Antony Waste, Ashok Leyland Orders & Funding Boost

Antony Waste Handling Cell, Ashok Leyland, Escorts Kubota, and South West Pinnacle Exploration announced significant business developments, spanning new orders, funding rounds, and price adjustments.

Antony Waste Secures Greater Noida Order

Antony Waste Handling Cell received a substantial order from the Greater Noida Industrial Development Authority. This involves the procurement and engagement of Electric Mechanical Road Sweeping Machines, alongside comprehensive Operations and Maintenance for five years.

• Project revenue for the 5-year period is approximately Rs 243.22 crore.
• The order covers roads under the jurisdiction of Greater Noida (East Zone).

The company, a prominent player in India’s Municipal Solid Waste (MSW) management industry, provides a full spectrum of MSW services.

Ashok Leyland Raises Debt Capital

Ashok Leyland successfully raised capital through the issuance of non-convertible debentures (NCDs). This strategic move bolsters the company’s financial position by diversifying its funding sources.

• Capital raised: Rs 300 crore.
• Coupon rate: 7.50%.
• Tenure: two years.

Escorts Kubota to Adjust Tractor Prices

Escorts Kubota’s Agri Machinery Business division has declared an upcoming price increase for its range of tractors. This adjustment, effective from November 1, 2023, reflects prevailing market dynamics and input costs.

• Effective date: November 1, 2023.
• Price increase: up to 1.5%.

South West Pinnacle Wins Coal Exploration Contract

South West Pinnacle Exploration secured a Letter of Award (LoA) for a significant project. The contract was awarded by the Central Mine Planning & Design Institute Limited (CMPDI), an important institutional client.

• Project scope: Detailed exploration of coal.
• Location: Jharkhand.
• Contract value: Rs 17.65 crore.