Siemens in focus after signing MoU with IL&FS, GIFTCL

Shares of Siemens will be in focus. Infrastructure Leasing & Financial Services (IL&FS) and Gujarat International Finance Tec-City Company (GIFTCL) signed a Memorandum of Understanding (MoU) with Siemens to develop Smart Mobility Solutions for Gujarat International Finance Tec-City (GIFT), Gujarat, 50:50 joint venture of Gujarat Urban Development Company and IL&FS, one of India's pioneering infrastructure development companies. The announcement was made after market hours yesterday, 6 October 2015.

Siemens said that the company has offered to develop Smart Mobility Solutions for GIFT. The company will collaborate with IL&FS to study, develop, and, design state-of-the-art, smart, city-level Mobility solutions for individuals, groups as well as moving masses of people both within the GIFT city and between other nodes, Siemens said.

Aditya Birla Nuvo will be in focus. The Aditya Birla Group announced a partnership with The Abraaj Group (Abraaj), a leading investor operating in global growth markets, to build a large scale renewable energy platform focused on developing utility scale solar power plants in India. The Aditya Birla Group will invest in the platform through Aditya Birla Nuvo (ABNL) and Abraaj will invest through one of its affiliates. ABNL has entered into a definitive share subscription and shareholders agreement (SSA) with an affiliate of Abraaj. In accordance with the SSA, subject to the customary closing conditions and subject to the requisite approvals, ABNL and the Abraaj affiliate will hold 51% and 49% of the paid up share capital respectively, in Aditya Birla Renewables, currently a wholly-owned subsidiary of ABNL. Aditya Birla Renewables, the solar power platform, will bid for projects tendered at national and state auctions, with the intent to develop and operate utility-scale solar power plants that can provide clean and cost-effective electricity to the national grids across several key states in India. The announcement was made before trading hours today, 7 October 2015.

Sobha in its quarterly update said that new sales rose by 2.04% to 8.50 lakh square feet in Q2 September 2015 over Q2 September 2014.

HMT will be in focus. With reference to the media reports titled Fraunhofer-Gesellschaft signs MoUs with govt, HMT, HMT after market hours yesterday, 6 October 2015 clarified that HMT has signed an MoU with Fraunhofer yesterday, 6 October 2015 pertaining to technology machines for subsidiary HMT Machine Tools.

Phoenix Mills said that the company has acquired entire equity stake held by MTX Hotels, Amitabh Tayal and Priyank Tayal in Gangetic Hotels (GHPL) aggregating to 19.38% of GHPL's equity share capital yesterday, 6 October 2015. Accordingly, subsequent to the acquisition, GHPL has become a subsidiary of the company with effect from yesterday, 6 October 2015, Phoenix Mills said. The announcement was made after market hours yesterday, 6 October 2015.

Alphageo (India) said that a meeting of the board of directors of the company will be held on 13 October 2015, to consider, decide and approve, issue of shares or warrants on preferential basis to promoters and promoter group and persons other than promoters. The announcement was made after market hours yesterday, 6 October 2015.

Powered by Capital Market - Live News