Desco Infratech (BOM:544387) has received an order worth 31.5 million Indian rupees from Green Gene Enviro Protection and Infrastructure and KP Energy (NSE:KPEL, BOM:539686), according to a BSE filing on Tuesday.
The contract is for providing site remediation and cleaning services, and for the supply, installation, and cable laying work, including HDPE pipe supply, underground cable laying, and related infrastructure work.
TECO Electric & Machinery (TPE:1504) agreed to acquire Malaysian engineering firm Dynaciate Engineering for about 200 million ringgit, according to a Monday press release.Shares of the Taiwanese industrial conglomerate rose 1% at close of Tuesday's trade.The move will strengthen TECO Electric's AI data center infrastructure business in Southeast Asia, it said.The deal is expected to close before the end of August, with TECO taking a 78% stake.The company said Dynaciate will act as a manufacturing and engineering hub for modular data center production, helping speed up project delivery and improve execution capacity.
Hong Kong stocks held near unchanged on Tuesday as China stepped up oversight of cross-border investment activity while tensions in the Middle East persisted.The Hang Seng Index slipped 6.58 points to end fractionally lower at 25,599.45, while the Hang Seng China Enterprises Index rose 0.3%, or 26.02 points, to finish at 8,576.89.Beijing announced a sweeping crackdown on cross-border investment on Friday and said it would penalize brokers accused of illegally channeling funds into overseas markets.The securities regulator said online brokers Tiger, Futu, and Longbridge would be subject to penalties for conducting business with mainland investors without domestic licenses.Meanwhile, geopolitical tensions in the Middle East remained elevated after U.S. forces carried out strikes in southern Iran in what Washington described as defensive action.The strikes came as Iran's top negotiator and foreign minister were in Doha for talks with Qatar's prime minister on a potential agreement with the United States to end the three-month conflict.U.S. Secretary of State Marco Rubio also said negotiations with Iran could "take a few days," dampening expectations for a near-term resolution to the conflict.In corporate news, WuXi Biologics (Cayman) (HKG:2269) closed over 5% higher after announcing plans to repurchase up to $400 million worth of shares from the open market.
Wangli Security & Surveillance Product (SHA:605268) is looking to raise up to 300 million yuan for the issuance of up to 133.9 million shares to 35 investors in a private placement, according to a Tuesday filing with the Shanghai bourse.The company will allocate up to 210 million yuan in proceeds for its intelligent door and window series product project and 90 million yuan to boost working capital.