Buzzing Stocks: Key Updates on Optiemus, Go Digit, Solar Industries, Persistent Systems, Coforge, and Others
Optiemus Unmanned Systems (OUS) to Invest ₹140 Crore in Drones
Optiemus Unmanned Systems (OUS), a subsidiary of Optiemus Infracom Ltd, announced a significant investment of approximately ₹140 crore to deploy 5,000 drones in agriculture and mapping over the next year. The initiative aims to generate service revenue of ₹600-₹900 crore by the end of 2025, according to a top company official. The drones are priced starting at ₹2.50 lakh each.
Go Digit Insurance Faces GST Inquiry
Go Digit Insurance informed the stock exchanges that officials from the Directorate-General of GST Intelligence (DGGI), Bengaluru, sought information regarding purchases from a specific vendor. The DGGI found the vendor to be non-existent at its registered premises. The company reiterated that the transactions were part of regular business operations and has voluntarily reversed input tax credit of ₹7 crore, while the vendor has promised to cooperate with the investigation.
Solar Industries Acquires Majority Stake in Problast BS
Solar Industries India Ltd, a global entity specializing in energetic materials for mining, defense, and space applications, has acquired a majority stake in Problast BS (Pty) Ltd, South Africa, through its subsidiary Solar Mining Services (Pty) Ltd.
Persistent Systems Acquires Starfish Associates
Persistent Systems’ US-based subsidiary is set to acquire 100% of New Jersey-based software company Starfish Associates for $20.7 million. The acquisition is expected to be completed within 4-6 weeks. Persistent Systems Inc, USA, has entered into a stock purchase agreement for this acquisition.
Coforge Buys 11% Stake in Cigniti Technologies
Coforge has acquired an 11% stake in IT company Cigniti Technologies for ₹426 crore through an open market transaction. The purchase involved 30,21,293 shares at an average price of ₹1,412.25 each.
HG Infra Engineering Expands into Solar Power
HG Infra Engineering’s wholly-owned subsidiary, H.G. Solar Projects, has incorporated a new subsidiary, H.G. Dudu Solar Project, to operate in the solar power sector. This follows the incorporation of other subsidiaries: H.G. Dhingsari Solar Project, H.G. Ramsagar Solar Project, and H.G. Moriya Solar Project.
Ahluwalia Contracts Wins ₹572 Crore Order from Airports Authority of India
Ahluwalia Contracts (India) has secured an order worth ₹572 crore (excluding GST) from the Airports Authority of India for constructing a new terminal building and allied structures. The project is to be executed within 24 months.
RailTel Corporation Receives ₹23.96 Crore Order
RailTel Corporation of India has received a work order worth ₹23.96 crore from Webel Technology for upgrading and enhancing existing IT and non-IT infrastructure at WBSDC Monibhandar. The project is expected to be completed by September 25.
Share India Securities Forms New Subsidiary
Share India Securities has formed a subsidiary, Silverleaf Securities Research, to engage in trading and providing stock broking services. The company has subscribed to 7,30,900 equity shares of ₹10 each, totaling ₹73,09,000.
BGR Energy Systems Plans ₹1,000 Crore Rights Issue
BGR Energy Systems announced plans to raise ₹1,000 crore through a rights issue. The record date for determining eligible shareholders and the entitlement ratio are yet to be decided. A ‘rights issue committee’ has been formed to oversee the process.
IDFC First Bank Raises ₹3,200 Crore from Insurance Companies
IDFC First Bank has raised ₹3,200 crore by selling equity shares to six insurance companies, including LIC and HDFC Life. The bank allotted over 39.68 crore shares at ₹80.63 per share. The companies involved are Life Insurance Corporation of India, HDFC Life Insurance Company, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, ICICI Lombard General Insurance Company, and SBI General Insurance Company.
Lloyds Metals and Energy Launches QIP
Lloyds Metals and Energy has launched a Qualified Institutional Placement (QIP) to raise funds, setting the floor price at ₹732.08, a 5.5% discount to Thursday’s closing price. The company may offer a 5% discount to the floor price.
RVNL Signs MoU with Delhi Metro Rail Corporation
Rail Vikas Nigam Limited (RVNL) has signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation to collaborate on upcoming projects in India and abroad.
IRCON Receives ₹750.8 Crore Order from RVNL
IRCON has secured an order worth ₹750.8 crore from RVNL, marking a significant development in its project portfolio.
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