Company Profile

Essar Shipping has informed that the Board of Directors of the Company at its meeting held on Thursday, March 28, 2024 have considered, noted and approved the following: Extension of timeline for concluding Disinvestment in Overseas Direct Investments (ODI) and sale of shares of subsidiary Companies namely: a. Energy II, Bermuda; b. Essar Shipping DMCC, Dubai; and c. OGD Services Holdings, Mauritius. Subject to approval of members at the ensuing Extra Ordinary General Meeting of the Company, upon completion of said transaction, the said Companies will cease to be the subsidiary of the Company; Resignation of Nisha Barnwal as the Company Secretary and Compliance officer of the Company with effect from close business hours of 12.04.2024; Appointment of Rachana Trivedi as the Company Secretary and Compliance officer of the Company with effect from 13.04.2024. Further, the detailed disclosure as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/ CFD /CMD/4/2015 dated September 9, 2015 and SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated 13th July 2023 is enclosed as Annexure-A and Annexure B. The date and Notice of Extra ordinary General Meeting will be intimated shortly. The meeting of Board of Directors of the Company commenced at 11.00 am and concluded at 4.30 pm.

The above information is a part of company’s filings submitted to BSE.

Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 and in compliance with circular no. LIST/COMP/01/2019-20 dated April 02, 2019 issued by BSE and circular no. NSE/CML/2019/11 dated April 02 2019 issued by National Stock Exchange of India, Essar Shipping has informed that ‘Trading Window’ for dealing in securities of the company shall remain closed with effect from October 01, 2023 till 48 hours after declaration of Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2023, for the Designated Persons, their immediate relatives and other Insiders of the Company as covered under the Company’s Code of Conduct.

The above information is a part of company’s filings submitted to BSE.

Essar Shipping has received approval for Issue Upto 4,00,00,000 1% Non-Convertible Debentures (NCDs) of face value of Rs 100 each aggregating to Rs 400 crore, in one or more tranches, subject to the approval of shareholders and in accordance with the provisions of the Securities and Exchange Board of India and the Companies Act, 2013. The Board of Directors of the company at its meeting held on, August 25, 2023, has approved the same.

Essar Shipping is a part of Essar Group. The company is in to business of shipping and logistics with a focus on transportation solutions for the global energy business.

Essar Shipping is currently trading at its upper limit of Rs. 15.23, up by 0.72 points or 4.96% from its previous closing of Rs. 14.51 on the BSE.

The scrip opened at Rs. 15.23 and has touched a high and low of Rs. 15.23 and Rs. 15.23 respectively. So far 70678 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 15.23 on 28-Aug-2023 and a 52 week low of Rs. 6.95 on 26-Aug-2022.

Last one week high and low of the scrip stood at Rs. 15.23 and Rs. 12.41 respectively. The current market cap of the company is Rs. 315.22 crore.

The promoters holding in the company stood at 74.37%, while Institutions and Non-Institutions held 0.03% and 25.60% respectively.

Essar Shipping has received approval for Issue Upto 4,00,00,000 1% Non-Convertible Debentures (NCDs) of face value of Rs 100 each aggregating to Rs 400 crore, in one or more tranches, subject to the approval of shareholders and in accordance with the provisions of the Securities and Exchange Board of India and the Companies Act, 2013. The Board of Directors of the company at its meeting held on, August 25, 2023, has approved the same.

Essar Shipping is a part of Essar Group. The company is in to business of shipping and logistics with a focus on transportation solutions for the global energy business.

RITES has been emerged as lowest bidder (L-1) in the tender for Testing & Inspection of Rails as per IRS T-12 2009 for Indian Railways invited by Railway Board. The estimated order value is around Rs 65.4 crore.

Madhav Infra Projects has received Letter of acceptance (LOA) worth Rs 22.88 crore from Office of the Executive Engineer Public Work Department Bridge Construction Division 52-Chanayakapuri, Sachin Tendulkar Marg, Gwalior (M.P). The LOA is for Construction of railway over bridge in lieu of level crossing No 17 on Mungawali-Chanderi road in district Ashoknagar. The contract is to be executed in 24 months. 

Axiscades Technologies has completed the acquisition of add-solution GmbH, a German company specializing in automotive design and development with deep domain expertise in services such as Electrical Distribution System engineering, testing and software development, wiring systems, component engineering, and automation for global automotive OEMs. add-solution comes with deep entrenched relationships with the world’s largest Automotive OEM’s and Tier 1’s built over years of excellent delivery and differentiated competencies. 

BEML has bagged order from Ministry of Defence (Army) for supply of Command Post Vehicles with contract value of around Rs 101 crore.

Linde India has been awarded a ‘Letter of Acceptance’ (LoA) on August 22, 2023 by Indian Oil Corporation (IOCL) in connection with the job-work contract for setting-up of Air Separation Unit (ASU) on a site licensed by IOCL within its Panipat Refinery Complex for production and supply of Instrument Air, Plant Air and Cryogenic Nitrogen to IOCL Panipat Refinery Expansion Project (P25). On completion of the construction and the performance test of the aforesaid ASU, Linde India will enter into requisite Agreements with IOCL for operating and maintaining the facility for a period of 20 years from the first delivery date. 

Essar Shipping is planning to raise funds by way of issue of one or more instruments including convertible or Non-Convertible securities of any description or warrants or debt securities, through preferential issue, private placements or any other methods or combination thereof as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required, including the approval of the shareholders of the Company. The meeting of the Board of Directors of the Company is scheduled on August 25, 2023 inter alia, to consider and approve the same.

Wipro has launched a digital skills credentialing and verification initiative in India. The initiative aims to engage businesses, educational institutions and the government to create a standardized framework for credentialing and validation of skills. The initiative will make validation of credentials easier, faster and more reliable.