Stocks in the news
Mukand: Mukand completed the transfer of approximately 55 acres of surplus leasehold land at Thane to NTT Global Data Centers Nav2 fo Rs 801.51 crore which will be utilised for debt repayment. The company will complete the second and final tranche of sale of shares approximately Rs 500 crore in the joint venture, Mukand Sumi Special Steel to Jamnalal Sons in April. As a result, the total finance cost have reduced substantially and is expected to be further brought down in the coming years.
Minda Industries: The board of Minda Industries, the flagship company of UNO Minda Group, approved the expansion plans in its two businesses i.e. Four Wheel (4W) Lighting and 4W Alloy Wheel, considering the improved market scenario and increased demand, wherein the said businesses have been operating at near capacity.
Adani Transmission: Adani Transmission has signed definitive agreements with Essel Infraprojects for acquisition of Warora-Kurnool Transmission (WKTL). As per the agreement, WKTL will develop, operate, and maintain transmission lines aggregating to around 1,750 ckt km. The two significant, 765 kV inter-state transmission lines link Warora to Warangal and Chilakaluripeta to Kurnool via Hyderabad, with a new 765/400 kV sub-station at Warangal, which shall be built & operated as a part of the agreement.
Vascon Engineers: Vascon Engineers has received letter of acceptance amounting to Rs 515.63 crore from Uttar Pradesh Public Works Department for establishment of new medical colleges. The work has to be completed within 18 months from the date of receipt of letter of acceptance.
Lumax Industries: Lumax Industries approved capital expenditure amounting up to Rs 80 crore for setting up of new manufacturing unit(s) in Sanand, Gujarat to cater to the orders received from MG Motors and other customers. The total capex will be funded by mix of debt and internal accruals and peak annualized turnover is expected to be approximately Rs 150 crore post commissioning. The project is expected to be operational by Q3 FY22.
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