Tech Mahindra has informed the exchanges that it has acquired 100 per cent stake in Activus Connect, a leading provider of ‘work at home’ customer experience management solutions. The acquisition will bolster Tech Mahindra’s capabilities in emerging workplace solutions and strengthen end-to-end CX portfolio.

Jet Airways’ new owner, the Jalan Kalrock Consortium, plans to infuse additional funds into the airline even as the earlier committed investment of ₹350 crore is being fast-tracked. Speaking to BusinessLine , Ankit Jalan, partner of the Jalan-Kalrock Consortium, said, “We had envisioned infusing ₹350 crore in the first six months; this was our commitment in the plan, but we see that being fast-tracked as we realised that to rebuild an airline, we would need more than that.”

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PTC India Financial Services Ltd has informed the exchanges that it will receive its share of around ₹125 crore as part of the total resolution amount from one of its stressed loan accounts in the thermal segment, namely the 2x600 MW coal power plant located at Cuddalore District in Tamil Nadu. The project has been implemented by IL&FS Tamil Nadu Power Company Ltd. (ITPCL).

PFS had sanctioned total loan of ₹200 crore under consortium arrangement to ITPCL to implement the instant project. Currently, the IL&FS group is undergoing resolution process and ITPCL has been classified as an ‘Amber’ Entity i.e. an entity that is not able to meet its entire obligations during the Testing Period (as defined by the NCLAT Order dated October 15, 2018) but can only meet operational payment obligations and payment obligations to senior secured financial creditors.

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State Bank of India has invited bids from asset reconstruction companies, and other financial institutions to sell an NPA account KSK Mahanadi Power Company, with total outstanding against the company standing over ₹4,100 crore. “In terms of the bank’s policy on sale of financial assets, in line with the regulatory guidelines, we place the account (KSK Mahanadi) for sale to ARCs/Banks/NBFCs/FIs,” SBI said in an auction notice. The e-auction of KSK Mahanadi is scheduled to take place on December 31, said a PTI report.

Anjani Portland Cement Limited has received a notice for about ₹16.72 crore from Southern Power Distribution Company of Telangana Ltd (A Govt of Telangana Undertaking), demanding differential wheeling/transmission charges between the tariffs and wheeling agreements. The company is examining the demand notice and will take appropriate action under law.

Lupin has signed a marketing pact with Biomm SA to distribute and market biosimilar Pegfilgrastim in Brazil. Under the terms of the agreement, Biomm will distribute and market biosimilar Pegfilgrastim in Brazil. Lupin had earlier received the US FDA acceptance of the Biologics License Application (BLA) for its proposed biosimilar to Neulasta® (pegfilgrastim) through a filing using the 351(k) pathway.

Carborundum Universal Limited : CUMI International Limited, Cyprus, a wholly-owned subsidiary of the company, has entered into an agreement to acquire an existing company in Germany which will become a step-down subsidiary of CUMI. This acquisition will help towards a base in the European Union (EU), facilitating CUMI Group accessing markets in EU. The proposed step-down subsidiary will facilitate CUMI Group accessing markets across the European Union for all its portfolio viz., Abrasives, Ceramics and Electrominerals.

Greenlam Industries has acquired 34,70,566 equity shares representing 74.9 per cent of the total paid-up equity share capital of HG Industries at ₹40.10 a share from Saurabh Mittal, Parul Mittal, Shiv Prakash Mittal and S. M. Safeinvest Private Limited (forming part of promoter and promoter group of HG Industries), pursuant to the Share Purchase Agreement executed between the Company and Sellers dated August 28. However, none of the public shareholder has tendered Equity Shares in the said Open Offer (between October 27 and November 11) and consequently, no consideration was required to be paid to the public shareholders of the Target Company, it said.

Narayana Hrudayalaya will be set up in Hampton project on NH-05 (Ludhiana-Chandigarh Highway) and will be spread over 2 Lakh sq ft with a capacity of 225 beds. The hospital will provide healthcare and diagnostic facilities to the people of Punjab. This will be the first ever multi-speciality hospital by Narayana Hrudayalaya in Ludhiana and mark its foray into Punjab. The hospital is estimated to be operational by 2024.

RSWM Ltd , a group company of the LNJ Bhilwara, is foraying into knitted fabric in line with the demand trend, which will contribute ₹800 crore to its top line over the next two to three years. RSWM Ltd is also exploring opportunity into garmenting fabrication franchising as international brands are now keen on finished garments rather than buying yarns.

GSS Infotech : The Board of directors has approved the issuance of 28 lakh convertible warrants to promoters and non-promoters at ₹107 a convertible warrants, aggregating up to ₹29.96 crore on Preferential basis. Allottees can apply for and be allotted one equity share within a period of 18 months from the date of allotment of the warrants.

Nxtdigital : The board has approved the allotment of 96,20,463 rights equity shares of face value of ₹10 each at a price of ₹300 per rights equity share, including a share premium of ₹290 per rights equity share.

Arihant Capital Markets : A tripartite share purchase agreement has been executed by and between Electrum Portfolio Managers Ltd (formerly Known as Arihant Asset Management Ltd) Arihant Capital Markets Ltd and Electrum Capital Private Ltd (the acquirer) to sell and transfer the entire equity stake held by the wholly-owned subsidiary, referred to as Electrum Portfolio Managers to Electrum Capital Private Limited. After the transfer of entire stake Electrum Portfolio Managers Limited would cease to be a subsidiary of the company.

Cheviot: The Board of Cheviot has approved a proposal for buy-back of up to 2,50,000 fully paid-up ordinary shares of the company of face value of ₹10 each, representing 3.99 per cent of the present total number of fully paid-up ordinary share capital of the company, at a price of ₹1,725, aggregating to ₹43.12 crore. This represents 8.61 per cent of the aggregate paid-up capital and free reserves as per latest stand-alone audited financial statements of the company for the financial year ended March 2021. The board has fixed December 17 as the record date for the purpose of determining the members/beneficial owners, the buyback would be on a proportionate basis through the tender offer route.

Steelcast has signed a long-term supply agreement with a large original equipment manufacturer (OEM) in the US, to supply steelcastings for the North American Rail-road industry. This new agreement will help further consolidate the company’s position in overseas market. Amidst a challenging environment, the entry into North American rail-road industry will help it de-risk the business and generate additional revenues, according to the company.