SJVN, Surya Roshni and MIC Electronics to see some action today

A Memorandum of Agreement (MoA) was signed between SJVN and Government of Arunachal Pradesh for executing five hydro power projects of 5097 MW. Five projects are 3097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MW Amulin and 400 MW Mihumdon. Further, 3097 MW Etalin HEP is the largest hydro project under development in India. The construction of these projects shall involve total investment of around Rs 50,000 crore and would add over 20,652 million units of electricity generation annually to the nation's capacity.

Surya Roshni has obtained orders amounted to Rs 171.16 crore (with GST) including one order of Rs 163.00 crore (with GST) from Bharat Petroleum Corporation (BPCL) for CGD Project on Pan India basis and other order of Rs 8.16 crore (with GST) from Hindustan Petroleum Corporation (HPCL) for supply of 3LPE Coated Line Pipe also for CGD Project for West Bengal. The aggregate value of the said Work-Order is Rs. 4. 03 crore.

MIC Electronics has received Letter of Acceptance from Nagpur Division of Central Railway Zone for Signaling and Telecom works in connection with Amrit Bharat Station Scheme at Itwari (ITR), Kamptee ((KP), Bhandara Rd. (BRD), and Tumsar Rd. (TMR) Stations.

NBCC (India) has signed a Memorandum of Understanding (MoU) with Indian Green Building Council (IGBC) on August 11, 2023 for promoting green buildings in the country and conducting awareness sessions for promoting green buildings to facilitate adoption of green buildings. NBCC in collaboration with IGBC would plan to further enhance the green initiatives in major upcoming building projects.

Inox Wind (IWL) has raised Rs 297.50 crore though the allotment of aggregate 29,75,00,000 - 0.01% Non-Convertible, Non-Cumulative, Participating, Redeemable Preference Shares (NCPRPS) of Rs 10 each of the Company, fully paid-up, at par, on private placement basis to Inox Wind Energy, Holding and Promoter Company.  ‘IWL Committee of the Board of Directors for Operations’ of the Company in their meeting held on August 10, and August 11, 2023 has allotted the same. 

RHI Magnesita India (RHIM) has made further investment in RHI Magnesita India Refractories, a wholly owned subsidiary of the Company by way of subscription of 50,72,464 equity share of RHI Magnesita India Refractories having face value of Rs 10 each at a premium of Rs 197 each for an amount aggregating to Rs 105 crore on right issue basis. The subscription of equity shares of RHI Magnesita India Refractories by the company for the purpose of repayment or pre?payment, in full or in part, of certain borrowings availed by RHI Magnesita India Refractories.

Oil and Natural Gas Corporation (ONGC) has reported results for first quarter ended June 30, 2023 (Q1FY24).  The company has reported 34.14% fall in its net profit at Rs 10,015.04 crore for the quarter under review as compared to Rs 15,205.85 crore for the same quarter in the previous year. Total income of the company decreased by 17.76% at Rs 35,426.18 crore for Q1FY24 as compared Rs 43,078.39 crore for the corresponding quarter previous year. On consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 17,382.97 crore for the first quarter ended June 30, 2023 as compared to Rs 8,580.75 crore for the same quarter in the previous year. However, total income of the company decreased by 9.66% at Rs 166,367.12 crore for Q1FY24 as compared Rs 184,151.13 crore for the corresponding quarter previous year.