Key Stock Updates, 14 March 2024

New Orders & Projects:

* Adani Green Energy secured power purchase agreements with SECI for supply of 534 MW of solar power projects, expanding its renewable energy portfolio.

* KEC International Ltd. announced new orders worth Rs. 2,257 crores, including projects in Transmission & Distribution, Oil & Gas Pipelines, Civil, and Cables segments.

* Cyient secured a multi-year services agreement with Airbus for cabin and cargo engineering.

* KEC International secured new orders worth Rs 2,257 crore, including international projects for pipeline laying.

* Azad Engineering Limited has signed a 7-year strategic contract with the Steam Power business of GE Vernova for the supply of high-complex rotating airfoils for Nuclear, Industrial, and Thermal power industry, valued at around USD 35 million.

* Akash Infra-Projects Ltd. received a work order from Sardar Vallabhbhai Patel Jilla Panchayat Office, Mehsana, worth Rs. 58.59 crores for road construction and maintenance.

* The Indian Hume Pipe Company Limited, in collaboration with AMR India Limited and Shoda Constructions Private Limited, has been awarded a water supply and sewerage project worth Rs. 1137.77 Crores by the Government of Telangana under AMRUT 2.0.

* RVNL-SALASAR JV awarded contract by Madhya Pradesh Power Transmission Co. Ltd. for construction of transmission lines in Eastern MP. Total project cost: Rs. 173.98 crores.

* RVNL receives Letter of Award (LoA) from M.P. Paschim Kshetra Vidyut Vitran Company Ltd. for various electrical infrastructure projects in Jhabua O&M Division.

* Larsen & Toubro Limited's Buildings & Factories division secures a significant order from AIIMS Madurai, Tamil Nadu, for constructing a hospital and associated facilities. Total built-up area: 2.1 mn Sq. ft.

* Salasar Techno Engineering Ltd. secures contracts worth Rs.1,033.78 crores from TANGEDCO for projects in Tamil Nadu.

Partnerships and Acquisitions:

* Tata Motors inked a MoU with the Government of Tamil Nadu for establishing a vehicle manufacturing facility, involving an investment of Rs 9,000 crore and potential creation of 5,000 jobs.

* Power Mech Projects incorporated a wholly-owned subsidiary, PMTS Private Limited, to develop technologies for construction and other sectors.

* Sanofi India partnered with Emcure Pharmaceuticals for distribution and promotion of cardiovascular products in India.

Business Operations:

* Zydus launched Olaparib under the brand name IBYRA, targeting specific genetic mutations in certain cancers for more effective treatment.

* Cholamandalam Investment and Finance Company purchased land from DLF IT Offices in Chennai for Rs 735 crore.

* South Indian Bank suspended onboarding fresh customers for co-branded credit cards until regulatory compliance is met.

Key Deals:

Apl Apollo Tubes Ltd: Principal Global Investors Collective Investment Trust sells ₹245.04Cr

Apl Apollo Tubes Ltd: New World Fund Inc buys ₹446.61Cr

IPOs:

* Gopal Snacks IPO listing.

* Shree Karni Fabcom IPO listing.