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TOP CORPORATE NEWS- 9 OCT 2018

Corporate News

BHEL wins Rs2,900cr orders for emission control equipment from NTPC

Bharat Heavy Electricals Ltd (BHEL) has bagged four orders for emission control equipment from NTPC Ltd. Valued at about Rs2,900cr, these orders involve the supply and installation of Flue Gas Desulphurization (FGD) systems for control of SOx emissions at NTPC’s 3×660 MW North Karanpura, 2×500 MW Mauda Stage-I, 3×660 MW Barh Stage-I and 2×660 MW Barh Stage-II power projects.
BHEL has been a major player in this area for more than a decade and one of the earliest entrants in the Indian market for emission control equipment, having successfully executed the FGD system at Tata Power’s Trombay Unit 8 in 2008. With these orders, BHEL is presently executing FGD systems for 17 units of NTPC and its JVs, other projects being 3×250 MW Bongaigaon, 2×490 MW National Capital Power Station (NCPS) at Dadri, and 2×660 MW Maitree in Bangladesh. Overall, BHEL has contracted FGD orders for 32 units from various customers till date.

Tata Motors tanks 13% on JLR volume and temporary plant shutdown concerns

The stock of Tata Motors Limited (TML) took a severe beating in trade today due to bad news emanating from its luxury car brand Jaguar Land Rover (JLR) with respect to volumes. It reported 12% yoy lower retail volumes and 2% yoy lower wholesale volumes in September 2018. Additionally, the company announced that it would halt production at its Solihull (England) facility for two weeks owing to lower demand for its models. Click here for the production halt story. All this led to a 13% cut in its share price as investors exited the stock in panic.

Sadbhav Infra’s arm wins arbitration against NHAI;

Shares of Sadbhav Infrastructure were trading 3% higher in the morning session on Tuesday as its subsidiary Nagpur Seoni Express Way Limited (NSEL) won an arbitration award against NHAI.
From the date of award till the final payment, NSEL shall receive interest at the rate of 12% per annum. Additionally, NSEL will get 19 semi-annual annuity amounts of Rs21.79cr instead of Rs19.19cr presently paid by NHAI making the total award amount of Rs110.50cr, the company said in a press release to the exchanges on Monday after market hours.

Coal India inks MoU with NLC to form JV for power generation projects

Coal India has inked an MoU with NLC India to form a joint venture (JV) for setting up solar and thermal power projects across the country.
As per an MoU, both the companies will have an equal equity participation of 50:50 in the JV. The new joint venture has a timeline of 15 months for the completion of solar power projects and 60 months for thermal power projects, both the companies said in their respective press notes to the exchanges on Monday after market hours.

NBCC (India) JV executes accord on redevelopment worth Rs250cr

NBCC has executed an MoU with Government of Rajasthan for the redevelopment of old MREC campus at Gandhi Nagar, Jaipur, amounting to Rs250cr.
“Real Estate Development & Construction Corporation of Rajasthan Ltd (REDCCOR: 50-50% JV of Govt. of Rajasthan and NBCC (India) Ltd) has executed an MoU with Govt. of Rajasthan on October 4, 2018, for the redevelopment of the old MREC campus at Gandhi Nagar, Jaipur, in Rajasthan amounting to Rs250cr (approx),” as per a BSE filing.

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