Power Grid Corporation of India said that its board approved implementation of 500MVAr Thyristor Controlled Reactor at Kurukshetra 400kV bus at an estimated cost of Rs 267.33 crore with commissioning schedule of 30 months from the date of investment approval. The board also approved Reliable Communication Scheme under Central Sector for Western Region at an estimated cost of Rs 112.12 crore with commissioning schedule of 36 months from the date of investment approval. The announcement was made after market hours yesterday, 3 January 2019.
Torrent Power said it has emerged as winner of the competitive bidding process conducted by Maharashtra State Electricity Distribution Company Limited (MSEDCL) for appointment of input based distribution franchisee for distribution of electricity in Shil, Mumbra & Kalwa sub-divisions under Thane Urban Circle, for a period of 20 years. The announcement was made after market hours yesterday, 3 January 2019.
NHPC announced that the shutdown of Parbati-III (520 MW) power station in Himachal Pradesh will cause tentative loss of 35.1 million units (MUs) in production of electricity and 6.5% in Plant Availability Factor (PAF). The tentative financial loss based on the interim order determined by Central Electricity Regulatory Commission (CERC) will be Rs 24.04 crore. The tentative financial loss based on final tariff determination by CERC will be Rs 30.14 crore. On 20 December 2018, NHPC announced complete shutdown of Parbati-111 (520 MW) Power Station in Himachal Pradesh. The announcement was made after market hours yesterday, 3 January 2019.
HDFC announced that during the quarter ended 31 December 2018, it assigned loans amounting to Rs 6959 crore compared to nil in the corresponding quarter of the previous year. Individual loans sold in the preceding 12 months amounted to Rs 22,732 crore compared to Rs 12,078 crore in the corresponding period of the previous year.
Income from dividend for the quarter ended 31 December 2018 was Rs 2 crore compared to Rs 151 crore in the corresponding quarter of the previous year (which was inclusive of Rs 141 crore from HDFC Standard Life Insurance Company).
During the quarter ended 31 December 2018, there were no proceeds on account of sale of investments in subsidiary/associate companies. In the corresponding quarter of the previous year, HDFC earned a gross income of Rs 5257 crore from the stake sale in the initial public offer of HDFC Standard Life Insurance Company. The announcement was made after market hours yesterday, 3 January 2019.
Nestle India announced that the Supreme Court quashed interim orders passed by National Consumer Disputes Redressal Commission (NCDRC) in Maggi matter. Nestle India had challenged two interim orders of NCDRC before the Supreme Court in 2015. As per directions of Supreme Court, samples were sent to Central Food Technological Research Institute (CFTRI) and the analysis results showed that samples were compliant for Lead and other relevant parameters.
The appeal filed by Nestle India against the two interim orders passed by NCDRC came up for hearing on 3 January 2019. As per the lawyers who appeared for Nestle, Supreme court in view of reports received from CFTRI, has agreed with Nestle's contention and has set aside both the interim orders passed by NCDRC which were challenged by Nestle. The Supreme Court has also directed that the reports received from CFTRI will be the basis for proceedings before NCDRC. Full details will be known only after receipt of the order by the company. The announcement was made after market hours yesterday, 3 January 2019.
Sun Pharmaceutical Industries (Sun Pharma) said that its arm completed the acquisition of 100% stake in Japan-based Pola Pharma. The announcement was made after market hours yesterday, 3 January 2019.
On 26 November 2018, Sun Pharma announced that it entered into a definitive agreement to acquire Pola Pharma Inc., a Japanese pharmaceutical company engaged in research and development, manufacture, sale and distribution of branded and generic products in Japan. The portfolio of Pola Pharma primarily comprises dermatology products. The announcement was made after market hours yesterday, 3 January 2019.
Vascon Engineers said it concluded two transactions worth Rs 50 crore. The first transaction comprised sale of amenity plot along with school building to Infraschool Services Guragon for a total consideration of Rs 36.50 crore. The second transaction involved sale of land situated at Village Balewadi, Baner along with all other joint venture partners to Keywest Realty for a consideration of Rs 100 crore. Vascon's share in this sale is Rs 13.10 crore. The announcement was made after market hours yesterday, 3 January 2019.
Vascon Engineers' managing director, Siddharth Vasudevan, said that the proceeds of these non-core asset sale transactions will ensure adequate liquidity for the firm's operations in line with the company strategy.