PIPAVAV SHIPYARD
Ahead of Market: 10 things that will decide D-Street action on Thursday
Benchmark BSE Sensex breached the historic 80,000 level intraday for the first time while Nifty raced more than 162 points to close at a fresh lifetime high on Wednesday following heavy buying in banking and FMCG shares amid firm global market trends. Bulls have regained control from bears. This shift in sentiment has once again favored long trades in the market.
Rare ARC bids for SBI's claims on Reliance naval loan guarantees
Rare Asset Reconstruction Company is acquiring SBI's claims from personal guarantees by Nikhil and Bhavesh Gandhi. The guarantees were issued for loans to Reliance Naval and Engineering, operated by Swan Energy-led consortium in partnership with Hazel Mercantile through Hazel Infra. The Supreme Court upheld the IBC provision allowing lenders to recover overdue money from corporate debtors' personal guarantors.
Time to accumulate IT stocks on dips; buy these 3 PSUs on dips: Dharmesh Shah
Dharmesh Shah, Head-Technical at ICICI Direct, suggests viewing PSU corrections positively as buying opportunities. He also anticipates that Nifty momentum will sustain and has a positive outlook on Nifty auto index and Maruti. He further recommends accumulation in the IT sector for medium-term gains as he expects a gradual recovery in the IT index.
Swan Energy raises Rs 3,319 crore through QIP
Quant Mutual Fund acquired 18.08% of the total issue size, while Life Insurance Corporation and SBI Life Insurance each purchased 9.04% of the issue size. Other investors in the QIP include The Triumph Fund and Dovetail India.
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Earnings rating is calculated based on three factors - earnings surprises, estimate revisions and recommendation changes.
Swan Energy to use Reliance Naval to foray into naval defence contracts, oil & gas and repair
Three-year expansion plan includes becoming a hub for APAC orders, coast guard jetty, second dry dock. Plans to use the facility to bag international orders as the shipyard was also qualified for the maintenance of the Fifth and the Seventh Fleet of the US Navy.
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No longer need Ukraine for marine engines, says Russia
Responding to Indian concerns that the ongoing war with Ukraine could impact the delivery of gas turbine engines needed for two Project 11356 class frigates being made at Goa, the head of the United Shipbuilding Corporation (USC), Alexey Rakhmanov, said replacements were available.
APM Terminals keen on buying Reliance Naval and Engineering
Other plans include a 700-crore expansion of its own terminal to handle bigger ships, said Jakob Sorenson, managing director of Gujarat Pipavav (GPL), the local unit of APM. He added that the Indian company may also look at buying more ports.
Lenders to Reliance Naval seek EoIs for sale
The company is being sold to recover outstanding loans of Rs 43,587 crore. Of this, the RP has admitted Rs 10,878 crore of dues of financial creditors, and another Rs 32,693 crore is under verification.
Government issues show-cause notice to Reliance Naval after encashing all bank guarantees in patrol vessel contract
In fresh punitive action against the Anil Ambani-promoted Reliance Naval and Engineering Limited (R-Naval) for its failure to deliver five naval offshore patrol vessels (NOPVs) under a Rs 2,500 crore deal, the government has issued a show-cause notice to the debt-ridden company and encashed all its different bank guarantees worth around Rs 980 crore.
Reliance Defence in talks with Coast Guard for patrol vessels
Contract with the Coast Guard is likely to be signed in October, defence sources said. They said the design will be done in-house and built by RDEL at its Pipavav.
In a first, 44,500-ton aircraft carrier to be refitted in India
The largest dry docking of a warship in India will take place at its biggest such facility in Gujarat that measures over 662 metres in length.
Anil Ambani bets big on defence, lines up Rs 5,000 crore more in Pipavav Shipyard
Ambani added that specific measures towards ease of doing business will encourage industry participation to boost confidence of the private sector in the 'Make in India'.
Indian Navy to soon invite tenders for six conventional submarines
Private players like L&T and Pipavav Defence, are said to be strong contenders for the project, besides the state-run Mazagon Dockyard Limited.
Government issues naval armament business licence to private, public companies
Government has issued industrial licences for naval armament business to large public and private sector companies including Larsen & Tubro, Pipavav and BHEL.
ABG, Pipavav keep fingers crossed as MoD to decide on their 'capacity' to handle Rs 20,000 crore contract
The two yards, which had been shortlisted along with L&T for a navy order for four Landing Platform Dock (LPDs), have recently faced corporate debt restructuring.
Mahindra Defence, Shapoorji Pallonji may bid for troubled Bharati Defence
The two companies are currently evaluating the deal that values the target company at $350 million, said three people with direct knowledge of the development.
Shapoorji Pallonji, Liberty House, M&M in race to buy ABG Shipyard
All three have separately bid for assets with offers between Rs 3,000cr - 3,500cr, under which lenders will have to take a haircut of around 70% on the co's total outstanding debt.
Lenders to decide action plan on Reliance Naval loans soon
The firm has missed payments to lenders for the last two and a half months.
Reliance Defence, L&T may slug it out for Rs 20,000 crore warships contract
Commercial bids submitted by the two private firms for the largest defence project under Make in India will be opened in the next three months.
Not flying solo: Tie-ups the trend at Aero India 2017
Aero India 2017: Adani group has collaborated with Israel for drone project while Reliance Defence has entered into a pact with UAE firm.
Reliance Defence jumps 4% as co emerges as lowest bidder for Rs 920 crore project
The contract is likely to be signed in October, defence sources told PTI. They said the design will be done in-house and built by RDEL at its Pipavav shipyard.
RDEL gets clearance for participation in defence projects
The Defence Acquisition Council (DAC) in its last meeting has cleared the capacity assessment of RDEL, defence sources said.
After acquiring Pipavav shipyard, Anil Ambani goes big on defence, raises 11 new companies
In a quiet move, Anil Ambani's RDL has applied for as many as 13 new licences to develop and produce military systems.
Cash-strapped ABG shipyard close to selling controlling stake to Privinvest Holding SAL
Privinvest is likely to buy up to 49% stake in ABG through fresh issuance of shares. This will trigger an offer for an additional 25% of equity.
EY study says Indian shipbuilding capacity grossly inadequate, private yards can step up
The requirement of the navy and the Coast Guard over the next few years stretches from offshore patrol vessels to amphibious fighting ships.
ABG Shipyard moves on expectation of JV with PSU shipyards
The stock of ABG Shipyard has seen an increased investor interest in the last couple of days due to the expectation of a Joint Venture with PSU Defence shipyards.
Pipavav plans to raise $200 million from overseas
Pipavav Defence and Offshore Engineering Company plans to raise $200 million through a bond issue or overseas borrowings.
Pipavav Shipyard renames itself
Gujarat-based shipbuilder Pipavav Shipyard Limited (PSL) has changed its name from PSL to Pipavav Defence and Offshore Engineering Company Ltd.
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