by Hansraj Agrawal | Oct 11, 2024 | Share Market
Last Updated : Oct 11 2024 | 7:50 PM IST
360 ONE WAM has allotted 8,70,964 equity shares under ESOS on 11 October 2024. Consequent to the aforesaid allotment, the issued, subscribed and paid-up share capital of the Company has increased from Rs. 36,47,06,888/- comprising of 36,47,06,888 equity shares of Re. 1/- each, to Rs. 36,55,77,852/- comprising of 36,55,77,852 equity shares of Re. 1/- each.
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First Published: Oct 11 2024 | 7:31 PM IST
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by Hansraj Agrawal | Oct 11, 2024 | Share Market
Last Updated : Oct 11 2024 | 7:50 PM IST
For 1,500 MW / 12,000 MWh of pumped hydro energy storage
JSW Energy PSP Two, a step-down subsidiary of JSW Energy has signed Energy Storage Facility Agreement (ESFA) with Maharashtra State Electricity Distribution Company (MSEDCL) for procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage.
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The ESFA is signed following our announcement of receiving the letter of intent on 01 October 2024. The ESFA is for supply of energy storage capacity for a period of 40 years where the company will be entitled to receive a fixed capacity charge of Rs 84.66 lakhs per MW per annum.
The Bhavali Pumped Hydro Project, situated in the Nashik and Thane districts of Maharashtra will feature an 8-hour discharge capacity with a maximum of 5 hours of continuous discharge. The project is expected to be commissioned in next 48 months.
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First Published: Oct 11 2024 | 7:21 PM IST
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by Hansraj Agrawal | Oct 11, 2024 | Share Market
Last Updated : Oct 11 2024 | 7:31 PM IST
L&T Technology Services and Maharashtra State Cyber Department, launched India’s first integrated state-level Cyber Command And Control Center to create a safe and resilient digital environment, empowering citizens, businesses, and critical infrastructure with necessary world class technology & expertise to protect against cyber crimes.
The state-of-the-art-facility was inaugurated by Devendra Fadnavis, Deputy Chief Minister of Maharashtra at Mahape. This project positions Maharashtra in the forefront of Cybersecurity to facilitate and fast track cyber crime investigations, improve conviction rate, build capacity within police force and raise awareness of citizens regarding cyber crimes.
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L&T Technology Services, in consortium with M/s KPMG Assurance and Consulting Services LLP as Forensics & Technology Investigation partner, has executed this strategic project for Maharashtra Cyber department.
This project encompasses the establishment of the Cyber Crime Command & Control Center, a Technology Assisted Investigation center with advanced Digital Forensic tools, CERT – Maharashtra with AI-based Threat Intelligence tools, state-of-the-art Security Operations Center and a Cyber Center of Excellence for capacity building and citizen awareness.
The command and control center (CCC) will serve as a one stop shop for all grievance management through multiple channels like 14407 (which will be operational from 15th October), web portal, mobile app, among others. The Nodal Cyber Police station and 50 distirct cyber police stations will investigate the cases with help of TAI for citizen and enterprise complaints. Meanwhile, CERT-MH will attend to cyber incidents related to critical infrastructure and national security in coordination with other agencies. CERT-MH shall also provide proactive threat intelligence to the industry using AI technologies.
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First Published: Oct 11 2024 | 7:17 PM IST
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by Hansraj Agrawal | Oct 11, 2024 | Share Market
Last Updated : Oct 11 2024 | 7:31 PM IST
Sudarshan Chemical Industries has entered into a definitive agreement with the Germany-based Heubach Group, on its acquisition in a combination of an asset and share deal.
This strategic acquisition will create a global pigment company, combining SCIL’s operations and expertise with Heubach’s technological capabilities.
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Post-acquisition, the combined company will have a broad pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas. It will enhance SCIL’s product portfolio, giving it access to customers and a diversified asset footprint across 19 sites globally. The combined company will be led by Rajesh Rathi and a high performing management team with quality execution skills and technical competency.
The Heubach Group has a 200-year history and became the second largest pigment player in the world after its integration with Clariant in 2022. Heubach had over a billion euros in revenue in FY21 and FY22, with a global footprint especially in Europe, Americas, and the APAC region. The Group faced financial challenges over the past two years due to rising costs, inventory issues, and high interest rates. SCIL’s acquisition of Heubach will address these challenges with a clear turnaround plan.
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First Published: Oct 11 2024 | 7:14 PM IST
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by Hansraj Agrawal | Oct 11, 2024 | Share Market
Last Updated : Oct 11 2024 | 7:31 PM IST
Indoco Remedies has received regulatory status from U.S. Food and Drug Administration (USFDA), for its facilities located at Goa Plant-II & III, L-32,33,34, Verna Industrial Area, Verna, Goa, Goa 403722, India (Facility), following an inspection conducted by USFDA in July 2024.
The USFDA has determined that the inspection classification of this Facility remains as ‘Official Action Indicated’ (OAI).
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The Facility had been inspected by the USFDA in February 2023 and had received an OAI status in May 2023.
Indoco is comprehensively working on the remedial action plan at the Facility which will be completed by Q3 2024.
Indoco had planned to inform USFDA for the inspection readiness post completion of the remedial action. However, USFDA had visited the Facility in July 2024, while the remedial action was still in progress. Hence, the compliance status of the Facility received as ‘OAI’ dated 10th October 2024, remains the same
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First Published: Oct 11 2024 | 7:10 PM IST
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by Hansraj Agrawal | Oct 11, 2024 | Share Market
Last Updated : Oct 11 2024 | 7:16 PM IST
Hi-Tech Pipes announced the successful closure of Rs 500 crore Qualified Institutional Placement (QIP), with oversubscription by marquee institutional investors. The QIP, which opened on 07 October 2024 (post market hours) and closed on 11 October 2024, received bids of over Rs 800 crore. The overwhelming response from marquee qualified institutional investors, demonstrates strong confidence on the Company’s growth prospects.
The QIP attracted a diverse pool of top-tier institutional investors including mutual funds, and renowned foreign institutions and treasuries, reaffirming the market’s belief in Hi-Tech’s ability to navigate industry challenges and capitalise on the growing demand in the ERW (Electric Resistance Welding) steel tubes and pipes segment.
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The QIP attracted leading domestic institutions like Motilal Oswal Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, JM Financial Mutual Fund, LIC Mututal Fund, WhiteOak Mutual Fund, SBI General Insurance. Besides, prominent global institutions also participated in the QIP.
The Company issued 26,996,734 fresh equity shares @ ₹ 185.50 per equity share under QIP, representing a discount of 4.86% to the floor price and 7.39% discount to the last traded price on NSE on October 7, 2024.
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First Published: Oct 11 2024 | 7:07 PM IST
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