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Inox Wind bags an order

Inox Wind has received an order from ReNew Power Ltd under the SECI - 2 regime for 38MW wind power project to be developed at Anjar in Gujarat. The mentioned project is expected to be commissioned by January 2020. The order consists of supply of 19 units of Inox Wind’s 2MW 113 metre rotor diameter turbine combined with 92 metre hub height. The DF 113/92 model has specifically been designed for low wind regime (low wind power density sites) typical for the Indian market. ReNew Power is also an existing customer of the company with an installed capacity of 236MW supplied by Inox Wind which is spread across multiple wind rich states in India.

Inox Wind is a leading wind energy solutions provider servicing IPPs, utilities, PSUs and corporate investors. The company has three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh respectively. The plants located in Ahmedabad and Barwani manufacture Blades & Tubular Towers while the plant located in Una manufactures Hubs & Nacelles. Inox Wind’s current manufacturing capacity stands at 1,600MW per annum.



Strides Pharma gets USFDA nod for Ranitidine

The USFDA issued an update containing the latest information of Ranitidine. Concluding from the results provided by the USFDA, Strides Pharma’s Ranitidine Tablets 300 mg (Rx) are within acceptable limits for NDMA of 96 nanograms per day or 0.32 ppm.

Recently, the USFDA had asked various companies to recall Ranitidine medicines as a few were feared to have a contamination with high levels of probable cancer causing N-Nitrosodimethylamine (NDMA). As the USFDA tested numerous Ranitidine products in the market over the last few months, it released a summary of results they have received till now. In the statement, USFDA indicated that if NDMA levels above the acceptable limits of 96 nanograms per day or 0.32 ppm are found by the agency or the manufacturers, companies should recall Ranitidine voluntarily. Several batches of manufacturers other than Strides Pharma, which are above the required limit, will be asked for a voluntary recall. Strides Pharma also stated that in the coming days, it will provide additional updates including potential recommencement of the distribution of Ranitidine Rx by Strides Pharma based on available test results.



KEC International receives order worth Rs.1,806 crore

KEC International informed the bourses that it has secured orders worth Rs.1,806 crore. The company won these orders under Railways, Transmission & Distribution and Civil & Cables verticals. The company’s Railway division secured an order worth Rs.1,303 crore, entailing overhead electrification of railway lines and associated civil works and construction of road over bridges, roadbeds, and major and minor bridges.

The T&D business, Civil division and Cables vertical won orders worth Rs.283 crore, Rs.157 crore and Rs.63 crore respectively. As of Q1FY20, the company’s order book stood at Rs.22,520 crore (including L1 of Rs.3,500 crore) which gives a book-to-bill of 2x on FY19 revenue, thereby giving revenue visibility for the next two years.

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Railways, Solar, Civil, Smart Infrastructure and Cables.

BHEL receives Rs.200 crore order

Bharat Heavy Electricals Ltd (BHEL) won an order for renovation, modernisation and uprating (RM&U) of the Chilla Hydro Electric Plant (HEP) from Uttarakhand Jal Vidyut Nigam Ltd (UJVNL). The project is valued at over Rs.200 crore.

The order is for RM&U of the 4x36 MW Chilla HEP located in the Pauri Garhwal district of Uttarakhand. The plant consists of four units of 36MW each, which are to be uprated to 39MW each. The upgradation of these units will result in increased output capacity, additional generation and efficiency improvement, better plant availability and life extension of equipment. BHEL will be responsible to design, engineering, manufacture, supply, dismantling, erection, testing and commissioning of critical parts of turbines, generators, governors, controls and instrumentation, protection and Balance of Plant (BoP). Most of the equipment for this contract is planned to be manufactured and supplied by BHEL's manufacturing plants located at Bhopal, Jhansi, Rudrapur and Bengaluru. BHEL recently secured various other orders as well.



Promoters sell 4 per cent stake in Jyothy Labs

Promoters of Jyothy Labs sold 4 per cent of the company's shares worth Rs.260 crore in a block deal. Promoters had invested in the company during Henkel's acquisition.

The company further added that it believes to become debt-free by March 2021, as it intends to pay-off the debt against the shares by then. Thus, the entire amount will be used to pay off the debt. Post this block deal, 6 per cent of the promoters’ stake will be pledged shares. Paying off the rest with this transaction, promoters’ stake holding is expected to come down from 67.1 per cent to 63 per cent.

On the financial front, for the first quarter, the volume growth was around 5 per cent and for the second quarter, the volume growth increased to 9 per cent. Ullas Kamath, Jt. MD, Jyothy Labs, commented that the quarter by quarter growth has been improving for the company and this trend is expected to continue in the future as well. For the coming quarters, a double-digit growth is expected in its household insecticide business. By 2021, the company aims at leveraging its balance sheet for inorganic growth by making the company and its promoters debt free. 



Dilip Buildcon bags Airport construction project in Gujarat

Dilip Buildcon Limited has been declared the L-1 bidder by the Airport Authority of lndia for the construction of a new greenfield airport at Hirasar, Rajkot, Gujarat. The project includes designing, engineering, procurement, and the construction of runway, basic strips, turning Pads, taxiways, parallel taxi track (PTT), apron, perimeter and other roads, earth work in cut/fill and grading, drainage system, related retaining structures, fire station, MT pool, fire pit, cool pit, ARP and associated approaches, supply, installation, testing and commissioning of airfield and ground lighting system, visual aids for navigation, and bird hazard reduction system. The project is worth Rs.570.06 crores and is to be completed within 30 months.

Last week, the company had been declared L-1 bidder by the U.P Expressways Industrial Development Authority in the state of Uttar Pradesh. The bid project cost was Rs.1,362.06 crores and to be completed within 36 months. Dilip Buildcon Limited is an Indian company, engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The company undertakes contracts from various governments and other parties and special purpose vehicles promoted by the Company.