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Rajesh Exports Bags Designer Jewellery Order From Germany

Rajesh Exports informed the bourses that it has received order amounting to Rs.942 crore from Germany, on Wednesday. The order for designer range of jewellery is to be completed by August 2019. 

The company will be completing the order from its own manufacturing facility having a total processing capacity of 250 tons of jewellery and gold products per annum. With this order, the company expects to expand its reach in the global market and expects further significant orders for this range of jewellery from the international markets.

Rajesh Exports is engaged in the business of gold and gold products. It manufactures and markets jewellery to consumers across the world. Rajesh Exports processes 35 per cent of gold produced in the world. 

ONGC Videsh Gets FID for Mozambique LNG project 

ONGC Limited’s wholly-owned subsidiary ONGC Videsh Limited has announced that Rovuma Offshore Area 1 consortium, has taken a Final Investment Decision (FID) for the two trains Golfinho/Atum Mozambique LNG Project. The FID denotes that the LNG project will now advance to the construction phase. Mozambique LNG Project will be the first onshore LNG facility in Mozambique consisting of initial two LNG trains with a total capacity of 12.88 million tonnes per annum (MMTPA) supported by the development of the Golfinho/Atum fields located offshore entirely within Area 1. The project has successfully secured in aggregate 11.1 MMTPA of long-term LNG sales which is 86 per cent of the plant's capacity with key LNG buyers in Asia and in Europe. Additionally, the project will have a significant domestic gas component for in-country consumption in Mozambique to help fuel economic development. ONGC Videsh holds 16 per cent interest in the Mozambique Rovuma Area-1 Offshore Project out of which 10 per cent is held directly by ONGC Videsh and another 6 per cent interest is held through its 60 per cent shareholding in 'Beas Rovuma Energy Mozambique Limited' (BREML) while the remaining 40 per cent shares in BREML are held by Oil India Limited (OIL). 

MIDHANI and HAL Partner To Develop Bio Implants 

Mishra Dhatu Nigam Limited (MIDHANI) signs an MoU with Hindustan Antibiotics Limited (HAL). This MoU will provide synergy for quality manufacturing of MIDHANI’s Bio-medical Implants and get access to the pan-India distribution of HAL. This partnership is aimed to gain advantage from the strengths of both the companies and benefit users of Bio-medical products in India. HAL is a Government of India company manufacturing antibiotics. The company first started manufacturing activity with the production of bulk Penicillin antibiotic and then added production of Streptomycin, Gentamycin, Ampicillin, etc. to its wide range of products. Besides it also manufactures Dry Powder injectables and intravenous fluids (IVF). As a company of the Government Organisation, it helps create a balance of price of medicines in the Indian market. Through its association with various hospitals and government organisation, the company can provide MIDHANI access to a large distribution channels. MIDHANI being a Government of India Enterprise is a miniratna under the administrative control of the Ministry of Defence. In the bio-medical technology sector, the company works to develop and manufacture Titanium BioImplants. MIDHANI is compliant with the international standards used for indigenizing pure titanium, titanium alloys and stainless steels. Its bio-implants are well received by various hospitals and orthopaedic surgeons thus creating a wide consumer base.

Piramal Enterprises sells stake in Shriram Transport 



Piramal Enterprises has sold its entire holding in Shriram Transport Finance to third-party investors. Piramal had a direct investment of 9.96 per cent in the fully paid-up share capital of Shriram Transport.

Shriram Group is a conglomerate, which engages in the lending business through Shriram Transport Finance (Commercial Vehicle Finance) and Shriram City Union Finance (Consumer and MSME Finance). The Group has also entered into metallurgy by setting up a unit in Odisha. Piramal Enterprises is a company of Piramal Group having active business operations in healthcare, life sciences, information management and financial services.

Originally Piramal owned 20 per cent in Shriram Capital and 10 per cent each in Shriram Transport Finance and Shriram City Union. Post the failed attempt of Shriram Group’s merger with IDFC Bank, Piramal had plans to exit from all three of these businesses. As of March 2019, Piramal Enterprises had held around Rs.2.26 crore shares amounting to 9.96 per cent stake in Shriram Transport Finance.

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