Dilip Buildcon receives LoA for mining
project
Dilip Buildcon said that it has it has
received a Letter of Acceptance (LoA) from the Northern coalfield (NCL), a
subsidiary of Coal India, for a new OB Removal contract of a mining project.
An order worth Rs717.45cr has pushed share
prices of the company nearly 2% up on Wednesday. NCL has given a work order for
its Jayant OCP Project at Singrauli in the state of Madhya Pradesh.
Escorts to launch India’s first
automated concept tractor over next 18-20 months
India’s leading agriculture equipment
maker, Escorts Limited (Escorts), made certain crucial announcements at
“Esclusive 2018”, its annual innovation platform. It is planning to launch
India’s first automated tractor in the next 18-20 months. Escorts has
collaborated with seven technology companies to develop this product:
Microsoft – Cloud and AI technology
Reliance Jio – networked platform for
providing top-notch service and genuine spare parts across the country
Trimble – sensors, controls, water level
management system and automated e-steering
Samvardhana Motherson Group – Smart
Interface Cabins
Wabco – Vehicle controls and automation
technology
Bosch – future emission readiness
AVL – electric driveline technology
Centrum Capital up 4%, acquires supply
chain finance business from L&T Finance
Centrum Capital’s subsidiary Centrum
Financial Services Ltd (NBFC arm), signed an agreement to acquire L&T
Finance’s supply chain finance business. The business has a loan book of
Rs800cr, a staff strength of 50 professionals and operates out of 16 cities in
India.
L&T Finance’s supply chain vertical
provides working capital finance to entities that are suppliers to large
industrial manufactures. Further, it also provides channel finance and
inventory finance to dealers. The combined customer base is ~800.
JK Paper, Amrutanjan Health Care,
Borosil Glass Works move out of ASM list
The ASM list has created havoc in the
stock market, as shares listed under the list have declined rapidly. ASM list
is released by BSE and NSE depending on the Sebi’s guidelines; the framework
basically checks market manipulation and high-risk stocks are placed under it.
However, Sebi seems to be satisfied with the movement of eight stocks that it
has now removed from the list.
Hudco stock jumps over 9% after strong
Q1FY19 numbers
Shares of HUDCO jumped over 9% on the BSE
in morning trade as company announced strong Q1FY19 numbers.
The company's net profit rose in Q1FY19 by
105% to Rs333cr vs. Rs162cr in the same quarter last fiscal. Its revenue jumped
70% to Rs1,530.9cr vs. Rs901cr.
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