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Infosys and chip giant Intel on Wednesday announced expansion of their strategic collaboration to assist global enterprises in accelerating their AI journeys. The advanced artificial intelligence (AI) solutions offered as a part of this partnership will aim to help businesses become cost-effective and performance-driven while being responsible by design, according to a joint release.
TVS Supply Chain Solutions Ltd on Thursday said it has achieved supply of five lakh completely knocked down (CKD) kits to its major customer and two wheeler manufacturer TVS Motor Company. The milestone was achieved at its dedicated warehouse facility in Hosur, Tamil Nadu.
Dr Reddy’s Laboratories has launched drug-free non-invasive migraine management wearable device Nerivio in Germany through its step-down subsidiary betapharm. The launch marks the company’s entry into digital therapeutics in Europe. Nerivio is approved by the United States Food and Drug Administration (USFDA), and is CE-mark certified in Europe.
The US health regulator has pulled up Kilitch Healthcare India for manufacturing lapses, including packing drugs in insanitary conditions at its Maharashtra-based plant. In a warning letter to the company’s Managing Director Paresh Mehta, the US Food and Drug Administration (USFDA) pointed out various lapses at the Navi-Mumbai plant which produces finished pharmaceuticals.
Larsen & Toubro Ltd has completed the sale of its entire equity stake in L&T Infrastructure Development Projects Ltd (L&T IDPL) to Epic Concesiones Pvt Ltd., a joint venture between L&T and Canada Pension Plan Investment Board (CPP Investments) holding 51 per cent and 49 per cent shares, respectively.
The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea filed by four unit buyers of Parsvnath Landmark Developers to initiate insolvency proceedings against the subsidiary of Parsvnath Developer. The appellate tribunal upheld the orders of the Principal Bench of the National Company Law Tribunal (NCLT), which on October 17, 2023, rejected their plea on technical grounds as the number of petitioners was only four, while the total number of allottees by Parsvnath Landmark is 488.
Uno Minda (formerly known as Minda Industries), a leading manufacturer and supplier of proprietary automotive solutions and systems to original equipment manufacturers, has marked a significant milestone with the ground-breaking ceremony for its upcoming greenfield passenger vehicle alloy wheel plant with a capacity of 120,000 wheels per month at IMT Kharkhoda, Haryana. The plant with a capital outlay of ₹542 crore will be set up in a phased manner over the next 5 years with phase-1 commissioning in Q2 FY26.
360 One WAM (formerly IIFL Wealth Management) on Wednesday divested a 5.3 per cent stake in Protean eGov Technologies for ₹241 crore through open market transactions. 360 One Group through its affiliates, 360 One Special Opportunities Fund Series 5, IIFL Special Opportunities Fund Series 5 and 360 One Special Opportunities Fund Series 4 sold 21,48,841 shares or 5.3 per cent stake in Protean eGov Technologies through separate bulk deals on the BSE, per the data on the exchange.
Computer Age Management Service has received RBI authorisation to operate as an online payment aggregator.
Maharashtra Seamless has won order worth ₹674 crore from ONGC for supply of casing seamless pipes. Gradual dispatches of the order will be done within a period of 44 weeks, it said in a release to the exchanges.
Sequent Scientific has provided guarantee and pledged 99.99 per cent equity shares of its Indian subsidiary Alivira Animal Health Ltd. (India) and 100 per cent equity shares of its overseas subsidiary Alivira Animal Health Ltd. (Ireland) in favour of Catalyst Trusteeship Ltd. to secure a term loan facility of ₹150 crore to be availed by the Indian subsidiary and a term loan facility worth up to $25 million to be availed by the Ireland unit. Both loans will be availed from Barclays Bank Plc. The move is pursuant to its debt restructuring process and in accordance with shareholder approval obtained via postal ballot, the company said.
HFCL has issued corporate guarantees in favour of SBICap Trustee Company Ltd to secure term loans worth ₹378.02 crore for its subsidiary.
Zaggle Prepaid has entered into an agreement with Yokohama India Pvt. ltd. for its Zaggle Save offering. The contract is for a period of two years.
Cavite Biofuel Producers Inc., Philippines, a step-down subsidiary of Isgec Heavy Engineering, has commenced commercial operations at its new ethanol plant in the Philippines.
Oil India Ltd (OIL) said an incident of leakage was reported at the X-Mass Tree of well No. BGN#24 located at the Dighaltarang Tea Estate in Assam’s Tinsukia district. An internal enquiry is being conducted for a thorough investigation and OIL reassures that the well is in completely controlled & closed condition. An on-site assessment team of OIL is formed to assess the affected areas immediately. The OIL team is taking up measures for remediation of the affected area.
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