RIL, Ircon International, Mahindra Lifespace Developers in focus

March 03,2021

Shares of Reliance Industries (RIL) will be in focus. Reliance Jio Infocomm (RJIL) announced that it has successfully acquired the right to use spectrum in all 22 circles across India in the recently concluded spectrum auctions conducted by Department of Telecommunications, Government of India. The payment to be made for the right to use this technology agnostic spectrum for a period of 20 years is Rs. 57,123 crore

Ircon International announced that the company's promoter proposes to sell up to 4,70,25,787 equity shares of the company, representing 10% of the issued and paid up share capital of the company on 03 March and 04 March 2021 through a separate window of the BSE and NSE. The Government may exercise an option to additionally sell 2,82,15,473 equity shares, representing 6% of the issued and paid up share capital of the company. The floor price for the offer shall be Rs 88 per share.

Mahindra Lifespace Developers said the company has launched its residential project 'Aclove', at Chandivali, Andheri, Mumbai Metropolitan Region. The project is registered with Maharashtra RERA.

Shares of Engineers India will be in focus. Indian Oil Corporation has awarded the project for execution of consultancy for overall project management and EPCM Services (Phase II) for capacity expansion of Panipat refinery from 15 MMTPA to 25 MMTPA (P-25 Project) to Engineers India. The total awarded order value is around Rs 600 crore with a total project schedule of 40 months for mechanical completion.

Motherson Sumi Systems said that CRISIL has reaffirmed long term credit rating as AA+ and revised outlook from Negative to Stable.

V- Mart Retail informed that the company has opened a new store, in the state of Bihar. The company has also closed two stores in the state of Assam and Uttar Pradesh respectively.

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