TOP CORPORATE NEWS
Torrent Power up as
shareholders approve merger
Shares of
Torrent Power gained over 2% at Rs148 on BSE in otherwise weak markets as
shareholders approved the proposed merger of two group companies with itself.
The stock opened
at Rs148 and touched a high of Rs153 so far on both the stock exchanges. The
shareholders of the company, at the court convened meeting held on April 30,
2015, approved the merger of Torrent Energy Ltd and Torrent Cables Ltd, the
company said in a release after market hours on Wednesday.
Engineers India gains after
Abu Dhabi office wins order
Engineers India
said that its Abu Dhabi office has till date in the current year secured orders
worth Rs150 crore from clients in Middle East. These orders are from the oil
and gas companies as well as through EPC contractors for providing engineering
services. The company has expanded its office in Abu Dhabi to cater to its
clients in the region. The office has state-of-art facilities and has been well
appreciated by the clients, Engineers India said in a statement.
TVS Motors gains on securing
new patent
Shares of TVS Motor Company rose over 2% to Rs229.15 on the Bombay Stock
Exchange (BSE) after the automobile manufacturer bagged a patent for technology
related to three wheeler engines.The stock opened at Rs225.25 on the BSE and
touched a high of Rs230.90.The patent office in India awarded the patent, which
relates to a cooling system for the rear mounted liquid cooled engine in three
wheelers.
Glenmark Pharma gains after
USFDA nod for a medicine
Glenmark
Pharmaceuticals rose nearly 2%, touching to Rs872.2, after Glenmark
Pharmaceuticals Inc., USA has been granted final approval by the USFDA for
Calcipotriene Cream, 0.005%. Glenmark Pharmaceuticals said Glenmark
Pharmaceuticals Inc., USA has been granted final approval by the United States
Food & Drug Administration ( USFDA) for Calcipotriene Cream, 0.005%, the
therapeutic equivalent of Dovonex Cream, 0.005% of Leo Pharma A/S. Glenmark
plans to commence shipping of Calcipotriene Cream, 0.005% immediately.
BEML gains on Delhi Metro
order worth Rs645 crore
Shares of BEML
gained 2% to Rs1243 on NSE as the company has bagged an order worth Rs645 crore
from Delhi Metro Rail Corporation (DMRC) for design, manufacture, supply, testing
and commissioning of 74 nos broad guage metro cars for their RS-13 project
(Rolling Stock) – Positive read thru for BEML.
Bharat Forge arm and L&T
in run for Rs15,000 gun orders
Bharat Forge
subsidiary and L&T are only two in run for Rs15,000 gun orders –
Positive for Bharat Forge and L&T . L&T and Kalyani Strategic Systems
Ltd (KSSL), a Bharat Forge subsidiary are the only two Indian companies
currently in contention for the towed artillery gun pie that is valued at
around Rs15,000 crore.
Bajaj Electricals bags new
order from Odisha Power
Bajaj
Electricals has announced that the Engineering & Project Business Unit of
the Company has bagged 3 new Orders from Odisha Power Transmission Corporation
Ltd (OPTCL) worth Rs84.54 crore.
Government approves Rs 4,721
cr road projects
Government
approves Rs4,721 cr road projects in Madhya Pradesh, Telangana – Positive
for Road Developers (IRB Infrastructure, IL&FS Transportation, Ashoka
Buildcon, Sadbhav Engineering among others)
The government
today approved Rs4,720.92 crore highways projects in Madhya Pradesh and
Telangana under NHDP. Development of the four laning of the Guna-Biaora and
Biaora-Dewas section of National Highway - 3 in Madhya Pradesh with an estimate
cost of Rs2,815.69 crore on BOT basis.
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