Bharat Dynamics, JSPL and Shashijit Infraprojects to see some action today

Bharat Dynamics (BDL), the manufacturer of Akash Missile, is geared up to take up export order. Given the export potential and demand of Akash in the international market, the company has been promoting the product at various forums including national and international exhibitions. The missile being offered for exports will be of a different version. The company is already supplying Torpedoes to a foreign country.

Jindal Steel & power’s (JSPL) subsidiary -- Jindal Power has been declared the successful bidder for Gare Palma IV/1 coal mine by the Ministry of Coal. Jindal Power won an auction for Gare Palma IV/1 coal mine at 25% bid premium of the representative price. 

Shashijit Infraprojects has been awarded contract for construction of ETP Tank, UG Water Tank, Foundations, Road Work along with other miscellaneous civil work from Kasyap Sweetners, a well reputed company from Mumbai, Maharashtra at their Vapi unit, Gujarat. The approximately value of the project is Rs 300-500 lakh. Project is likely to start by the first week of January, 2021. Mobilization of machinery and man power will start soon.

Jubilant Foodworks (JFL) has declared an investment of Rs. 92 crore into Barbeque-Nation Hospitality (BNHL) for an equity stake of 10.76%. Towards this end, the Company has entered into a Share Subscription Agreement to acquire equity shares and a Restated Shareholders’ Agreement to regulate the rights and obligations of BNHL’s key shareholders.

Garden Reach Shipbuilders and Engineers (GRSE) has commenced production of the first of the eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy. The contract for the construction of the eight ships at a cost of Rs 6,311 crore was signed with the Navy in April 2019. The compact and complex stealth crafts will be packed with state-of-the-art weapons and sensors like hull mounted sonar, towed sonar, torpedo launchers and rocket launcher to interdict and destroy sub-surface targets in coastal waters.

Satin Creditcare Network has raised Rs 150 crore and allotted Rated, Listed, Senior, Redeemable, Taxable Non-Convertible Debentures (NCDs) having face value of Rs 10,00,000 each on Private Placement Basis. NCDs will be redeemed on June 30, 2022.  The Working Committee of the company vide their resolution dated December 31, 2020 has allotted the same.

RITES has received approval from board of directors for acquiring 13% stake i.e. 1573 equity shares of Rs 10 each of Elicius Energy and signing of the agreement with it. The company is supporting the startup in development of tubular PEM Hydrogen Fuel Cell Stack of 500-1000 watt capacity and in order to guide the above developmental project.