Trackpad

Gensol Engineering secured orders worth ₹ 531 crore 

The company informed the exchange that it has till September 18, 2022, in the normal course of business, closed orders from various reputed clients for the development of solar power projects worth over ₹ 531 crore (exclusive of taxes), aggregating to a capacity of over 121 MWp.

To quote from the press release filed by the company with the exchange, "Piquantly, more than 37 per cent of these orders envisage the development of projects in the southern states of Andhra Pradesh, Karnataka, Telangana, and Tamil Nadu, closely followed by Gujarat at 34 per cent. Similarly, 67 per cent of the total order book needs to be developed over land while the balance will be raised over the rooftops of the factories of the clients. While the largest size of the project is over 25 MWp, the lowest size is around 80 kWp."

It is worth noting that more than 23 per cent are repeat orders from the existing clients, which is emblematic of the trust that the company has built with its clients through its delivery of high-quality solar assets. Some of the major additions to the company’s esteemed client list are Singareni Collieries Company Limited (SCCL), a coal mining company jointly owned by the Government of Telangana and the Government of India, Braithwaite & Co. Limited (BCL), a leading engineering company under the Ministry of Railways and a privately-owned leading manufacturer & supplier of industrial gases, among others. Gensol Engineering Ltd is engaged in the business of solar consulting & EPC. The company's services include solar advisory, solar EPC, solar O&M along with solar monitoring & analysis. It also provides dedicated consultancy services for extra-high voltage (EHV) transmission lines. 

Kshitij Polyline announces entry into e-commerce

Kshitij Polyline is planning to increase its revenue by entering into new product ranges and taking advantage of technological advancement. The company, via a filing with the exchange, informed that its board has considered approval to enter the e-commerce space and develop its brand from stationary as well as ancillary products.

The company intends to develop its own website, sell on other e-commerce platforms, open stores for speedy delivery, and tie up with other vendors along with offline and online marketing to increase its revenue through the use of new technology. The company's board has also approved the agenda of increasing its product range. This Daman & Diu-based entity aims to strengthen its product line with sound quality and durability through research and development, keeping in mind the requirement of consumers.

The company expects its website work to be completed within the next two quarters i.e. six months while other strategies may take less or more time. Incorporated in 1998, Kshitij Polyline is able to manufacture, distribute, supply, import & export a wide array of smart ID card products, binding and lamination equipment, related materials, and accessories along with stationery products. 

Jayant Infratech received its biggest ever work order

Jayant Infratech announced on bourses that it has received its biggest ever work order to date, worth ₹ 54,24,99,025/- from M/s. ECI-SEEIPL(JV). The company further informed that the order is received for the “Supply, Erection Testing and Commissioning of 25 kV, 50 Hz, Single Phase, Traction Overhead Equipment, Traction Substation, Switching Station and other associated works from chainage (-) 1.214 to chainage 105.000 & WCL siding, Chord line, Loop lines, bridges and more in connection with railway Electrification Work between Naghbir to Itwari section in Nagpur Division of Southeast Central Railway.” This contract is executable for over 300 days.

The total market cap of Jayant Infratech is ₹ 135 crore. For a company of this small size, the order size of more than 54 crores can be considered a positive trigger. The shares of Jayant Infratech have been hitting back-to-back lower circuits in the past few trading session. It will be interesting to see if the big work order received by the railway’s infrastructure company can revive the stock sentiment. 

Shantidoot Infra Services Limited becomes Three Hundred and Ninety Second Company to get listed on BSE SME Platform

Shantidoot Infra Services Limited became the 392nd company to get listed on the BSE SME Platform on September 19, 2022. Shantidoot Infra Services Limited came out with an initial public offering of 4,96,000 equity shares of ₹ 10 each for cash at a price of ₹ 81 per equity share, aggregating to ₹ 4.02 crore. The company successfully completed its public issue on September 09, 2022.

Shantidoot Infra Services Limited is Bihar based company whose registered office is in Patna. The company engaged in the construction of institutional buildings like schools, colleges, hospitals, offices, hotels, etc. The company also carry out projects of re-designing, re-modeling and renovating institutions as per the need of the clients. The company categorizes the projects mainly into the government sector and the Private sector. The company secures private sector contracts, in general, through one-to-one negotiation and Government contracts through bids as per the public notice issued by government departments.

Mumbai-based Gretex Corporate Services Limited was the lead manager of Shantidoot Infra Services Limited. So far, 151 companies have migrated to the main board. The 391 companies listed on the BSE SME Platform have raised ₹ 4,253 crore from the market and the total market capitalization of 391 companies as on September 19, 2022, is ₹ 60,326 crore. BSE is the market leader in this segment with a market share of 61 percent. SEBI came out with detailed guidelines on 18th May 2010 for the launching of SME Exchange/Platform. BSE became the first stock exchange to get approval from SEBI and launch its SME platform on 13th March 2012. The response since the launch of this platform by BSE has been very positive to date. 

Arfin India announces stock split in 1:10

The board of directors of the company approved the subdivision of each existing equity share of the company, having a face value of ₹ 10 each fully paid up into 10 equity shares of the face value of ₹ 1 each, subject to regulatory/statutory approvals as may be required along with the approval of the shareholders of the company. In short, the board of directors approved the stock split in 1:10.

Another tailwind, working in the favour of the stocks, is as follows: The company entered into a service agreement with Tata International Limited (TIL) & Tata International Singapore Pte Ltd (TISPL) for the supply of aluminum scraps and other materials in the Indian market, whereby Arfin India Limited will provide business development services for the procurement and sales to TIL as well as TISPL. This service agreement will be effective from September 2022.

The agreement, which is estimated to cover a volume of around 10,000 MT to 15,000 MT, will facilitate the easy availability of inventories for the company. Also, Arfin India Limited has initiated the installation of a 1.2 MW Solar Power Plant for captive use at Terwada village (Gujarat). After the successful implementation of the solar power plant, the company will save ₹ 125 lakh per annum on electricity/power costs. A transition to renewable energy is good for the people as well as the planet.

In Q1FY23, the company, which deals in aluminium wire road, aluminium deox, cored wire, alloy products, automobile parts, and cable & conductors, reported total revenue of ₹ 146.3 crore as against ₹ 99.3 crore in Q1FY22, a growth of 47 per cent on a YoY basis. The net profit for the quarter jumped more than two-fold to ₹ 2.7 crore against ₹ 1.1 crore.