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KEC International to double civil business revenue to Rs 2,000 cr in FY22

With strong visibility for metro projects and government spending, KEC International is looking to double its civil business segment to Rs 2,000 crore in FY22. “We have six metro projects with us along with large water pipeline projects and construction orders from airports, oil&gas and data centers sections which assures us of doubling of topline this fiscal,” Vimal Kejriwal, managing director and chief executive officer of KEC International. Of the top three revenue streams of KEC International, its civil business is the third-largest contributor after transmission and distribution (T&D) and railways.

Phillips Carbon Black lines up Rs 1,300-1,400 crore capex by FY23

RP-Sanjiv Goenka Group firm Phillips Carbon Black Ltd (PCBL) to pump about Rs 1,300-1,400 crore over the next two years on capacity expansion, a top company official said. The expansion lined up is one Rs 800 crore greenfield plant near Chennai and brownfield expansion in Mundra for specialty carbon that would entail an investment of Rs 300-350 crore. The carbon major will pump Rs 100 crore in research and development facilities in Belgium and India, he said.

Airtel board approves up to Rs 21,000 crore rights issue: filing

Telecom operator Bharti Airtel's board on Sunday approved up to Rs 21,000 crore rights issue, according to a regulatory filing. The Board, which met to consider the company's capital raising plans, cleared rights issue price of Rs 535 per fully paid-up equity share, including a premium of Rs 530 per equity share. In a BSE filing, Airtel said that the "board approved the issuance of equity shares of face value of Rs 5 each of the company on rights basis to eligible equity shareholders of the company as on the record date (to be notified later), of an issue size of up to Rs 21,000 crores".

SAIL to invest Rs 4k cr in Jharkhand over 3 yrs, raise Gua mines capacity

State-owned Steel Authority of India Ltd (SAIL) on Saturday expressed commitment to invest Rs 4,000 crore in the next three years in Jharkhand to augment capacity of its Gua mines besides installing a 4-million-tonne (MT) pallet plant. The intent for investment was made at the launch of the Jharkhand Industrial and Investment Promotion Policy (JIIPP) 2021 by Chief Minister Hemant Soren. SAIL is one of the largest steel-making companies in the country under the Ministry of Steel producing iron and steel at five integrated plants and three special steel plants, including Bokaro Steel Plant (BSL) in Jharkhand.

Nazara Technologies acquires OpenPlay for Rs 186.4 crore

Nazara Technologies on Friday said it has acquired Hyderabad-based OpenPlay for Rs 186.41 crore. Nazara's Board has approved the acquisition of OpenPlay Technologies from its existing shareholders - Sreeram Reddy Vanga and Unnati Management Consultants LLP - at a consideration of Rs 186.41 crore, in one or more tranches, a regulatory filing said. "In the first tranche of the strategic investment, the company shall acquire 23.30 per cent of the issued and paid-up share capital of OpenPlay for a consideration of Rs 43.43 crores, by end of Q2 of FY 2021-22," it added.

Marico aims for 15% revenue growth, 10% volume growth in medium term

Homegrown FMCG firm Marico expects a 13-15 per cent revenue growth in the medium term backed by an 8-10 per cent rise in volume, and will continue to invest in brand building to support the growth initiatives, said its Managing Director and Chief Executive Officer Saugata Gupta.

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