Infosys, M&M and Strides Pharma Science to see some action today

Infosys has signed a definitive agreement to acquire Kaleidoscope Innovation, a full-spectrum product design, development and insights firm innovating across medical, consumer and industrial markets, bolstering capabilities in the design of smart products. This acquisition demonstrates Infosys’ commitment to innovate for its clients, and make a meaningful impact on human lives by combining cutting-edge technologies and experiences to revolutionize patient care, treatment, diagnostics and consumer health across the world.

Mahindra & Mahindra (M&M) has signed a share purchase agreement for purchase of additional 1,825 equity shares, 4,480 seed compulsory convertible cumulative participating preference shares and 589 Series A compulsory convertible cumulative participating preference shares of Carnot Technologies from its existing shareholders through secondary purchase for a total of about Rs 9 crore. Moreover, the company said it has also inked a share subscription and shareholders agreement for subscription of 2,298 Series B compulsory convertible cumulative participating preference shares of Carnot through primary infusion of approximately Rs 3 crore. The consideration will be paid in cash.

Strides Pharma Science’s step?down wholly?owned subsidiary -- Strides Pharma Global has received approval for Prednisone Tablets USP, 1 mg from the United States Food & Drug Administration (USFDA). The product is a generic version Meticorten Tablets, 1 mg of Schering Corporation. The US market for Prednisone Tablets USP, 1 mg is approximately $12 million. The product will be manufactured at the company’s flagship facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) has tied up with agri value chain enabler Samunnati to offer crop advisory, agri-inputs as well as customised finance options to Farmer Producer Organisations (FPOs) in five states. The partnership is expected to empower over 70,000 farmers through 150 FPOs across five states -- Maharashtra, Gujarat, Karnataka, Andhra Pradesh and Telangana -- in the next three years. As per the memorandum of understanding (MoU), the FPOs will be able to access crop-based advisory and agri-inputs through DFPCL along with the customised finance options through Samunnati.

Energy Efficiency Services (EESL), a joint venture of four PSUs including NTPC, Power Finance Corporation, Rural Electrification Corporation & Power Grid Corporation, has placed order to procure 250 electric vehicles from Tata Motors and Hyundai Motor India. Tata Motors will supply 150 Nexon XZ+ electric compact SUVs, while Hyundai Motor India will provide 100 units of Kona electric Premium SUVs for the government use.

InterGlobe Aviation (IndiGo) is aiming to gradually expand its flight operations and reach the pre-COVID-19 full capacity by the end of 2020-21 financial year. Currently, the country's largest airline in terms of market share is operating around 600 flights per day, which is around 42 per cent of its pre-COVID-19 domestic schedule of around 1,420 services.

GTPL Hathway has acquired balance 49% equity shares of GTPL City Channel, Subsidiary of the Company on September 3, 2020. Accordingly, GTPL City Channel has become wholly-owned subsidiary of the Company. GTPL City Channel is acquired for ease of business operations.