Bhel in focus after winning contract

Bharat Heavy Electricals (Bhel) announced after market hours on Wednesday, 8 October 2014, that it has bagged a contract for setting up a 1,320 megawatts (MW) supercritical thermal power project on engineering, procurement & construction (EPC) basis from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) valued at around Rs 7800 crore. The order for setting up a 2x660 MW coal-fired supercritical thermal power project at Ennore special economic zone (SEZ) in Tamil Nadu. For this tender, Bhel has partnered with Power Finance Corporation (PFC), another PSU, by syndicating the financing package in the current competitive environment.

DCB Bank announced after market hours on Wednesday, 8 October 2014, that in respect of the qualified institutional placement (QIP), the bank's Capital Raising Committee of the Board (CRC) at its meeting held on 8 October 2014, inter alia, has approved the closure of the QIP on 8 October 2014. The CRC has approved the issue price of Rs 82.15 per share which is at a discount of Rs 4.30 per share, to the floor price of Rs 86.45 per share, for the shares to be allotted to eligible qualified institutional buyers in the QIP.

Ahluwalia Contracts India said after market hours on Wednesday, 8 October 2014, that the company has secured new orders aggregating Rs 178 crore for construction of housing project including finishing and electrical works. New aggregating order in first half of the financial year ending 31 March 2015 (FY 2015) is Rs 792.85 crore. Unexecuted order book as on 30 September 2014 is Rs 3350 crore.

Ramco Systems said after market hours on Wednesday, 8 October 2014, that the company and its subsidiaries won three orders amounting over $5 million. The company had bagged an order, for providing Ramco's Aviation solution and related services, from a leading provider of aerial services headquartered in the UK, for an order value of above $3 million for a period of five years. The company's subsidiary, Ramco Systems Corporation, USA, had secured an order, for providing Ramco's Aviation Solution and HCM and related services, from a leading provider of aviation solutions in the USA for Government & commercial enterprises globally, for an order value of above $1 million for a period of about five years. The company's subsidiary, Ramco Systems LLC, Dubai, had got an order from a Fortune 500 company in Dubai, for managing the payroll services for their employees spread across ten countries in the Middle East Region, for an order value of above $1 million for a period of three years.

Sunflag Iron & Steel Company said after market hours on Wednesday, 8 October 2014, that as per Supreme Court's order on coal allocation case, Belgaon Coal block (operative coal mines) which was allotted to the company for captive usage stands cancelled, effective 31 March 2015. The Supreme Court has also directed that an additional levy of Rs 295 per metric tonne of coal extracted since commissioning of the mines be paid by all allocates, including the company by 31 December 2014. The Supreme Court of India vide its judgment dated 24 September 2014 has passed an order by which allotment of all coal blocks (during the period from 1993 to 2012) except four (4) Coal blocks stands cancelled.

In connection with the above, the company has received a demand notice dated 4 October 2014, received on 7 October 2014, from the office of the Collector, Chandrapur for depositing of Rs 28.06 crore as additional levy (@ Rs 295 per MT) before 31 December 2014 for the period December, 2007 until 24 September 2014, i.e., the date of the order of the Supreme Court of India. For the period commencing on 25 September 2014 until the effective date of cancellation, the additional levy (@ Rs 295 per MT) will be payable along with the royalties paid by the company to the Government of India, company said in a statement.

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