Corporate Announcements: Regulation 30 Updates

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Corporate Announcements: Regulation 30 Updates

Team FS

12/Apr/2024

Welcome to the daily dose of market insights with the Regulation30 Daily Newsletter! Get ready to stay ahead of the curve as we decode the latest Regulation 30 filings on NSE & BSE. Our daily newsletter delivers concise yet comprehensive analysis of rights issues, takeovers, buybacks, de-mergers, acquisitions, and more. Whether you're a seasoned investor or just dipping your toes into the market, our expertly crafted content will empower you to make informed decisions and navigate the ever-changing landscape of special market situations.

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1. PRATHAM EPC PROJECTS LTD:

Pratham EPC Projects Limited Secures Rs 497 Crore Order
Pratham EPC Projects Limited witnessed a 20% surge in its shares, hitting the upper circuit, following the announcement of a significant order worth Rs 497 crore. The order, awarded by Sun Petro Chemicals, is more than double the company's market capitalization of Rs 241 crore. The project involves an EPC contract for onshore and offshore crude oil pipelines in Gujarat's Gulf of Khambhat and other fields, with an expected completion timeline of 36 months. Established in 2014, Pratham EPC Projects Limited specializes in gas pipeline projects and offers a range of services to oil and gas utilities in India, including engineering, procurement, and construction.

2. HINDALCO INDUSTRIES :

Hindalco Industries Faces 30 Crore Customs Penalty
Hindalco Industries disclosed that it has been served a penalty fine order of approximately 30 crore by the Principal Commissioner of Customs, Ahmedabad. The penalty pertains to a pre-import condition applicable for a limited period on import against advance Authorisation. However, the company stated that it does not anticipate these orders to significantly impact its financials, operations, or other activities. Hindalco plans to file an appeal against the penalty, citing a strong case based on merit and law.

3. BHARTI AIRTEL :

Airtel Achieves 3.5 Million 5G Users in West Bengal
Bharti Airtel has surpassed 3.5 million 5G customers in West Bengal, marking a significant milestone in next-generation mobile connectivity. The company's extensive deployment across all cities and districts in the state has made it easier for customers to access 5G services, from Kolkata to tourist destinations like Darjeeling. Airtel's CEO for West Bengal & Odisha, Ayan Sarkar, expressed gratitude to customers for embracing unlimited 5G service at no extra cost, emphasizing the company's commitment to providing a fast, reliable network. The rapid adoption of 5G is fueled by enhanced network infrastructure, accelerated rollout, and increased availability of affordable 5G devices. Airtel's partnership with Poco for sub-10K 5G smartphones and retail expansion has further facilitated consumer adoption of 5G.

4. VODAFONE IDEA :

Vodafone Idea Plans Rs 18,000-20,000 Crore FPO
Vodafone Idea (Vi) is gearing up to launch a follow-on public offer (FPO) aiming to raise Rs 18,000-20,000 crore by next week. The telecom company has enlisted Jefferies, SBI Caps, and Axis Capital as lead managers for the FPO, set to be one of India's largest offerings. Although no banks are underwriting the issue, Vi has secured commitments from anchor investors, including foreign and domestic institutional investors. The Government of India, the largest shareholder with a 33% stake, has also shown support for the fundraise. The move comes amid intense competition and financial challenges in the telecom sector, with Vi grappling with substantial debt and operational deficits. The proceeds from the offering are expected to enhance liquidity and strengthen Vi's financial position.

5. OIL & NATURAL GAS CORPORATION LTD. (ONGC) :

Significant Order for Supply of Casing Seamless Pipes
The company has secured a significant order worth approximately Rs. 674 crores for the supply of casing seamless pipes. This order has been awarded by ONGC Ltd., a domestic entity, and pertains to the supply of casing seamless pipes. The contract is domestic and requires gradual dispatches within a period of 44 weeks. There is no involvement of the promoter, promoter group, or group companies in the entity that awarded the order. Additionally, this order does not fall within related party transactions, ensuring transparency and adherence to regulatory guidelines.

6. TATA PASSENGER ELECTRIC MOBILITY LTD. (TPEM) :

Strategic Partnership for EV Charging Infrastructure
Tata Passenger Electric Mobility Ltd. (TPEM) has entered into a non-binding Memorandum of Understanding with Shell India Markets Private Limited (SIMPL) to collaborate in establishing public charging stations across India. Leveraging Shell's extensive fuel station network and TPEM's expertise in electric vehicles, the collaboration aims to set up chargers at locations frequented by Tata EV owners, enhancing the overall charging experience. This partnership also explores the introduction of convenient payment systems and loyalty programs to encourage EV adoption. With TPEM commanding a 71% market share in electric passenger vehicles and Shell offering reliable and ultra-fast charging solutions, this strategic alliance is poised to drive up EV adoption in India and contribute to the growth of the EV ecosystem.

Also Read : Sensex and Nifty 50 Drop 1% Each in Broad Sell-off; Investors Shed Over ₹2 Lakh Crore in Single Day

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