Reliance Industries said its unit Reliance New Energy Solar Limited has invested 25 million euros to buy new shares of Germany’s NexWafe GmbH as part of a strategic partnership for the Indian market. RNESL has entered into an agreement with NexWafe, a company that produces high-efficiency monocrystalline silicon wafers, to acquire 86,887 series C preferred shares at 287.73 euros apiece, RIL said. Reliance also said that RNESL has partnered with Stiesdal A/S to develop and manufacture hydrogen electrolysers. RNESL has been given the licence for this, it said in an exchange filing. Stiesdal is a Danish company that develops and commercialise technologies on climate change mitigation.

Tata Motors said that private equity firm TPG Group would be investing Rs 7,500 crore in its new wholly-owned electric vehicle subsidiary. The investment would be made in tranches, over a period of 18 months from the date of completion of the first tranche. TML EVCo, the entity set up by Tata Motors for electric vehicles segment, will undertake passenger electric mobility business, the company said. The first round of capital infusion will be completed by March 2022 and the entire funds will be infused by end of 2022, it added.

Aviation stocks : Amidst the prevalence of the COVID-19 pandemic, India has permitted to operate domestic airlines with 100 per cent capacity from October 18. Currently, the seating capacity in airlines is restricted to 85 per cent. Shares such as Interglobe Aviation, Jet Airways and SpiceJet will remain in focus.

Indraprastha Gas has hiked the price of compressed natural gas (CNG) in Delhi-NCR by Rs 2.28 per kg. With the latest hike, price of CNG in the NCT of Delhi would be Rs 49.76 per kg, which will come into effect from Wednesday. The subsequent hike in price is announced just 11 days after the Centre increased the rate of domestic natural gas by 62 per cent. A day after the Centre's announcement, IGL on October 1 had hiked the price of CNG to Rs 47.48.

CL Educate Limited, has announced the sale of two plots of land in Faridabad and Amritsar. CL Educate, as a strategic decision, has been in the process of exiting asset heavy businesses over the last few years, including its K-12 business. As a part of this decision, the organization has been looking to convert its real estate bank (subject to necessary approvals, if required), which has a value of Rs. 65-70 Crores, into cash for redeployment in its core business.

Bhansali Engineering Polymers , which has been evaluating the brownfield ABS Expansion Project at its existing locations, has received proposals from Toyo Engineering (Toyo). It has its own 'Continuous Bulk SAN Line Licensed technology' which has been applied in various plants around the World (capacity exceeding approximately 1200,000 TPA). The proposal received from Toyo is based on the biggest Bulk San line set-up in China, being steady and operational for last more than 12 years. Further, the Company is also in receipt of the proposal from Nippon A&L Inc, (Joint Venture capitalized by Sumitomo Chemical Co Ltd. and Mitsui Chemicals, Inc.,) for Ultra-Modern latest High Rubber Graft (HRG) technology with full automation.

Power Finance Corporation: The Government of India granted Maharatna Status to Power Finance Corporation. The enhanced status will enable PFC to make equity investments, form financial joint ventures as well as wholly-owned subsidiaries and also oversee mergers and acquisitions within the country as well as abroad.

Astral Limited (Astral; erstwhile Astral Poly Technik Ltd, Astral; part of the Astral group) long-term bank facilities have been upgraded to 'CRISIL AA/Stable' from 'CRISIL AA-/Positive' while reaffirmed its short-term rating and commercial paper at 'CRISIL A1+' by country's leading rating agency, CRISIL. The rating upgrade replicates CRISIL expectations of sustenance of Astral's improved business profile supported by improved capacity utilization levels, wider geographic presence and product portfolio.

Centrum Capital: The Reserve Bank of India has issued a small finance bank licence to the consortium of Centrum Financial Services Limited (step down subsidiary), and Resilient Innovations Private Limited (BharatPe), Centrum said in an exchange filing. The new entity will take over the assets and liabilities of Punjab and Maharashtra Co-operative Bank. Centrum’s MSME and Micro Finance businesses will be merged into Unity Small Finance Bank.

The Board of Garnet International has approved the issue of 15 lakh convertible equity warrants of face value Rs, 10 each of the company at Rs 36 a Convertible Warrant aggregating to Rs 5.40 lakh crore on preferential basis to non-promoter allottees Nexpact Limited - 11 lakh warrants, Anoop Jain - 2 lakh warrants and Anoop Jain HUF - 2 lakh warrants.

Choice International Limited's step down subsidiary Choice Wealth Private Limited has acquired mutual fund distribution business of Centcart Money Services Private Limited. The said acquisition of the mutual fund distribution business of "Centcart" was a complete cashdeal, with a win-win situation for both the entities. The users of "Centcart" should be in position to access the research tools available on Choice's online platform for investing in mutual funds through our application "Investica", which facilitates investors to attain financial freedom.

Vipul Ltd has signed and entered a Joint Venture Agreement with Tulip Infratech Private Limited, for assigning of all development rights to carry out all developments activities in relation to residential project namely "Aarohan Residences" at Golf Course Road, sector-53, Gurugram, Haryana.

Happiest Minds Technologies: The company has entered into partnership with Tech4TH Solutions, a company incorporated in the U.S. Tech4TH provides digital services to worldwide companies in the Travel and Hospitality sectors.

Results calendar: Infosys, Wipro, Mindtree, Advik Laboratories, Aditya Birla Money, Morarka Finance, National Standard, Perfect-Octave Media Projects, Plastiblends India, Raghav Productivity Enhancers, SDC Techmedia, Sanathnagar Enterprises, Stratmont Industries and Unistar Multimedia .

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