Reliance Industries, Motherson Sumi Systems and Cipla to see some action today

Qualcomm Technologies, Inc. and Jio Platforms (Jio), a subsidiary of Reliance Industries, along with its wholly owned subsidiary Radisys Corporation have expanded efforts to develop open and interoperable interface compliant architecture based 5G solutions with a virtualized RAN. This work is intended to fast track the development and roll out of indigenous 5G network infrastructure and services in India. Qualcomm Technologies and Jio also announced that they achieved over a 1 Gbps milestone on the Jio 5GNR solution, leveraging the Qualcomm 5G RAN Platforms.

Motherson Sumi Systems (MSSL), through its Mexican subsidiary, Motherson Rolling Stocks S. de R.L. de C.V. (MRS), has signed an asset sale and purchase agreement to acquire the activities of Electrical Wiring Interconnection Systems (EWIS) performed at Bombardier Transportation’s manufacturing site in Huehuetoca, Mexico (BT Ensambles Mexico) . MRS is part of the Motherson Rolling Stock Division which designs and manufactures electrical cabinets, power packs and electrical distribution systems for leading rolling stock manufacturers.

Cipla has launched generic Nintedanib for the treatment of Idiopathic Pulmonary Fibrosis (IPF). Available as 100 mg and 150 mg capsules, it will be marketed under the brand name Nintib. This launch marks yet another milestone in Cipla’s decade-long commitment to treat IPF, a rare lung disease that impacts ten in one lakh people. Cipla’s journey in IPF began in 2010 with the introduction of Pirfenex, the world’s first generic Pirfenidone and the first ever approved drug for IPF in India.

Mastek’s material wholly-owned subsidiary -- Mastek (UK) who was holding 20,18,192 stocks in Majesco (USA) , has tendered its entire stake with the Acquirer of Majesco (USA) for cash, and has received the consideration aggregating to $32.30 Million on October 19, 2020. The said amount will help Mastek (UK) to drive its growth strategy and reduce the borrowings.

Bank of Baroda (BoB) has tied up with Toyota Kirloskar Motor (TKM) to enable finance options for the automaker's customers and dealers. Following the pact, BoB will be one of the preferred financiers for the entire range of vehicles sold by TKM. The new service facilitates customers to avail customised solutions such as high on-road funding of 90 per cent, long repayment period of 84 months, no prepayment or foreclosure charges.

Indo Count Industries has launched value-driven home textiles brand ‘Layers’. Along with the success of premium bed and bath brand, Boutique Living, the newly launched brand ‘Layers’ now joins the Indo Count family to make a mark in the Indian bed linen space. Hinged on contemporary styles and developed using cutting-edge technology, the brand boasts of special antimicrobial and anti-fungal properties in the health and wellness space.

Indian Bank in collaboration with IIT-Madras Incubation Cell (IITMIC) has launched an initiative for funding start-ups. Under the initiative --IND Spring Board -- IITMIC will refer start-ups with proven technology and established cash flows to the bank and also extend advisory to the bank on the business model. The lender will extend loans of up to Rs 50 crore to these start-ups for their working capital requirements or purchase of machinery and equipment, among others.