Infosys has said it has been selected by Finland-based Orion Corporation to holistically transform its ERP and Planning platforms, enhance employee experience, and drive business value realisation. Through this engagement, Infosys will adopt standardised best SAP practices to enable end-to-end visibility across Orion’s operations, informed decision making, and reduce business operations cost through AI, ML, and robotic process automation (RPA).

Reliance Naval and Engineering will remain in focus on reports that a consortium led by Mumbai-based industrialist Nikhil V Merchant has won the bid to acquire Reliance Naval and Engineering Ltd. According to media reports, Hazel Mercantile Pvt Ltd, the consortium backed by Merchant and partners, emerged as the top bidder.

Debt-laden Vodafone Idea has paid ₹1,500 crore to IDFC First Bank along with ₹110 crore interest. In an exchange filing to the NSE, Vodafone Idea notified that it had made timely payment of principal amount together with interest for certain debentures. These debentures were due on December 13 and the payment was made on time on Monday evening.

Natco Pharma through its affiliates is proposing to enter into an agreement to acquire Dash Pharmaceuticals LLC subject to the satisfactory completion of due diligence, execution of definitive agreements and compliance with statutory requirements.

Also read: Day Trading Guide for December 15, 2021

Dash is a front-end pharmaceutical sales, marketing and distribution entity based in New Jersey, US which is expected to have approximate net sales of $15 million for the year ending December 2021. This acquisition provides Natco with a front-end to engage with its customers directly in the US which is the largest pharmaceutical market in the world. The cash consideration for the above acquisition is $18 million.

EKI Energy Services : With the view of expanding its presence in the global carbon market and grabbing the business opportunity in overseas countries, EKI Energy Services Ltd has incorporated an offshore wholly owned subsidiary company named Enking International FZCO in Dubai free zone (IFAZA) on December 12.

The subsidiary will carry on business in the line with climate change, sustainability and supply of offset. The subsidiary will help in opening up access to new markets for products and services, expanding brand recognition and enabling global expansion.

GR Infraprojects has informed the exchanges the project “development of Purvanchal Expressway from Sidhi Ganeshpur to Sansarpur in Uttar Pradesh on EPC basis” has been provisionally completed. Subsidiaries GR Amritsar Bathinda Highway Private Limited and GR Ludhiana Rupnagar Highway Private Limited have executed the concession agreement with the National Highways Authority of India on December 14.

The provisional completion certificate has been issued by the independent engineer on December 7 and has declared the project fit for entry into commercial operation with effect from November 8. The contract size was ₹1,497 crore.

The board of directors Mold-Tek Packaging has approved the launch of QIP December 14 and fixed the floor price as ₹722.40 a share.

The Board of Directors of HDFC Asset Management Company has approved the incorporation of a wholly-owned subsidiary of the company in Gujarat International Finance Tec-City (Gift City), in the name of HDFC AMC IFSC Limited or HDFC AMC International (IFSC) Limited or such other name as may be approved by the Registrar of Companies.

Also read: Shriram Transport Finance (₹1,384.75): SELL

Sandhar Technologies , a leading vehicle components manufacturer, has inaugurated its manufacturing facility at Nalagarh, Himachal Pradesh. The unit will be manufacturing sheet metal components/parts such as frame parts, complete frames, handlebars, swing arms and other sheet metal parts for two-wheelers. The addition of this manufacturing facility will strengthen Company’s presence in the sheet metal components space within the two-wheeler segment.

SMS Lifesciences India has executed a share purchase agreement and share-subscription agreement with ChemWerth Inc. USA, strategic investor and their associates, on December 13, for divestment of up to 10 per cent shareholding in Mahi Drugs, and raising fresh equity in Mahi Drugs, on a private placement basis.

The Board of Raminfo Ltd with the help of a virtual presentation has discussed the diversification strategy through organic and inorganic methods. The Board also reviewed the verticals of energy, agri-logistic and healthcare verticals and concluded for geographical expansion and capacity building to align the present business model with the diversification strategy.

Related Topics
comment COMMENT NOW