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Rama Steel Tubes may gain after installing solar project

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Rama Steel Tubes announced that it has installed solar project at Khopoli facility, This solar project will be generating 1100 MWh / Year of energy, same amount of energy needed to power the installed and upcoming capacities. The announcement was made after market hours yesterday, 19 June 2017.

The solar project has a capacity of 750 KWp and will generate the same amount of energy needed to power the current as well as the planned upcoming capacity. An array of 2400 solar panels carpets the land, converting sunlight into electrical currents. lt will save money and energy while also protecting the environment. The estimated amount of reduction in the Carbon Footprint will reduce by LL20 MT pa by reducing the emission of Carbon dioxide into the atmosphere.

Rama Steel Tubes has unveiled one of the lndia's largest solar energy projects of its kind in the ERW pipes segment. The company has executed the entire project in less than 3 months' time at a cost of Rs 3.75 crore. Working with Visa Powertech P Ltd, the sustainable energy developer, Rama Steel Tubes has mounted 24OO solar panels on the factory land at its Khopoli facility, - an area equivalent to 3.75 acres. Currently this facility has an overall manufacturing capacity of 72,OOO MT per annum, however the company has plans to bring in additional 60,000 MT capacity at the same location. These facility is going to boost the performance of the company. ln line with its vision of profitable growth, the company has been successful in further strengthening its presence in highly profitable geographies. The company's products have been well accepted and appreciated in all the markets that it caters to.

Indiabulls Ventures said that IVL Finance, a non-public deposit taking NBFC registered with the Reserve Bank of India, a wholly owned subsidiary of Indiabulls Ventures has appointed Pinank Shah, as its CEO with immediate effect. The announcement was made after market hours yesterday, 19 June 2017.

Pinank Shah has been with Indiabulls Group for nearly 6 years. At Indiabulls Housing Finance (IHFL), Pinank Shah has been involved in various functions from time to time including credit and treasury functions and has over time gained very vast and wide experience in context to running a finance business. Prior to joining Indiabulls, Shah has worked with HDFC for about 10 years. Shah holds a Bachelor degree in Commerce from Mumbai University and a Master degree in Management Studies (Finance) from Jamnalal Bajaj Institute of Management Studies.

Tayo Rolls said that a meeting of the committee of the board will be held on 22 June 2017 for allotment of non-cumulative redeemable preference shares. The announcement was made after market hours yesterday, 19 June 2017.

Mindtree said that Magnet 360, a Mindtree company, announced the release of ConsumerConnect 360a Salesforce Fullforce Solution Accelerator for consumer goods brands. The announcement was made after market hours yesterday, 19 June 2017.

clarified on news item appeared in the channels captioned " SFIO grilled Bhushan Steel's CFO Nittin Johari; Allegation-Rs 5000 Cr. Re-routed Via Hawala Operators To Promoters? that at the outset the news item as aired is incorrect and wrong for the reason that there has been no 'grilling' of Nittin Johari, CFO by SFIO as mentioned. It is necessary to mention that the allegation(s) as made in news on 19th June, 2017 are completely wrong, baseless and hence, denied in their totality. The announcement was made after market hours yesterday, 19 June 2017.

SpiceJet and Boeing on 19 June 2017 signed a memorandum of understanding for 40 737 MAX airplanes. The agreement, valued at approximately $4.74 billion at current list prices, is split evenly between 20 new orders for the 737 MAX 10 and conversions of 20 of the low-cost carrier's 737 MAX 8 airplanes of its current order to 737 MAX 10s. The announcement was made after market hours yesterday, 19 June 2017.

SpiceJet operates a fleet of 35 Next-Generation 737s and 19 Bombardier Q400s. The carrier plans to grow its operational fleet to 100 airplanes by 2020 and looks to expand regionally with the new 737 MAX family of airplanes. SpiceJet will take delivery of its first 737 MAX in 2018.

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First Published: Tue, June 20 2017. 08:45 IST