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Tech Mahindra may gain on buyback plan
18-Feb-19   08:46 Hrs IST

Tech Mahindra said that the meeting of the Board of Directors of the company is scheduled on 21 February 2019, to consider a proposal to buy-back the fully paid-up equity shares of the company. The announcement was made on Saturday, 16 February 2019.

Dr Reddy's Laboratories said that the company received a written communication from the US FDA, about the issuance of Establishment Inspection Report (EIR) for FTO VII, its formulations manufacturing facility at Duvvada, Visakhapatnam. This site was included in the warning letter received from US FDA in November, 2015. Subsequently, the site was audited by US FDA in March 2017 for which the company received EIR in November 2017, wherein the site's status remained unchanged. The site was again audited in October 2018. Based on the company's responses and follow up actions, the US FDA has concluded that this inspection is closed and has determined the inspection classification of this facility as Voluntary Action Initiated (VAi). The announcement was made on Saturday, 16 February 2019.

Cochin Shipyard said that a Joint Venture Company in the name of Hooghly Cochin Shipyard (HCSL) has been formed between Cochin Shipyard (CSL) and Hooghly Dock & Port Engineers (HDPEL), in which CSL is the major shareholder. The ground-breaking ceremony of the construction of new yard at HCSL was performed on 16 February 2019. The announcement was made on Saturday, 16 February 2019.

Sail informed that in connection with the Strategic Disinvestment of 100% of its stake in Alloy Steels Plant (ASP) at Durgapur, the company had issued Preliminary Information Memorandum (PIM) and Expression of lnterest (EoI) Request. The EoIs received in response to the above have been annulled. It is also informed that fresh process in this regard has been initiated with the approval of the Government and revised PIM and EoI request will be issued shortly. The announcement was made after market hours on Friday, 15 February 2019.

PNC Infratech received Letter of Award (LoA) from Public Works Department (PWD) for the project of 'Widening and Strengthening of 63.65 km long Lakhimpur to Dudhawa National Park State Highway (Two Lane with Paved Shoulders) in the District of Lakhimpur - Kheri, U.P.' for a contract value of Rs 186.48 crore. The announcement was made on Saturday, 16 February 2019.

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