India To Soon Make World-Class Dredgers As Cochin Shipyard Signs Pact With World s Largest Dredger Maker
IHC dredger (Pic Via Royal IHC Website)
India will soon be making world-class dredgers as the state-owned Cochin Shipyard Limited (CSL) has decided to partner with Royal IHC, world s largest dredger maker, for manufacturing of dredgers in the country.
On Wednesday (24 February), CSL signed a memorandum of understanding (MoU) with Dredging Corporation of India (DCI) and Royal IHC to make high capacity dredgers in India.
The MoU was signed in the presence of Minister of State for Ports, Shipping and Waterways, Mansukh Mandaviya, in Delhi, according to a release by the Ministry of Ports, Shipping and Waterways.
NMPT inks 7 pacts for ₹1,417 crore investment in the port
Updated:
Updated:
The biggest investment comes from MRPL
Share Article
The biggest investment comes from MRPL
The New Mangalore Port Trust (NMPT) on Wednesday entered into seven memorandum of understandings (MoUs) for investment at the port in the run-up to the Virtual Maritime India Summit, 2021, scheduled between March 2 and March 4.
NMPT chairman A.V. Ramana and other senior officers of the port signed the pact with different companies, including Mangalore Refinery and Petrochemicals Ltd., in the presence of Deputy Chief Minister C.N. Ashwath Narayan and Nalin Kumar Kateel, MP, during the Mangaluru Innovation Conclave.
Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 498.67 points or 0.98% at 51,280.36. The Nifty 50 index was up 166.10 points or 1.11% at 15,148.10. The Nifty regained the psychological 15,000 mark in opening trade.
Upbeat Asian stocks boosted sentiment.
The S&P BSE Mid-Cap index was up 0.97%. The S&P BSE Small-Cap index was up 0.86%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1488 shares rose and 489 shares fell. A total of 77 shares were unchanged.
F&O expiry:
Trading could be volatile today as traders roll over positions in the F&O segment from the near month February series to March series. The February 2021 F&O contracts will expire today, 25 February 2021.
The MOU was signed with Rohit Vora, director, Adani Cementation limited and KG Nath deputy chairman, NMPT.
MANGALURU: The New Mangalore Port Trust (NMPT) and various stakeholders and prospective investors signed seven MoUs worth Rs 1,417 core at the Mangaluru Innovation Conclave on Wednesday. M Venkatesh, MD, MRPL and A.V Ramana Chairman, NMPT signed two MoUs including for the construction of a desalination plant in the land already leased out by NMPT at a proposed investment of Rs 637 crore. The other MoU was for the laying of BS-VI HSD pipeline from MRPL refinery premises to NMPT at a proposed cost of Rs 73 crore.
India s largest stock exchange, the National Stock Exchange (NSE), abruptly shut its cash and derivatives segment today, following a glitch which froze stock prices, triggering panic among investors. Trading was halted at 11:40 am on the NSE and resumed only at 3:30 pm. The glitch, which came a day ahead of the monthly F&O expiry for the February series, caused massive volatility during the last hour of trade and the same may continue on Thursday as well. Post resumption, both the Sensex and the Nifty indices witnessed bouts of volatility as investors scurried to square off their positions, and execute morning trades.