Sunteck Realty, Bajaj Finserv, Rail Vikas Nigam, Tata Steel in focus

Sunteck Realty: The Mumbai-based luxury real estate developer has leased out approx. 2 lakh square feet of built-up area of its premium commercial building Sunteck BKC51 situated off Bandra Kurla Complex (BKC) to Upgrad Education for a lease term of 29 years. The total revenue generated from the project will amount close to Rs 2,000 crore over the entire lease tenure. The project is at near completion stage and the possession is to be completed by June 2023.

Bajaj Finserv: The company has received a licence from market regulator Sebi to start a mutual fund business. The company will soon offer a range of mutual fund products including equity, debt, and hybrid funds, both in the active and passive segments, to investors.

Rail Vikas Nigam: The company emerged as the Lowest Bidder (L1) for manufacturing cum maintenance of Vande Bharat Trainsets including up-gradation of the government manufacturing units & trainset depots in JV with partners.

Tata Steel: The steel major has on 1 March 2023, acquired 7,40,00,000 - 12.17% (effective yield) non-cumulative, non-convertible, non-participating, redeemable preference shares (NCRPS) of face value Rs 10 each of TRF, a listed associate company of Tata Steel, aggregating to Rs 74 crore (NCRPS Series - 2), on private placement basis.

Dreamfolks Services: The company's board approved the proposal to acquire 60% equity shares of Vidsur Golf for Rs 1.5 crore. Upon completion of such acquisition Vidsur will become a subsidiary of the company. The board also approved the proposal for incorporation of a subsidiary company in Singapore.

Olectra Greentech: The company announced that its 6x4 heavy-duty electric tipper received India's first homologation certificate from the Indian automobile regulatory agencies. The electric tipper is now roadworthy, adhering to all the Central Motor Vehicles Rules. The e-tipper was put through intensive tests under various conditions to make it ready for Indian roads, including manoeuvring the mountainous terrains at high altitudes and into the depths of the earth in mining and quarrying pits.

PNC Infratech: The construction company has received 'vesting certificate' from National Highways Authority of India (NHAI/Authority) for the project of "operation and maintenance of the Kanpur-Lucknow Section National Highway No.25 and Lucknow Bypass Section of National Highway No.56A & 568 and Lucknow-Ayodhya Section of National Highway No.28 (the "project highway") on operate, maintain and transfer (OMT) basis" implemented by one of company's subsidiaries namely 'PNC Kanpur Ayodhya Tollways' ("Concessionaire").

With the issuance of the said certificate, the Authority shall be deemed to have acquired the title and all interests of the Concessionaire in or about the 'Project Highway' shall be deemed to have vested unto the Authority, free from any encumbrances, charges and liens whatsoever.

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