Exxaro Tiles Shares Surge 18% Post Announcement of Board Meeting to Consider Stock Split.

Key Takeaways from the Share Surge

• Exxaro Tiles has scheduled a Board of Directors meeting on October 14, 2024, to consider a stock split of its equity shares as per the Companies Act, 2013.
• Following the announcement on September 23, 2024, the company's share price surged by 18% in the first half of September 24, reflecting strong investor optimism.
• The trading window for Exxaro Tiles' shares is closed from September 23rd, 2024, and will reopen after 48 hours post-the-board meeting outcomes, adhering to SEBI's insider trading regulations.

The meeting is intended to consider and approve the sub-division or split of the company's equity shares, in line with Section 61(1)(d) of the Companies Act, 2013. This decision is part of a larger strategy to increase share liquidity and make the company's stock more accessible to investors. 

Following this announcement, the stock market reacted positively, with Exxaro Tiles' share price surging by 18% on September 24, 2024. Investors appear to be optimistic about the upcoming stock split, which is seen as a shareholder-friendly move. The trading window for the company's shares remains closed from September 23rd, 2024, and will reopen after 48 hours following the board meeting outcomes. 

About Exxaro Tiles Limited

Incorporated in 2008, Exxaro Tiles Ltd. is a leading manufacturer and trader of vitrified ceramic tiles. The company offers a wide range of over 1,000 designs in six different sizes, catering to both domestic and international markets. With a presence in 25 states across India and exports to six countries, Exxaro Tiles specialises in producing high-quality, durable tiles suited for a variety of applications.

Key Takeaways from the Order Win:

• Sterling and Wilson Renewable Energy Limited (SWREL) has secured two new domestic orders worth INR 512 crore.
• The orders include a DC photovoltaic plant in Gujarat and a DC photovoltaic plant in Maharashtra.
• Both orders are from existing clients, underscoring SWREL's strong market presence and robust execution capabilities.

As per a stock exchange filing, the first project involves the engineering, procurement, and construction (EPC) of a 200 MW AC/250 MWp DC photovoltaic (PV) plant in Gujarat, while the second order is for a 40 MW AC/65 MWp DC PV plant in Maharashtra. 

Both orders highlight SWREL's strong market presence and its ongoing relationships with existing clients, reinforcing its credibility in the renewable energy EPC sector.

Commenting on the order wins, Mr. Amit Jain, Global CEO, of Sterling and Wilson Renewable Energy Group said, “We are very happy to bag two more prestigious domestic solar projects from leading Private IPPs and these project wins showcase our strong positioning in a fast-growing market.” Both orders have been received from repeat clients thereby reaffirming our robust execution credentials. In the current year, out of the 6 major domestic orders received, 5 are from our existing clients showing the confidence customers have reposed in us to be a part of their growth in the domestic renewable market.“

About Sterling and Wilson Renewable Energy Limited

Sterling and Wilson Renewable Energy Limited (SWREL) is a global company specialising in providing complete solutions for renewable energy projects. They offer services like engineering, procurement, and construction (EPC) for large-scale solar, floating solar, and hybrid energy storage projects. SWREL has a total capacity of over 19.4 GWp in projects, either completed or in development.

The company also manages the operation and maintenance of 8.2 GWp of solar power plants, including those built by other companies. Operating in 28 countries, SWREL has a strong presence in regions such as India, Southeast Asia, the Middle East, Africa, Europe, Australia, and the Americas.

Key Takeaways from L&T Order Win in the Middle East: 

• Larsen & Toubro PT&D vertical received big orders in the Middle East for high-voltage electricity grid expansion.
• The company will build ±500kV High Voltage Direct Current links in Saudi Arabia to enhance interconnection and system strength.
• L&T has secured orders for two 380kV overhead transmission lines and a bulk supply 380kV GIS.
• Some of the major 400 kV Gas Insulated Substations including several necessary systems for enhanced grid performance to be constructed by L&T in Abu Dhabi will require Evac and CPM support.
• These projects are aimed at significantly increasing power transmission capacities and the reliability of electric grids within the region.

