes with a growth rate of 21% (YoY) in comparison to 6,81,000 tonnes of Consolidated Steel production in the previous year.

JSPL’s standalone Steel Production rises by 18% (YoY( with 6,25,000 tonnes (Inc. Pig iron) in August 2020 in comparison to 5,29,000 tonnes of Steel production in the previous year. JSPL’s standalone sales (Inc. Pig iron) also increase by 37% (YoY) with 6,82,000 tonnes in August 2020 as compared to 4,96,000 tonnes of standalone steel production in the previous year.

Steel Exports contributed to 42% of the total sales volumes. JSPL’s Barbil Pellet plant achieved the best-ever production of 7,00,600 tonnes of pellets in the month of August 2020, which is the highest ever monthly production figure since its inception.

Zydus Cadila receives final approval from the USFDA to market Midodrine Hydrochloride Tablets

Zydus Cadila received final approval from the USFDA to market Midodrine Hydrochloride Tablets (US RL

Zydus Cadila received final approval from the USFDA to market Midodrine Hydrochloride Tablets (US RLD- ProAmatine Tablets) in the strengths of 2.5 mg, 5 mg, and 10 mg.

The drug is used for certain patients who have symptoms of low blood pressure when standing. This condition is also known as orthostatic hypotension. The drug will be manufactured at the group’s formulation manufacturing facility at SEZ, Ahmedabad.

The group now has 298 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY 2003-04.

Power Mech Projects has received various work orders aggregating to a value of INR 1,311.70 Cr

The Company has received letter of intent/L1 intimation for the following work worth Rs. 1,311.70 Cr

The Company has received letter of intent/L1 intimation for the following work worth Rs. 1,311.70 Crores.

1.4 laning of Channarayanapatna Bypass from km. 140.449 to km. 149.596 and Hassan Bypass from km. 175.935 to km. 185.684 and providing Grade Separator Structures, Service Road and other safety measures in Devihalli (km. 108.486) to Hassan (km. 185.684) section of NH-75 (old NH-48), on EPC basis in the state of Karnataka worth Rs. 555.13 Crores from NHAI. This is a JV between Power Mech and SRC Infra in the ratio of Power Mech 60 % and SRC infra -40 % respectively.

2.Widening and up gradation to 2 lane with paved shoulder configuration and geometric improvement from km 298.000 to km 339.000 on Aizawl-Tuipang Section of NH-54 in the State of Mizoram (Package-7) worth Rs. 446.40 Crores from NHIDCL. This is a JV between Power Mech and SRC Infra in the ratio of Power Mech74% and SRC infra- 26 % respectively.

3. Material withdrawal/collection from store, pre erection assembly, erection, alignment, welding, NDT ,bolting, fastening’ torque tightening of HSFG Bolts, grouting, application of refractory, Critical piping / Power cycle piping including valves & hanger supports testing, touch up painting, Erection completion, precommissioning, Commissioning, trial runs, PG test, handing over of SJVN, 2 X600 MW Buxar TPP worth Rs. 176.17 Crores from LMB.

4.Balance doubling works (Civil) between bhimavaram and veeravasaram stations of bhimavaram narsapur section in connection with doubling of BVRM NS section on vijayawada division of south central railway in Andhra Pradesh State,India, worth Rs. 35 Crores from Rail Vikas Nigam Limited.

5. Yard Modification works at MIM as per the revised ESP in connection with doubling of railway line between Gudivada-Machilipatnam stations of Vijayawada, worth Rs. 32 Crores from Rail Vikas Nigam Limited.

6.Balance Misc Civil works of Earth work,blanketting bridges,drains in cuttings,LCs etc between piprai gaon & orr including yards including widening of formation of ASKN-Pipraigaon extension of FOB at Ashoknagar,passenger plaform and COP at pipraigaon of SKN(KM1049.575)-PIA (KM 1022.406) section Total 26.169 kms of Blna - Kota doubling pkg-IIl work worth Rs. 46 Crores from Rail Vikas Nigam Limited.

7.O&M of Ash Handling Plant of 3x660MW Talwandi Sabo Power Lid. Vill.-Banawala, Distt.- Mansa, Punjab worth Rs. 21 Crores from Steag.