The Board of Directors of JK Cement Ltd has approved entering into Paint business through a wholly owned subsidiary to undertake manufacturing, selling, trading, importing and exporting and otherwise dealing in all types of paints and allied products and servlces. The board has approved an investment of up to ₹600 crore spread over the first 5 years.
The board Hatsun Agro Product will be held March 9 to consider and approve the proposal for the sale of assets of the RTE (Ready to Eat) business and its brand "Oyalo" to the prospective buyer and decide the modalities of agreement to be entered in to and treatment of Sale transaction.
Emami has acquired 19 per cent equity stake in Tru Native F&B Pvt Ltd for an undisclosed consideration. Tru Native F&B Pvt Ltd markets nutrition products under the brand TruNativ.
Dilip Buildcon Ltd has executed the EPC agreement with the Rail Vikas Nigam Limited, Chandigarh. The project is for construction of tunnels bridges and formation works in Bilaspur, Himachal Pradesh.
Kennametal India's management has signed a long-term settlement with the Kennametal India Employees Association. The Workers' Union had earlier sent strike notice for non-fulfillment of Charter of Demands. The Management and the Workers' Union had negotiations followinig which the strike notice was withdrawn by the Workers' Union. This settlement is a positive step in the direction of strengthening their mutual relationship.
Promax Power Limited, a Power and infrastructure EPC company has secured fresh orders of ₹43 crore across its various business verticals. It has secured new order worth ₹22.77 crore for water project. Promax Power has been declared as lowest bidder for the order worth of ₹13.67 crore for construction Power Package for an Industrial Project. Earlier, the company had signed contract for ₹6.54 crore for construction 66 kV Substation for 120 MW Solar PV plant in Guajrat.
Info Edge India Ltd has invested ₹91 crore in Aisle Network Private Limited through its wholly owned subsidiary. Aisle is engaged in the business of running multiple dating platforms on the web via its mobile apps Aisle, Anbe, Arike and HeyDil. These platforms allow users to browse through profiles of other users with the intent of finding their suitable partner.
The Board of Directors of Ultramarine & Pigments Limited has approved the revised project cost relating to the greenfield project under implementation through the wholly owned subsidiary for manufacturing Pigments at Industrial Park - Naidupet, Nellore district, Andhra Pradesh. The project cost is revised considering the additional equipment including pollution control equipment and cost escalation due to additional civil construction. The board approved the proposed Specialty Chemical Project for capacity addition of 1,800 MT at an outlay of ₹21.15 crore. The mode of financing will be through mix of internal accruals and debt. The capacity is to be added in a phased manner from 3rd quarter of FY 2022-23 and full capacity by 2027-28. The existing project cost of the project for capacity addition of 1,500 MT being executed by Ultramarine Specialty Chemicals Limited has increased from ₹66.50 crore to ₹75.50 crore. The additional cost of ₹9 crore will be funded through debt. The capacity is to be added in a phased manner starting from April-December,
The board of Sanghvi Brands has entered into management and operating agreements with Goldfinch Resorts Private Limited - Goa, which started its operation in February 2022, and 25 South Realty Limited - Mumbai, wherein the operation is expected to start in FY 2022-2023.
The Board of Directors of Medinova Diagnostic Services has approved the acquisition of partnership interest of 44.93 per cent in Medinova Millennium MRI Services LLP from the existing Partners Pronab Dasgupta and Arnab Dasgupta and the Supplementary LLP Agreement to this effect will be executed. The company holds 55.075 per cent of partnership interest in MRI LLP. The cost of acquisition will be ₹1.70 crore.
A meeting of board of directors of PIL Italica Lifestyle will be held on March 14 to acquire minority strategic investment in Atmosphere Workspace Solutions Private Limited, a manufacturer of wooden and steel furniture.
Frontier Springs, which has been approved for supply of air springs, has received its first order worth ₹2 crore. The orders in pipeline are good which will be reflective in the turnover of the company for the coming quarters and add on to the profitability of the Company, it said. Further, the orders for LHB Springs are in pipeline and the company is investing in its plant and machinery through its internal accruals.
3i Infotech has bagged a work order for ₹12.85 crore from Rajasthan State Pollution Control Board (RSPCB). The work includes design, development, implementation and maintenance of integrated e-Governance Solution 2.0 for Rajasthan State Pollution Control Board.
Balkrishna Industries has successfully commenced commercial production of the brown field expansion and debottlenecking project at Bhuj plant ahead of schedule. This will result in increased production of tires up to 50,000 MTPA, the company said in a notice to the stock exchanges and added the complete ramp-up in production is expected to be achieved in the next 6 months.
The board of Nazara Technologies has approved issuance of equity shares worth ₹25 crore to existing shareholders of Datawrkz Business Solutions on a preferential basis, at ₹2,260 a share. Post completion of this acquisition, the company will hold 33 per cent equity stake in Datawrkz Business Solutions. Further, the company will be making an investment of upto ₹30 crore in its subsidiary Next Wave by way of subscription to further equity shares, it said in a notce to the bourses..
Tube Investments of India has said that its subsidiary TI Clean Mobility has acquired 70 per cent stake in Cellestial E-Mobility. Earlier, in January, the Murugappa Group company had entered into share subscription and purchase agreement with Cellestial E-Mobility.