In Saudi Arabia, the company will establish ±500kV High Voltage Direct Current links to interconnect various regions of the national electricity network, bringing increased power exchange and system resilience. Other than that, L&T has won orders for two 380 kV overhead transmission lines and a bulk supply 380 kV Gas Insulated Substation to support renewable energy generation.

Additionally, the company has secured an important contract from Abu Dhabi, United Arab Emirates, for erecting two major 400kV Gas Insulated Substations to be executed along with necessary civil works, while Series Current Limiting Reactors, Auto Transformers, and other modern monitoring systems are included to enhance the power transfer capability of the grid.

T Madhava Das, Whole-Time Director & Senior Executive Vice President (Utilities) at Larsen & Toubro commenting on the development said, “The fortification and modernisation of transmission systems is the foremost step in establishing a secure, resilient grid capable of handling variable renewable generation in an evolving energy market.”

About Larsen & Toubro Limited:

Larsen & Toubro Limited is one of India's biggest and most respected private sector companies that focuses on EPC projects, high-tech manufacturing, and services. For more than 80 years with a strong customer-oriented approach and an unwavering commitment to world-class quality, L&T has unmatched experience in the areas of Technology, Engineering, Construction, and Manufacturing and all its core business areas.

With operations spread over more than 50 countries, L&T has been customer-centric for over eight years, which was instrumental in the company taking over and sustaining its leadership positions in key business streams.

The company operates in critical, high-impact sectors of the economy with a balanced portfolio offer across the entire value chain from design to delivery. All aspects of Larsen & Toubro's operations are characterised by professionalism and high standards of corporate governance, with sustainability as an integral part of its long-term growth strategy. L&T has an operating presence in eight countries other than India and has several international offices and a global supply chain.

Key Takeaways from the Announcement 

• Revolt Motors has announced that the RV1 and RV1+ electric motorcycles have achieved over 16,000 bookings in the first week of their launch.
• The RV1 costs ₹84,990 and the premium RV1+ is priced at ₹99,990 which are reasonable prices for an electric two-wheeler.
• The RV1 models were launched by the Minister of Road Transport & Highways, Nitin Gadkari.

The RV1 and RV1+ were officially unveiled on 17th September 2024 by Hon'ble Nitin Gadkari, Minister of Road Transport & Highways. Priced at ₹84,990 for the RV1 and ₹99,990 for the RV1+, both models offer an eco-friendly alternative to traditional two-wheelers, aligning with the rising consumer interest in electric mobility. 

‘Revolt Motors is dedicated to offering not just cutting-edge products but also world-class service, ensuring an unmatched ownership experience for its customers’, the company said in a stock exchange filing.

Commenting on the positive response, Mrs. Anjali Rattan, Chairperson of RattanIndia Enterprises Limited, shared, "We are deeply humbled by the unprecedented demand for the RV1. This monumental response not only strengthens our resolve but inspires us to continue leading the charge in India’s electric mobility revolution. The RV1 was designed with the everyday Indian commuter in mind, and to witness its acceptance at such a massive scale within a week is both thrilling and rewarding." 

About Revolt Intellicorp (Revolt Motors)  

Revolt Intellicorp, founded in 2017, is a leading player in India’s electric vehicle market. It focuses on providing advanced electric mobility solutions, introducing India’s first AI-enabled motorcycle that blends innovation, technology, and design. With a mission to make clean transportation more accessible, the company offers electric motorcycles along with genuine parts and accessories, ensuring a complete riding experience through its dealerships.

About RattanIndia Enterprises Limited  

RattanIndia Enterprises Limited, a publicly traded corporation, works within the RattanIndia group and assists innovative industries in building future growth. The company operates in several diversified industries, including electric mobility with Revolt Motors, e-commerce with Cocoblu Retail, fashion with Neo Brands, fintech with WeFin, and drone services through Neosky, thus playing an integral role in transforming several industries and benefiting society in a meaningful way.