Coforge, Tata Steel and MOIL to see some action today

Coforge’s wholly owned subsidiary -- Coforge Pte., Singapore, has entered into a loan agreement for availing loan facility with Hongkong and Shanghai Banking Corporation, a company organised under the Companies Ordinance of the Hong Kong Special Administrative Region (HKSAR) and operating from its International Financial Services Centre Banking Unit in GIFT City, Gujarat. The Facility Agreement has been entered into in respect of bridge loan facility for an amount up to $250 million. 

Tata Steel, through Tata Steel Industrial Consulting Division (TSIC), and TEXMiN, the Mining Technology Innovation Hub at IIT (ISM) Dhanbad, have forged a landmark partnership aimed at catalysing innovation and reshaping the landscape of natural resource management in India. The Memorandum of Understanding (MoU) marks a significant commitment towards propelling the mining industry into the era of Mining 4.0, underlining both institutions' dedication to fostering a sustainable and efficient future for the sector. The partnership between TSIC and TEXMiN encompasses a multifaceted approach aimed at achieving several key objectives.

Continuing its spectacular performance of FY24, MOIL has registered its best ever April production since inception at 1.60 lakh tonnes in April, 2024, registering a significant growth of 22% over April, 2023. On the sales front, the company has achieved its best ever April sales of 1.15 lakh tonnes in April, 2024, registering a growth of 17% in comparison to April 2023.

UGRO Capital’s Board of Directors have approved an equity capital raise of Rs 1,322 crore through Compulsory Convertible Debentures (CCD) and Warrants. The equity fund raise is subject to shareholder approval. UGRO raised this capital through an innovative combination of Compulsorily Convertible Debentures with Warrants, ensuring that the capital required for both the current year's growth and next year's growth is effectively locked in today.

SIKA Interplant Systems has secured additional new orders for advanced engineering products and services amounting to Rs 86 crore (approximate). With these additional contracts, the cumulative of new orders received by the company over the last thirteen months is Rs 236.5 crore (approximate) as on April 30, 2024.

Indian Energy Exchange, India’s premier electricity exchange, achieved 9,044 MU overall volume, in April24, marking a 14.1% year-over-year increase. 

Adani Enterprises has reported results for fourth quarter (Q4) ended March 31, 2024. The company has reported 76.17% rise in its net profit at Rs 776.71 crore for the quarter under review as compared to Rs 440.88 crore for the same quarter in the previous year. However, total income of the company decreased by 10.62% at Rs 9,556.66 crore for Q4FY24 as compared Rs 10,692.75 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 54.88% fall in its net profit at Rs 352.25 crore for fourth quarter ended March 31, 2024 as compared to Rs 780.68 crore for the same quarter in the previous year. However, total income of the company increased by 1.09% at Rs 29,630.29 crore for Q4FY24 as compared Rs 29,311.42 crore for the corresponding quarter previous year.