DCX Systems has received a contract/ order for ₹1,250 crore from Larsen & Toubro, India for manufacture and supply of electronic modules. The order is expected to be completed within three years.
Cupid has entered into a strategic partnership with SAP to implement the cutting-edge ERP system, SAP S/4HANA Cloud. This initiative underscores Cupid’s dedication to enhancing operational efficiency, improving decision-making processes, and driving sustainable growth through advanced technology. The integration of SAP S/4HANA Cloud will equip Cupid with a comprehensive suite of integrated applications, facilitating superior real-time data processing and analysis. This will enable more efficient resource management, supply chain operations, and new B2C distribution channels.
Plutus Wealth Management LLP on Monday sold a 2 per cent stake in Religare Enterprises for ₹170 crore through an open market transaction. According to the bulk deal data available on the National Stock Exchange (NSE), Plutus Wealth Management LLP offloaded 71 lakh shares, amounting to a 2 per cent stake in diversified financial services group Religare Enterprises Ltd (REL). The shares were disposed of at an average price of ₹239.05, taking the transaction value to ₹169.72 crore. After the stake sale, Plutus Wealth Management’s shareholding in REL has declined to 3.97 per cent from 6.07 per cent. Meanwhile, Societe General picked up 50.50 lakh shares of REL at an average price of ₹239 per piece.
Edible oils major Patanjali Foods Ltd on Monday said it will acquire Baba Ramdev-led Patanjali Ayurved’s home and personal care business for ₹1,100 crore, as part of its efforts to become a leading FMCG company. Patanjali Ayurved Ltd (PAL) is one of the promoters of Patanjali Foods. The acquisition falls under related party transactions being undertaken on a fair value and arm’s length basis.
IOL Chemicals & Pharmaceuticals Ltd (IOLCP) has said the company’s product, fenofibrate, has received approval from the National Medical Products Administration (NMPA) of China. This regulatory nod will enable IOL Chemicals to export its fenofibrate active pharmaceutical ingredient (API) to the Chinese market.
ITC Hotels on Monday announced its foray into West Bengal with the opening of Storii Devasom Resort & Spa, Kolkata, spread across 3 acres of land. “The launch of Storii Devasom Spa & Resort in Kolkata strengthens our presence in eastern India and is a significant addition to our bouquet of offerings in West Bengal.