HCL Technologies after market hours yesterday, 2 September 2015, announced entering into a partnership with Manchester United. As part of this partnership, HCL Technologies and Manchester United will work together to explore and unveil a number of digital initiatives to transform the experience of the Club's 659 million global followers. As the first step, HCL will create a state-of-the-art United Xperience Lab to be housed within the iconic Old Trafford Stadium, which will make it the seventh such lab across the world. Within the lab, HCL and Manchester United will explore revolutionary ways in which the club uses technology to create a unified fan experience for supporters; and in the process set a new engagement benchmark in the world of sport, HCL Technologies said in a statement.
Manchester United is one of the most popular and successful sports teams in the world.
NTPC turns ex-dividend today, 3 September 2015, for final dividend of Rs 1.75 per share for the year ended 31 March 2015 (FY 2015).
Grasim Industries turns ex-dividend today, 3 September 2015, for dividend of Rs 18 per share for the year ended 31 March 2015 (FY 2015).
MMTC will be watched. With respect to news article titled, "MMTC keen to sell its stake in Indian Commodity Exchange (ICEX)," MMTC clarified after trading hours yesterday, 2 September 2015, that its board directed the management to explore the possibility of divesting its stake in ICEX pursuant to Forward Markets Commission (FMC) guidelines regarding promoter's holdings in the said joint venture (JV) company. The company is exploring various possibilities on this direction. No concrete decision is taken by the board in this regard so far. As and when any such decision is taken the same shall be communicated to the stock exchanges in due course, the company said.
Vascon Engineers announced after market hours yesterday, 2 September 2015, that it raised Rs 100 crore through a rights issue. The rights issue was subscribed by over 130%. The promoters of the company infused Rs 60 crore through the issue, thereby, increasing the promoter shareholdings to 48.02%.
From the total fund raised through the issue, Rs 62 crore is being used to repay debt. This brings down the debt level of the company from approx Rs 335 crore to Rs 273 crore. The remaining Rs 38 crore is being used mainly to drive mainly residential projects, namely Windermere in Koregaon Park and Ela near Magarpatta city.
Meanwhile, the company said that its EPC business has an order book of approximately Rs 1000 crore, most of which is to be executed in the next 24 months. These projects are located in various cities including Pune, Mumbai, Chennai and Lucknow.
Apart from the Rs 100 crore raised, Vascon said it will raise another Rs 100 crore through the sale of its non-core assets like hotels, etc. The proceeds from these sales will be used to further reduce debt to sub Rs 200 crore levels. This will also help in improvement of cash flows and performance, the company said.
Vascon will also enter the affordable housing market with projects at Katvi, Off. Talegaon MIDC, Old Mumbai-Pune Road soon. The company will use the design and build strategy in these projects that will enhance efficiency in time and reduce the cost of construction.
Vascon also announced that the topline of its subsidiary GMP Tech Solutions has reached almost Rs 250 crore. GMP Tech Solutions specializes in manufacturing of fire doors, aluminum doors, clean room partitions, aluminum sections etc. Vascon took over GMP in the year 2010, when the turnover was 125 crore.
VA Tech Wabag (Wabag) announced after market hours yesterday, 2 September 2015, that its consortium won a Rs 1500 crore contract from Petronas.
Malaysia's national oil and gas company, Petroliam Nasional Berhad (Petronas), through one of its wholly-owned subsidiary, awarded the consortium of VA Tech Wabag and Muhibbah Engineering (M) Bhd, a contract for the design competition for Re-FEED and engineering, procurement, construction and commissioning of the Effluent Treatment Plant (ETP) for Petronas' Rapid (refinery and petrochemicals integrated development) project in Pengerang, Johor, Malaysia.
The contract was awarded by PRPC Utilities and Facilities Sdn. Bhd., a subsidiary under the Petronas Group of companies.
VA Tech Wabag will execute the project in partnership with Muhibbah Engineering, which has vast experiences in construction and infrastructure projects.
The contract value of the ETP is about Rs 1500 crore. The ETP will form part of the Rapid complex at Pengerang, Johor, in southern Malaysia.
The Rapid Project consists of a world scale integrated site which includes refining activities and petrochemicals production.
IRB Infrastructure Developers said before market hours today, 3 September 2015, that AE Tollway - Wholly-owned Subsidiary of the company, has now executed concession agreement with NHAI for the project of six laning of Agra-Etawah Bypass section of NH-2 (from km 199.660 to km 323.525) in the State of Uttar Pradesh under NHDP Phase-V on BOT (Toll) mode.
The project is on design-build-finance-operate-transfer (DBFOT) pattern. The estimated project cost of the company is approximately Rs 2650 crore. The concession period of the project is 24 years and the construction period is 910 days. The company will get tolling rights on Agra - Etawah Bypass section of NH-2 from the Appointed Date The company has offered premium of Rs 81 crore to NHAI, which will increase by 5% year on year (YoY). With this Project, IRB has expanded its base in 8th state viz. Uttar Pradesh.
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