Maruti Suzuki India Ltd has announced that there was a fire incident on Monday afternoon in the Company's Rohtak R&D centre in one of the buildings where a new lab expansion was being carried out by a third party project company. The fire was brought under control and the root cause is being examined along with the investigating authorities. Unfortunately, two people working with a contract firm of the project company succumbed to the fire. There have been no other injuries. "This incident does not affect the production operations of the Company," it said in a statement.
Wipro has acquired Convergence Acceleration Solutions, LLC (CAS Group), a US-based consulting and program management company that specialises in driving large-scale business and technology transformation for Fortune 100 communications service providers. CAS Group acquisition is yet another step in Wipro's transformation journey toward becoming a sought-after strategic partner for clients' most complex business transformation needs.
Info Edge India Ltd has invested about ₹.3.70 crore in Terralytics Analysis Private Ltd, which is engaged in the business of developing intelligence and analytics in real estate vertical for sale to banks, developers, consulting firms, etc. for diligence, information and other purposes. The company has agreed to acquire 6,650 Compulsorily Convertible Preference Shares as part of a larger fund raise exercise by Terralytics. Upon the successful closing of the said fund raise exercise, the aggregate shareholding of the Company in the said entity would be 20.50 per cent on a fully converted & diluted basis.
UltraTech Cement has been declared a preferred bidder for Diggaon limestone block. The block is adjacent to company's Rajashree unit and has total cement grade geological resources of 530 million tonnes of limestone over an area of 7.86 square km. . The company participated in the e-auction by the Karnataka government.
JSW Utkal Steel Ltd, a wholly owned subsidiary of JSW Steel Ltd, and part of the $13 billion JSW Group, has today received the environmental clearance (EC) for setting up of a greenfield Integrated Steel Plant (ISP) of 13.2 million tonnes per annum (MTPA) crude steel from the Union Ministry of Environment & Forest and Climate Change (MoEF&CC). The mega project will generate huge employment opportunities in the region, which in turn will boost the economy of Odisha state.
Welspun Corp has announced the acquisition of additional non-convertible debentures with outstanding of ₹39.97 crore for a purchase price of ₹13.59 crore by its wholly-owned subsidiary viz. Mahatva Plastic Products and Building Materials Private Limited (MPPBMPL) from existing lenders of Sintex BAPL Ltd (SBAPL). These NCD's have first & pari-passu charge on the movable fixed assets of SBAPL. The above acquisition of NCDs is not a related party transaction.
The board of 7NR Retail Ltd has approved issue of 12.86 crore shares at ₹1.80 a share, aggregating of ₹23.15 crore to all existing member of the Company on rights (right issue) aforesaid right comes in effect post preferential issue. The rights shares will be offered in the ratio of 1:1.
The board of WeP Solutions approved the Appointment of Ashok Tripathy, as Managing Director (MD) and Chief Executive Officer (CEO) of the Company w.e.f July 1, 2022. Ashok Tripathy is a distinction holder in Electronics and Electrical engineering from Birla Institute of Technology and an MBA from Xavier Institute of Management.
The board of Sumuka Agro Industries (Formerly known as Superb Papers Limited) has approved raising of funds of ₹5.05 crore by allotting 16.66 lakh equisy shares at ₹30.30 by way of preferential allotment.
Shiva Texyarn Ltd has received an order from Government of India, Ministry of Defence for supply of 35,000 NBC HAVERSACK MK-11 (Bags for Defence Personnel) worth ₹11.90 crore.
Results calendar: Anand Rathi Wealth, Evexia Lifecare, Gayatri Bioorganics, GM Breweries, Hathway Cable & Datacom and Tinplate Company of India will release quarterly earnings today.