Reliance Industries to step up fuel exports to Europe
As per reports, Reliance Industries Ltd’s Jamnagar facility is lifting crude processing and deferring planned maintenance to take advantage of surging demand for diesel in Europe. RIL is already sending shipments of the fuel to Europe. The complex in Gujarat can process 1.36 million barrels of crude per day from two refineries and can export most of the fuel.
Various Asian refiners are looking to send diesel abroad as crude oil prices surge in Europe following Russia’s invasion of Ukraine.
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Coal India receives 100% booking in its first single-window e-auction
Coal India Ltd’s first-ever offer of nearly 5.2 lakh tonnes (LT) of coal under the single-window e-auction received an encouraging response from coal consumers. 100% of the offered quantity was booked. After the merger of multiple auction windows into a solitary outlet, CIL conducted an e-auction in two of its subsidiaries on March 3, 2022.
Cyient partners with iBASEt to drive business growth
Cyient has entered into a strategic partnership with iBASEt, a company that simplifies how complex products are built and maintained. iBASEt’s industry-leading manufacturing software solutions complement Cyient’s experience in implementing manufacturing execution solutions.
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L&T Construction bags significant order from Delhi Metro
The heavy civil infrastructure business vertical of L&T Construction has won a significant order (in the range of Rs 1,000-2,500 crore) from the Delhi Metro Rail Corporation Ltd (DMRC). The scope of work includes the design and construction of 5 km of twin tunnel by shield tunnel boring machine, underground ramp, and four stations. The project is funded by Japan International Cooperation Agency (JICA).
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Expedia selects RateGain as a preferred connectivity partner
RateGain Travel Technologies Ltd announced its preferred connectivity partner status with Expedia Group. The company will work with the leadership team of Expedia Group to provide feedback and help shape future products and technology solutions. The Expedia Group Connectivity Partner Programme recognizes and rewards top connectivity providers, including channel managers, property management systems, and central reservation systems.
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PSP Projects secures order worth Rs 564 crore
PSP Projects Ltd has emerged as the lowest (L-1) bidder for a construction project in Gujarat. The order comprises the construction of a sports complex in Ahmedabad. The bid value of the project is Rs 563.99 crore. PSP Projects offers a wide range of construction and allied services for industrial, residential, and government residential projects in India.
Hatsun Agro to sell RTE business, Oyalo brand to Naga Ltd
Hatsun Agro Product Ltd (HAPL) has entered into a pact with Naga Ltd. to sell its Ready to Eat (RTE) business and ‘Oyalo’ brand for Rs 25 crore. The transaction will be effective by end of April 2022. As of March 2021, RTE’s net worth (based on the gross value of assets) was Rs 59.87 crore (5.86% of the net worth of the company). HAPL’s net worth stood at Rs 1,021.51 crore.
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J. Kumar Infra secures orders worth Rs 2,032 crore
J. Kumar Infraprojects Ltd has secured a work order from Pune Municipal Corporation for the development of the Mula Mutha river from Bund Garden Bridge to Mundhwa under the Pune river rejuvenation project. The order is worth Rs 604.75 crore. The company has also won an order worth Rs 1,426.99 crore for designing and constructing twin tunnels and four underground stations of Phase-IV of Delhi Metro.
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Vodafone UK in talks to sell remaining 21% in Indus Towers
As per an ET report, Vodafone Group Plc is in advanced talks with American Tower Co (ATC), Crown Castle International, Brookfield, and others to sell its remaining 21% stake in Indus Towers through block deals. Vodafone UK’s residual stake of 56.72 lakh shares in Indus Towers is valued at ~Rs 11,571 crore. Once Vodafone sells its stake in Indus Towers, it will mark the company’s exit from the passive telecom infrastructure business in India.
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