Trackpad
BHEL Bags Order For Electric Buses
Bharat Heavy Electricals Limited (BHEL) has won a prestigious order for the supply of state-of-the-art electric buses along with charging infrastructure, for Gorakhpur (Uttar Pradesh). The order has been placed by Urban Transport Directorate (UTD), Lucknow. These low floor and disabled-friendly electric buses will be deployed by UTD at Gorakhpur airport.
This is in-line with the company's transformation initiative of expanding into new markets. Further, as part of the transformation journey, BHEL is consolidating and reinvigorating the initiatives taken in defence & aerospace, water, e-mobility, batteries, renewables and transportation business.
During December quarter of FY20, an order inflow came in at Rs. 5,950 crore, down by 22.7 per cent YoY. The company’s order book as on December 31, 2019, stood at Rs. 1,07,654 crore, of which executable order book is ~ Rs. 87,495 crore. The current order book has translated book to bill ratio of 3.5x considering its FY19 consolidated revenue.
Last month, BHEL had signed an MoU with joint-stock company Rosoboronexport, Russia with an aim to cooperate and undertake joint projects and operations for Defence System.
Glenmark Gets USFDA Approval For Dapagliflozin Tablets
Glenmark Pharmaceuticals Inc, USA received tentative approval from United States Food & Drug Administration (USFDA) for Dapagliflozin tablets, 5 mg and 10 mg, the generic version of Farxiga tablets, 5 mg and 10 mg, of AstraZeneca AB. According to IQVIATM sales data for the 12-month period ending January 2020, the Farxiga tablets, 5 mg and 10 mg achieved annual sales of approximately $1.8 billion.
Dapagliflozin is used along with diet and exercise and sometimes with other medications, to lower blood sugar levels in patients with type 2 diabetes (a condition in which blood sugar is too high as the body does not produce or use insulin normally). It lowers blood sugar by causing the kidneys to get rid of more glucose.
Glenmark’s current portfolio consists of 165 products authorised for distribution in US market place and 45 ANDA’s pending approval with USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.
Tata Power Scales Up Rooftop Solar Service To 90 Cities
The country's largest integrated utility company, Tata Power, announced that it was rolling out its rooftop solar offerings, which it had launched back in September 2018, to 90 cities in the country. The big rollout comes at a time when consumers across all major categories such as commercial, industrial, residential and public sector are widely adopting solar energy as a reliable solution for their energy needs due to its tremendous potential to save cost. The rising popularity of rooftop solar (RTS) within the Indian power sector is also an outcome of the increasing share of renewable or green energy in the country. So far, Tata Power has installed over 375+ MW of rooftop projects, including in industrialised states like Gujarat, Maharashtra and Tamil Nadu.
Speaking on the announcement, Praveer Sinha, CEO and MD of Tata Power said that through the increased adoption of RTS by consumers, the company is confident that its solar rooftop solutions will play a big role in improving energy access across the country, in both urban and rural parts.Tata Power Company Limited generates and supplies electricity. It constructs and operates independent power plants as well as specialises in transmission and distribution of electricity.
KEC Receive Orders Worth Rs. 1,047 Crore Across Various Businesses
A part of RPG Group, KEC International Limited, informed the bourses that the company has received new orders amounting to Rs. 1,047 crore across its various businesses. Under its transmission & distribution business, it has received orders worth Rs. 669 crore for T&D projects in India, SAARC, Middle East and America. Under its civil business, it has received orders worth Rs. 153 crore for defence (setting up a data centre) and residential projects in India. Under solar and cable business, it has received orders worth Rs. 104 crore and Rs. 121 crore, respectively.
The company’s order book as on December 31, 2019, stood at Rs. 22,011 crore. Company’s order book mix comprises of T&D-54.6 per cent, civil-11.3 per cent, cables-1.9 per cent, railways-31.1 per cent and smart infra-1.1 per cent.
GHCL To Demerge Its Textile Business
The board of directors of GHCL Limited approved a proposal to demerge its textile business, pursuant to a scheme of arrangement between GHCL Limited and the resulting company.
The board has clarified that both its businesses i.e. inorganic chemical business and textile business will be separately listed companies after the approval of the scheme of arrangement by NCLT. It is further clarified that textiles business will not be a subsidiary of inorganic chemical business after the demerger of the company.
The shareholders of the demerged company (i.e. GHCL Limited) will get one equity share of the resulting company i.e. Textile Company, which will be a separately listed company. The new shares of the resulting company will be issued and allotted to the shareholders of GHCL as a consideration under the scheme, which would be applied for listing on BSE and NSE, where the existing equity shares of the company are already listed.
Dilip Buildcon Gets Loa For Chhattisgarh Highway Project
Infrastructure developer, Dilip Buildcon informed the bourses that it has received a letter of acceptance (LoA) from National Highways Authority of India (NHAI) for a new HAM project in Chhattisgarh. This is a four-lane project to construct 39.30 km length highway in the State of Chhattisgarh under Bharatmala Pariyojana project on hybrid annuity model (HAM). The cost for the said project is Rs. 860.50 crore and the completion period is of 24 months.
As on December 31, 2019, the company’s order book stood strong at Rs. 21,205.3 crore. Of this order book, the road segment contributes ~77.14 per cent, followed by mining and irrigation, which accounts for 19.34 per cent and 6.46 per cent, respectively.
Alphageo Bags Order For Seismic Data Acquisition
Alphageo India announced that it had bagged Rs. 76.67 crore order from Oil India. The company had acquired Notification of Award (NOA) for 2D and 3D seismic data acquisition and processing in Open Acreage Licensing Policy (OALP) areas of Mahanadi Basin (Odisha).
The total orders on hand for the quarter ended December 2019 was reported at Rs. 160 crore. Since then, the company has acquired orders worth Rs. 501.24 crore. Earlier this month, the company had announced an interim dividend of Rs. 8 each per equity share of Rs. 10 for the financial year 2019-20, which is 80 per cent on the nominal value of the equity share. Alphageo (India) Limited is a seismic survey service provider and is engaged in seismic survey data acquisition, processing and interpretation services. It provides two-dimensional (2D) and three-dimensional (3D) seismic data acquisition, processing and interpretation services for oil exploration and production entities.