MBL Infrastructure, HPCL and Mahindra & Mahindra Finance to see some action today

MBL Infrastructure has completed the construction work of original scope of work of Bikaner-Suratgarh Section of NH-62 in the state of Rajasthan in terms of the concession agreement executed by Suratgarh Bikaner Toll Road Company (SBTRCL), a wholly owned subsidiary company. SBTRCL has applied to authority for addition of 5.289 kms for tolling and for the completion certificate of the BOT project in terms of the concessionaire agreement.

Hindustan Petroleum Corporation (HPCL) has signed a non-binding Memorandum of Understanding (MoU) with NTPC Green Energy (NGEL) on January 3, 2023 in New Delhi for Development of Renewable Energy based Power Projects to tap Business opportunities in RE and supply of 400 MW round the clock renewable power for requirements of HPCL. This MoU marks the first step for NGEL and HPCL to collaborate and cooperate in the field of development of Renewable Energy projects which shall help HPCL in meeting its Clean Energy Commitments.

The Reserve Bank of India (RBI) has lifted the ban on Mahindra & Mahindra Finance for outsourcing recovery and repossession agents with immediate effect. On September 22, the regulator barred Mahindra Finance from carrying out any recovery or repossession activity through outsourced agents.

Adani Ports and Special Economic Zone (APSEZ) has handled cargo volume of 25.1 million metric tonnes (MMT) in December, 2022, registering a growth of 8% Y-o-Y. During April-December 2022, APSEZ has clocked 253 MMT of cargo volumes, which is a good 8% Y-o-Y growth.

HDFC Bank has reported around 19.5% rise in its advances to around Rs 15,070 billion as of December 31, 2022 as compared to Rs 12,609 billion as of December 31, 2021 and a growth of around 1.8 % over Rs 14,799 billion as of September 30, 2022. Gross of transfers through inter-bank participation certificates and bills rediscounted, the Bank’s advances grew by around 23.6% over December 31, 2021 and around 3.3% over September 30, 2022.

Gujarat Industries Power Company has received board’s approval for award of EPC Contract to Bhimji Velji Sorathia Construction at the cost of around Rs 259.00 crore for Road, Drain and Pond Works of Solar / Wind / Hybrid RE Park of 2375 MW capacity at Khavda, Great Rann of Kutch area, Gujarat. The Board of Directors at its meeting held on January 3, 2023 has approved the same. The company has issued Letter of Intent to Bhimji Velji Sorathia Construction on January 4, 2023.

Adani Group is all set to pay an additional amount of Rs 48.65 per share to NDTV stockholders who tendered their shares in its open offer between November 22, 2022 and December 5, 2022. With this, the group will help the stockholders to match what it had paid to buy out a stake of the NDTV's founders. Recently, the group acquired 27.26% equity stake in NDTV from Prannoy Roy and Radhika Roy for Rs 342.65 per share.