Reliance Industries' telecom vertical Jio Platforms has agreed to buy stake in Silicon Valley artificial intelligence startup Two Platforms Inc. as the Mukesh Ambani-controlled group continues to expand its digital business. Jio Platforms will invest $15 million in the startup for a 25 per cent stake, the company said in a statement. Two is an artificial reality company with focus on building interactive and immersional AI experiences. The company’s platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming.
Telecom operator Bharti Airtel has plans to spend about ₹1.17 lakh crore through business transactions with its subsidiaries like Indus Towers, Nxtra and Bharti Hexacom, according to a regulatory filing. The company will hold an extraordinary general meeting of the members of the company on February 26 to also seek their approval for issuing shares to Google for its about ₹7,500 crore investment in the company to buy 1.28 per cent stake.
Real estate firm Godrej Properties has decided not to go ahead with DB Realty investment. The company said the decision was taken after receiving shareholders' feedback. On Friday, the company's scrip fell nearly 10 per cent on BSE. "After prolonged discussions and taking into consideration the feedback from the stakeholders and minority investors, the Board has decided not to proceed with any further evaluation of potential investment in the equity capital of the DB Realty and the Platform. "The Company may however continue to explore the possibility of evaluating projects with DB Realty on a case to case basis," said Godrej Properties in a stock exchange filing. On Thursday, Godrej Properties said it will invest ₹400 crore to acquire around 10 per cent stake in DB Realty and another ₹300 crore to set up a joint platform for undertaking slum redevelopment projects.
NTPC: Consequent upon successful commissioning, second part capacity of 74.88 MW out of 296 MW Fatehgarh Solar PV Project at Jaisalmer, Rajasthan, is declared on Commercial Operation from February 5. With this, commercial capacity of NTPC and NTPC group has become 54377.30 MW and 67832.30 MW respectively.
Brightcom Group Ltd has signed a Letter of Intent (LOI) to acquire a US-based digital audio company via an asset purchase transaction to tap the rapidly growing audio advertising market. The name of the target company has been kept confidential in light of the confidentiality clause of the LOI. A definitive agreement will follow after completing the confirmatory business, legal and financial due diligence.
PG Electroplast Limited has entered into an agreement with Solarstream Renewable Services Private Limited to acquire 10.1 per cent equity of the latter for solar power generated at the Solar Power Plant to meet the electricity requirement for the Company's manufacturing plants located at Greater Noida, Uttar Pradesh.
Aarvee Denim, Borosil, Butterfly Gandhimathi Appliances, Camlin Fine Sciences, Castrol India, Chemcon Speciality Chemicals, Clean Science and Technology, Compuage Infocom, Fortis Malar Hospitals, Future Supply Chain Solutions, Gabriel India, Glaxosmithkline Pharmaceuticals, Gokul Refoils, Gujarat State Finance, Indo Count Industries, Indian Bank, JM Financial, Jindal Stainless, Kamat Hotels, Kanchi Karpooram, KPR Mill, Lasa Supergenerics, Likhitha Infrastructure, Minda Industries, MM Forgings, Modipon, Mold Tek, NALCO, Nucleus Software Exports, Paisalo Digital, Peninsula Land, Phoenix Mills, PB Fintech, Precision Wire, Punjab & Sind Bank, Quint Digital, Sansera Engineering, SH Kelkar and Company, Shivam Autotech, Simplex Realty, Talbros Engineering, Tarsons Products, Texmaco Infrastructure, Texmaco Rail, Tube Investments of India, TVS Motor Company, Union Bank of India, Uniphos Enterprises, Uninted Van Der, Valiant Organics, Voith Paper and Zodiac Energy, will release quarterly earnings on February 7.