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Overall view of all the recent market developments which will help in your investment decisions

HCL Tech, UltraTech Cement, Sunteck Realty, Anupam Rasayan in spotlight

03-Apr-24 08:53 Hrs IST

HCL Technologies: HCL Investments UK Limited, a company incorporated in the UK and a step-down wholly owned subsidiary of the company has entered into a Memorandum of Understanding with its Joint Venture (JV) partner, State Street International Holdings, a US corporation, pursuant to which HCL UK would divest its entire 49% equity stake in the JV pursuant to the call option exercised by State Street in accordance with the agreement that was entered into between the parties at the time of the formation of the JV.

UltraTech Cement: The company informed about the commissioning of two greenfield capacities - 2.70 mtpa cement grinding unit at Karur, Tamil Nadu and 2.70 mtpa integrated cement plant at Kukurdih, Chhattisgarh, taking the company?s total cement capacity to 151.6 mtpa.

Sunteck Realty: The company is expanding its annuity income business of its commercial portfolio as it enters a long term understanding/ agreement of its second premium commercial building at BKC Junction, Sunteck Icon, to Bennett, Coleman & Co Ltd. The built‐up area of Sunteck Icon is approximately 2 lakh square feet with an approximate rental of Rs. 300 per Sq. Ft. per month on carpet area basis.

Sona BLW Precision Forgings: The company has received certification for its second hub wheel motor for electric two-wheelers under the Production-Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India (PLI-Auto) from the Ministry of Heavy Industries on 2nd April 2024 for availing the benefits/incentive under PLI Scheme.

GE T&D India: GE T&D India said it has received a letter from General Electric Company (GEC), the ultimate holding company, which stated that General Electric Company (GEC) had made a global announcement with respect to the intended split of GEC into GE Aerospace & GE Vernova. Consequent, to the same the energy business of GEC will be spun off under GE Vernova Inc. with effect from 2 April 2024 (Spin-off).

Anupam Rasayan: Anupam Rasayan has signed Letter of Intent worth revenue of about $90 million (Rs 743 crore) over next 7 years with one of the leading Japanese company to supply two advance intermediates using fluorination chemistry.

ESAF Small Finance Bank: The bank has operationalised the Authorised Dealer Category 1 Licence (Foreign Exchange Operations) with effect from 2 April 2024.