Allcargo Logistics, the largest integrated player in the private sector, has picked up a 75 per cent stake in its European rival Fair Trade for 12 million euros, valuing the German company at 16 million euros. The city-based company said the acquisition will be carried out by its European subsidiary Allcargo Belgium, which operates as ECU Worldwide.
L&T Technology Services Ltd, a global pure-play engineering services company, is to acquire the Smart World & Communication (SWC) business of L&T, enabling LTTS to combine synergies and take its offerings in next-gen communications, sustainable spaces and cybersecurity to the global market.
ITI Ltd’s Palakkad plant has bagged two laptop orders from Kerala Infrastructure and Technology for Education (KITE) for the supply of 6,600 units and 1,883 units worth Rs 22 crore and Rs 3 crore, respectively. Launched under the ‘Make in India’ initiative, ITI offers SmaasH-trademarked micro PCs, desktop PCs, laptop computers, and video conferencing cameras, among other ICT products, which are currently available for sale in standard market configurations.
Private equity major Apax Partners’ arm, Dynasty Acquisition, is likely to sell its entire stake (up to 1.73 crore shares or a 4.63 per cent stake) in Shriram Finance via a block deal on January 13, according to media reports. Reports indicate that Apax will offer up to a 6 per cent discount on the deal size, which is pegged at is Rs 2,250 crore.
Rama Steel Tubes has signed an MoU with the UP government to set up a steel processing unit, including MS pipes, STP poles, GI pipes, CR coils, GP coils, and colour-coated coils. The proposed ₹600-crore will be invested in a phased manner.
The board of Indian Infotech and Software has approved the raising of funds through issuance and allotment of 26,14,53,270 equity shares on rights issue basis, on terms and conditions to be decided by the board.
Raj Oil Mills has launched a new mustard oil product “Khloa”, which will cater to the mass market across India. The target customers are in Tier-ll and Tier-lll cities, it said.
The government has appointed Sandeep Jain as Director (Projects) in Ircon International. He has been entrusted with the additional charge of Director (Projects) till the appointment of a regular incumbent to the post or until further orders, whichever is earlier.
V-Guard Industries has completed acquisition of 100 per cent shareholding in Sunflame Enterprises for ₹680.33 crore. Of this, ₹25 crore will be paid to the selling shareholders two years from the date of closure.
Markets may open positive, but FPI-selling could hurt sentimentAnalysts see a positive in India Inc results, macroeconomic numbers
Results: Aditya Birla Money, Anup Engineering, Archit Organosys, Artson Engineering, Choice International, Ganesh Housing Corporation, Gujarat Hotels, Hathway Bhawani Cabletel, Jupiter Industries, Just Dial, L&T Finance Holdings, Laffans Petrochemicals, Raghav Productivity Enhancers, Rajnish Wellness and Wipro.