Buzzing stocks: Engineers India, NLC, Bharti Airtel, Asian Paints, Cipla, Sukhjit Starch & Chemicals Ltd, PNB Housing, GR Infraprojects, Spandana Sphoorty
Engineers India Limited, a Navratna PSU under Ministry of Petroleum and Natural Gas, has been engaged as project management consultant by NLC, a Navratna PSE under Ministry of Coal for its landmark A 1,200-TPD Lignite to Methanol project, first of its kind in India.
Bharti Airtel Ltd has entered into an agreement for acquisition of 62,58,000 (14.304 per cent) equity shares in Avaada MHAmravati Private Limited, a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws.
Asian Paints Ltd has entered into a pact with the promoters of Weatherseal Fenestration Private Limited — Harish Munireddy and Pratibha SB and Weatherseal Fenestration — to purchase 51 per cent stake for ₹18.84 crore.
Sukhjit Starch and Chemicals Ltd has successfully commissioned hydrogen generating plant from biogas produced from biomass/process effluent at its new manufacturing unit at Phagwara (Punjab). The hydrogen produced will be captively consumed by the company, for the time being, it said in a notice to the stock exchanges.
GR Bandikui Jaipur Expressway Private Ltd, a wholly-owned subsidiary of GR Infraprojects Ltd, has executed the concession agreement with the National Highways Authority of India. The project is for the construction of four-lane Greenfield expressway spur from Delhi-Vadodara Greenfield expressway near Bandikui to Jaipur in Bharatmala Pariyojana Phase-1 in Rajasthan on Hybrid Annuity Mode.
The board of directors of PNB Housing Finance has approved the issuance of non-convertible debentures aggregating up to ₹2,000 crore on a private placement basis.
The board of Spandana Sphoorty Financial has approved the issuance of non-convertible debentures of up to ₹40 crore on a private placement basis. These NCDs will be issued at a nominal value of up to ₹10 lakh per debenture.
Cipla and not-for-profit research and development organisation DNDi have launched child-friendly 4-in-1 anti-retroviral treatment for young children living with HIV in South Africa. This combination treatment has been developed by Cipla and the Drugs for Neglected Diseases initiative (DNDi).