L&T Construction wins contract for water supply and distribution in Sri Lanka
The Construction arm of L&T has secured orders from prestigious clients in Sri Lanka and from within India.
An EPC order has been bagged from the National Water Supply Et Drainage Board for the execution of the Kundasale Haragama water supply project in Sri Lanka's Kandy district, L&T said in the filing.
Funded by Exim Bank of India and Bank of Ceylon and envisaged to provide drinking water to approximately 3.3 lakh people, the project scope includes design, construction, commissioning and 0&M of an intake structure, 55 MLD water treatment plant, 73 km of transmission mains, 19 Service Reservoirs of total capacity 16.2 ML, 9 Pump Houses, 280 Kms. distribution mains and associated electrical, mechanical & instrumentation work.
DHFL clarifies on reports over offloading loans
Dewan Housing Finance Corporation (DHFL), in its press note released on Friday to the exchanges, clarified on media reports stating that "DHFLoffloads loans valued at Rs 2000 cr to offshore investors."
The company has been undertaking securitisation (i.e sell down of its loan portfolio) transactions in the normal course of business since last 6-8 months. However, the said transaction(s) did not tantamount to be a material event under Regulation 30 of the SEBI, the company said in a press note today.
Aurobindo Pharma drags Nifty Pharma index 2%
The Nifty Pharma index declined 2% on Friday led by heavy selling in Aurobindo Pharma along with Cadila Healthcare, Glenmark, and Divis Lab.
Shares of Aurobindo Pharma dropped 5% after the company received a warning letter dated June 20, 2019, from USFDA relating to the company's Unit XI, API manufacturing facility situated at Sy.No.61-66, IDA, Pydibhimavaram, Ranasthalam (Mandai), Srikakulam District, Andhra Pradesh. This action follows the earlier inspection of the site by the USFDA in February 2019, the company said in a press note released today.
Indiabulls Housing receives CCI nod to merge with Lakshmi Vilas Bank
Shares of Indiabulls Housing Finance and Lakshmi Vilas Bank gained in the noon trade after the company announced that the Competition Commission of India (CCI) approved the merger between the companies.
The Competition Commission of India has by way of its letter dated June 20, 2019, intimated that CCI, at its meeting held on June 20, 2019, considered the proposed combination (Comb Reg. No. (C-2019/05/662) and approved the same under sub-section (1) of Section 31 of the Competition Act, 2002, Indiabulls said in the filing.
Jet Airways stock swings after NCLT accepts insolvency plea
Shares of Jet Airways hit the lower circuit and fell in today trade after the National Company Law Tribunal (NCLT) has admitted State Bank of Indiaâ(SBI) insolvency plea against the company under section 7 of the Insolvency and Bankruptcy Code (IBC), media reports stated.
However, the stock has recouped early losses and trading higher on the BSE.
The tribunal has also instructed that the resolution process be wrapped up in 90 days as the matter is of national importance, media reports stated.
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