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KS Badri Narayanan Chennai | Updated on September 08, 2021

EID Parry, Wipro, RailTel, TVS Motor, PSP Projects, Shree Ganesh Remedies

EID Parry: The board of directors of EID Parry India has approved the setting up of a 120 KLPD grain/sugar syrup/molasses based distillery at the company's Sankili unit in Andhra Pradesh. The existing capacity of the company is 297 KLPD and the capacity utilisation is 90-95 per cent. The new capacity at an outlay of ₹92.50 crore is expected to be added by November 2022. The Government of India has announced an ethanol blending programme of 20 per cent by the year 2025. The company intends to avail this opportunity by increasing its foray into Ethanol production.

RailTel Corporation of India has received an additional order from Indian Railways for implementation of ‘Hospital Management Information System’ over Indian Railways at the cost of ₹42.38 crore (inclusive of GST). The work is to be implemented over one year with further upgrades and support for five years.

PSP Projects Limited on Tuesday informed the exchanges that it is in receipt of Letter of Intents for projects worth ₹132.57 crores (excluding GST) towards Industrial and Precast segment from different clients in Gujarat.

Wipro Limited, a leading global information technology, consulting and business process services company, announced a partnership with Securonix, a Gartner Magic Quadrant Leader SIEM (Security Information and Event Management) vendor, and provider of the Securonix security operations and analytics platform. The partnership brings together Securonix's cloud-first SIEM, analytics-driven detection and automated response tools with Wipro's global reach and cybersecurity intelligence capabilities to provide organisations with improved governance and security threat protection.

TVS Motor Company, a reputed two-wheeler and three-wheeler manufacturer, has announced their new distribution partnership with ETG Logistics, which is a division of ETG (Export Trading Group) - a global conglomerate present in 48 countries with expertise across various industries. ETGL will operate 30 dealerships for TVS Motor Company in South Africa as part of this partnership. The company will also support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM), including the assembly set-up and training centre in Johannesburg.

Shree Ganesh Remedies: The board of Shree Ganesh Remedies has decided to enter into the Share Purchase Agreement to acquire the 74 per cent stake of Dhari Chemicals, which was incorporated to carry on the business of manufacturing of speciality chemicals, chemical compounds, (organic and in-organics) in all forms (solid, liquid and gaseous) and of all kinds of solvents, alkalies, intermediates, chemical auxilliaries, disinfactents, biochemicals and its related preparations, articles and products. DCL holds leasehold rights admeasuring an area about 40,554.30 sq. mt. in Dahej-II industrial Corporation, Bharuch, Gujarat, for which the down payment is already paid and balance instalments will be paid as per terms of the lease deed. Further, the company will also take steps to complete the acquisition of remaining 26 per cent equity stake from existing shareholders.

Vidhi Specialty Food Ingredients has set up a 2 MW solar power plant at Rambhapur, Maharashtra, which will support the company's green energy requirements for its manufacturing unit. It will also help the company in reducing carbon emissions. The total cost of the project (including land) is ₹9 crore approx. which was fully funded by internal accruals.

Published on September 08, 2021

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