SJVN, Garware Hi-Tech Films and Yatra Online to see some action today

SJVN has received approval for signing of Joint Venture Agreement with Indian Oil Corporation (IOC) for the purpose of formation of Joint Venture Company for development of Green RTC/Renewable Projects and other New Technology based Projects. The entity to be formed will be a 50:50 JV whereby both SJVN and IOCL shall hold 50% stake. 

Garware Hi-Tech Films has received approval for capacity addition plan of 300 Light Sensitive Fabric per annum (LSF/P.A.) for new PPF line at Waluj, Chhatrapati Sambhaji Nagar, Maharashtra. The investment required for said expansion is around Rs 125 crore. The Board of Directors of the Company at their Meeting held on May 29, 2024 have approved the same. 

Yatra Online has launched its expense management solution to enable both international and domestic enterprises to manage their business expenditure efficiently. This highly scalable tool will revolutionize the way businesses handle both travel and non-travel expenses, offering unparalleled efficiency and accuracy. The comprehensive solution promises to streamline the entire expense management process, while offering a seamless integration of travel bookings and expense tracking. Yatra's Expense Management Solution stands out with its utilization of cutting-edge technologies including GenAI Large Language Models (LLMs) for receipt analysis.

Avantel has received a supply order worth of Rs 109.76 crore vide order dated May 29, 2024, from Ministry of Defence, Government of India for supply of SATCOM Equipment. The said order is to be executed in 12 months.

Magna Electro Castings has received approval to make investment in equity shares of First Energy TN1 (FETN1PL), a special purpose entity formed for purpose of setting up captive power plants. The objective of acquisition is to comply with the minimum shareholding requirement of 26% by Captive users. The Company is already holding 14,40,000 equity shares 6.55% of the Share Capital of FETN1PL in relation to the Solar captive power plant at Sivaganga District. FETN1PL, is enhancing its existing solar project in Tamilnadu. The Board has approved to procure additional 1MWp for the existing Solar Power plant and make investment in equity shares of FETN1PL as Captive User.

Capacit'e Infraprojects is planning to raise funds up to Rs 100 crore in the form of Non-Convertible Debentures (NCD) on private placement basis. A meeting of the Board of Directors of the Company is scheduled to be held on Monday, June 3, 2024, inter-alia to consider and approve the same. 

Optimus Finance has received approval for incorporation of a Wholly Owned Subsidiary (WOS) of the Company namely ‘Optimus Realty’. The proposed wholly owned subsidiary company to be incorporated in India shall carry out business in the field of realty & construction projects. The incorporation of the wholly owned subsidiary will enable the Company to capitalize on growth opportunities in the dynamic real estate, infrastructure and construction sector. This strategic move will enhance the company’s agility and strengthen its customer-centric approach, positioning it for sustained success in these markets.