• Torrent Power up as shareholders approve merger
Shares of Torrent Power gained over 2% at Rs148 on BSE in otherwise weak markets as shareholders approved the proposed merger of two group companies with itself.
The stock opened at Rs148 and touched a high of Rs153 so far on both the stock exchanges. The shareholders of the company, at the court convened meeting held on April 30, 2015, approved the merger of Torrent Energy Ltd and Torrent Cables Ltd, the company said in a release after market hours on Wednesday.
• Engineers India gains after Abu Dhabi office wins order
Engineers India said that its Abu Dhabi office has till date in the current year secured orders worth Rs150 crore from clients in Middle East. These orders are from the oil and gas companies as well as through EPC contractors for providing engineering services. The company has expanded its office in Abu Dhabi to cater to its clients in the region. The office has state-of-art facilities and has been well appreciated by the clients, Engineers India said in a statement.
• TVS Motors gains on securing new patent
Shares of TVS Motor Company rose over 2% to Rs229.15 on the Bombay Stock Exchange (BSE) after the automobile manufacturer bagged a patent for technology related to three wheeler engines.The stock opened at Rs225.25 on the BSE and touched a high of Rs230.90.The patent office in India awarded the patent, which relates to a cooling system for the rear mounted liquid cooled engine in three wheelers.
• Glenmark Pharma gains after USFDA nod for a medicine
Glenmark Pharmaceuticals rose nearly 2%, touching to Rs872.2, after Glenmark Pharmaceuticals Inc., USA has been granted final approval by the USFDA for Calcipotriene Cream, 0.005%. Glenmark Pharmaceuticals said Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration ( USFDA) for Calcipotriene Cream, 0.005%, the therapeutic equivalent of Dovonex Cream, 0.005% of Leo Pharma A/S. Glenmark plans to commence shipping of Calcipotriene Cream, 0.005% immediately.
• BEML gains on Delhi Metro order worth Rs645 crore
Shares of BEML gained 2% to Rs1243 on NSE as the company has bagged an order worth Rs645 crore from Delhi Metro Rail Corporation (DMRC) for design, manufacture, supply, testing and commissioning of 74 nos broad guage metro cars for their RS-13 project (Rolling Stock) – Positive read thru for BEML.
• Bharat Forge arm and L&T in run for Rs15,000 gun orders
Bharat Forge subsidiary and L&T are only two in run for Rs15,000 gun orders – Positive for Bharat Forge and L&T . L&T and Kalyani Strategic Systems Ltd (KSSL), a Bharat Forge subsidiary are the only two Indian companies currently in contention for the towed artillery gun pie that is valued at around Rs15,000 crore.
• Bajaj Electricals bags new order from Odisha Power
Bajaj Electricals has announced that the Engineering & Project Business Unit of the Company has bagged 3 new Orders from Odisha Power Transmission Corporation Ltd (OPTCL) worth Rs84.54 crore.
• Government approves Rs 4,721 cr road projects
Government approves Rs4,721 cr road projects in Madhya Pradesh, Telangana – Positive for Road Developers (IRB Infrastructure, IL&FS Transportation, Ashoka Buildcon, Sadbhav Engineering among others)
The government today approved Rs4,720.92 crore highways projects in Madhya Pradesh and Telangana under NHDP. Development of the four laning of the Guna-Biaora and Biaora-Dewas section of National Highway - 3 in Madhya Pradesh with an estimate cost of Rs2,815.69 crore on BOT basis.
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