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Orchid Pharma: The board of directors of has considered and approved a draft Scheme of Amalgamation and Arrangement between Dhanuka Laboratories Ltd. Upon coming into effect of the scheme, the company will issue and allot to the shareholders of DLL 63 equity shares of ₹10 each for every 2 shares of ₹100 each of DLL.
Car Trade Tech Ltd plans to deploy up to ₹750 crore to strategically acquire and invest in companies that are driving innovation in all aspects of automobile ecosystem which includes auto-finance, leasing, insurance, servicing, car ownership, EVs and new age tech.
Engineers India Ltd and the Institute of Chemical Technology have signed a Memorandum of Agreement (MoA) for joint development of technology for large scale cultivation of algae and extraction of value-added products. The MoA will not only enrich EIL’s and ICT’s technology portfolios, but also mark a significant step in the direction of the government’s push towards biofuel initiative.
RITES/BEML: RITES Ltd has signed a memorandum of understanding (MoU) with BEML Limited to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock. As part of the MoU, RITES will provide expertise in design, engineering, marketing and any other support that may be required for tapping domestic and overseas opportunities while BEML will be responsible for manufacturing of customised metro coaches and rolling stock.
Hindustan Petroleum Corporation Limited (HPCL) has recently launched the poWer100 ultra premium fuel for supercars and bikes. poWer100 is one of the highest octane rating petrol in India. poWer 100 has superior anti-knocking properties to improve engine power resulting in faster acceleration, better fuel economy and smooth ride.
Greenpanel Industries: Because of delay in import of component of refiner from Sweden due to logistics, the estimated time for repair of refiner, as informed earlier, has been extended further. The normal operation of MDF Plant at Rudrapur is expected to be resumed by December 26, said Greenpanel Industries.
Persistent Systems: ATOSS, a Germany-based software provider for workforce management with over 10,000 customers worldwide, has selected Persistent to transform its customer relationship management with the help of Salesforce integrations. Persistent is a leading global Salesforce consulting and implementation partner delivering digital transformation at scale. ATOSS will use the Salesforce platform to automate sales, integrate with existing back-end systems and introduce customer service and event management.
Warren Tea Limited has decided to dispose of one of its tea estate namely Balijan North Tea Estate located at Post Chabua, Dibrugarh, Assam. The gross consideration is ₹27 crore. This monetisation process of the asset of the company is to turn around the financial prowess, reduction in finance cost, availability of more working capital, profit earning capability of the company, to modernize and to upgrade the remaining business assets.
Swan Energy Limited has decided to join Hazel Mercantile Limited (HML), as a strategic partner through a SPV, in the event the resolution plan, submitted by HML to acquire Reliance Naval and Engineering Limited (RNRL) from NCLT, is approved.
KPI Global Infrastructure Ltd has received confirmation of the orders for executing solar power project of 2.78 MWdc capacity - Parag Syntex Private Limited - 1.40MWdc and Shivram Dyeing & Printing Mill - 1.38MWdc - under ‘Captive Power Producer (CPP)’ Segment of the Company.
Kings Infra: The Board of Directors of Kings Infra Ventures Limited (Kings Infra) has considered and discussed about the incorporation of new subsidiary Company Kings Maritech Eco Park Limited. Kings Infra will provide the land for KMEPL project. KMEPL will function as a separate entity on its own. ITCOT Ltd, Chennai which is a joint venture of all India financial institutions, State financial and Industrial Development Corporation and commercial Banks has been assigned the work of preparing the DPR for this project.
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