Coal India in focus after signing agreement with Solar Energy Corporation

Coal India announced signing two agreements with Solar Energy Corporation of India for implementation of solar power project in Madhya Pradesh. Coal India and Solar Energy Corporation of India (SECI) signed two agreements yesterday, 28 June 2016, for implementation of 200 megawatts (MW) solar power projects in Madhya Pradesh for the beneficial utilisation of solar power by Northern Coalfields (NCL) 100 and South Eastern Coalfields (SECL) at an estimated cost of Rs 650 crore. NCL and SECL are subsidiaries of Coal India. The announcement was made after market hours yesterday, 29 June 2016.

Metal and mining stocks will be in focus after the Union Cabinet yesterday, 29 June 2016, approved the National Mineral Exploration Policy (NMEP). The NMEP primarily aims at accelerating the exploration activity in the country through enhanced participation of the private sector.

Minda Industries' board of directors considered and approved a 2-for-1 stock split and the acquisition of Panasonic Minda Storage Batteries India. The announcement was made after market hours yesterday, 29 June 2016.

Majesco and iSign Solutions Inc. (iSIGN) announced that iSIGN has joined Majesco's partner ecosystem. Through this strategic partnership, Majesco will use iSIGN's electronic signature solution to deliver Majesco's solutions to its insurance customers enhancing their digital footprint. The announcement was made after market hours yesterday, 29 June 2016.

LT Foods said that the company has incorporated a subsidiary named as LT Foods International in United Kingdom for strengthening its presence in Europe. Further, the company is evaluating the option to set up a facility in Europe to more effectively service customers in International markets. The announcement was made after market hours yesterday, 29 June 2016.

Gati Kausar, the temperature controlled supply chain solutions vertical of Gati, announced the launch of its first temperature controlled warehousing facility near Delhi, on National Highway 8. It is a state-of-the-art facility developed with superior technology and high quality design elements. The new facility is spread over 4 acres, and currently has a capacity of more than 5000 pallets. The announcement was made after market hours yesterday, 29 June 2016.

Sagar Cements said that the company's board of directors gave its in principle approval for acquisition of entire assets in the grinding unit of 1.81 lakh tons per annum capacity in Bayyavaram, Andhra Pradesh, owned by Toshali Cements for around Rs 60 crore. The acquisition will enable Sagar Cements to save its logistics cost and to introduce slag cement to cater markets in Visakhapatnam, Vizianagaram, Srikakulam and parts of Orissa.

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