Rail Vikas Nigam, Fino Payments Bank and HCL Technologies to see some action today

Rail Vikas Nigam has emerged as Lowest Bidder (L1) for Supply, Installation, testing and commissioning of 11 KV Line associated works such as 11 KV Line Bifurcation, 11 KV line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under Revamped Reforms-based and Results-linked, Distribution sector (Package-11) in Jabalpur (City), Jabalpur (O&M), Katni, Mandla, Dindori, Seoni, Chhindwara, Narsinghpur, Balaghat, Shahdol, Anuppur and Umariya Circles of MPPKVVCL, Jabalpur Company area. The project cost is Rs 251.05 crore. The order is to be executed within 24 months.

Fino Payments Bank is planning to increase the number of touchpoints across West Bengal and the North Eastern part of the country. Presently, the bank has around 35,000 touchpoints across all the districts in West Bengal. There are close to nearly 15 lakh such touchpoints of Fino across the country. These touchpoints provide banking services using micro-ATM and Aadhaar-enabled payment systems. Payment banks can take deposits, allow withdrawals and carry out other banking activities except lending.

HCL Technologies (HCLTech) has teamed up with SAP to drive innovation and accelerate the adoption of Generative AI. With this collaboration, HCLTech will partner with SAP to develop solutions that enable businesses to get better outcomes and speed up business transformation. In partnership with SAP, HCLTech plans to create a repository of Gen AI use cases specific to SAP software. 

Usha Martin’s subsidiary -- Usha Siam Steel Industries Public Company (USSIPCL) has entered into an agreement to acquire 50% of the share capital of Tesac Usha Wirerope Company (TUWCL), a step-down joint venture of the Company from Kobelco Wire Company. Post this acquisition, TUWCL will become a subsidiary of USSIPCL and a step-down subsidiary of the Company. Cost of acquisition is Baht 74.45 million.

Sarda Energy & Minerals has awarded a contract to Gensol Engineering for installation of solar power plant of 50 MW DC in Chhattisgarh for meeting the captive requirements of the company’s production and mining facilities, for the total consideration of around Rs 150 crore.  

HPL Electric and Power (HPL) has won smart meter orders totaling around Rs 240 crore from leading AMISP clients in the normal course of business. This accomplishment adds to HPL's already existing significant order pipeline, reinforcing its ongoing upward momentum in the dynamic smart meter sector.