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30-Jan2018

Reliance Infra, HCL Technologies and Welspun Corp to see some action today

Reliance Infrastructure (RInfra) has received the Letter of Award (LOA) from the National Highways Authority of India (NHAI) for the six-laning of Aurangabad to Bihar–Jharkhand border (Chordaha) section of NH-2 in Bihar after it emerged as the lowest bidder for the development of the project on engineering, procurement and construction (EPC) basis. The project for six-laning km. 180.000 to km. 249.525 on NH-2 in Bihar is under the Government of India's flagship National Highway Development Program (phase V) and is funded by NHAI. The scope of work includes design, engineering, procurement and construction of six-lane highway and associated bridges with paved shoulders. The overall schedule for project is 24 months from the appointed date.

HCL Technologies (HCL) has bagged a five-year IT infrastructure services and application management contract with Cadent, the UK's largest gas distribution network. The ground-breaking 'cloud first' multi-service deal will see HCL provide integrated public cloud hosting and SAP and Application Maintenance Services, including the migration of a significant applications portfolio to Amazon Web Services (AWS) public cloud. In addition, HCL will provide IT Service Management, Service Desk and Managed Workplace Services.

Welspun Corp has bagged additional orders for supply of 232K MTs pipes, including a large order, since our last disclosure. With these additions, the company has current order book of 1,279K MTs valued at Rs 8,200 crore. Recently, the company had bagged orders including a large oil & gas order for supply of 124 K MTs pipes.

Sibar Autoparts has received its first R&D Trial order for NI-SIC plated cylinder block from Indian Two-wheeler Company - TVS Motor Company for 2 models of cylinder blocks. Earlier, the company had received LOI from AVTEC for Exports Norton Motor cycles, UK. The NI-SIC cylinder blocks are better in emissions norms, life, performance and have substantial (up to 30%) fuel efficiency over present Traditional cylinder blocks.

Ester Industries has entered into a long term agreement with Shaw Industries Group Inc, USA, a wholly owned subsidiary of Berkshire Hatha way, Inc to supply circa 2,500 tonnes per year of its stain resistant Master batch MB-03. The total size of this single order is estimated to be around Rs 90 crore per year which is more than double the Company's FY2017 Speciality Polymer revenues which amounted to Rs 43 crore. The agreement is open ended with the first purchase order received and shipment slated to commence in February 2018.

Karnataka Bank has opened two new branches in state of Karnataka and Andhra Pradesh. The Bank has opened one branch each at Dakshina Kannada District and Ananthapur District on January 29, 2018. Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.




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