JSW Steel, TCS and Vascon Engineers to see some action today

JSW Steel has reported crude steel production of 13.32 lakh tonnes for November 2020, registering rise of 3% over 12.90 lakh tonnes in November 2019. Out of the total output, the production of rolled products (flat) stood at 9.61 lakh tonnes and the production of rolled products (long) stood at 2.95 lakh tonnes for the month of November 2020.

Tata Consultancy Services (TCS) has launched a new transformative Digital Bank Guarantee platform, powered by the Quartz Blockchain solution, as part of the Banking Service Bureau (BSB), operated by TCS for the digital banking industry in Israel. Bank Hapoalim, Israel’s largest bank that currently manages more than 30% of the total bank guarantees in the country, has signed up as the anchor customer for the platform.

Vascon Engineers has received work order from Transcon-Sheth Creators for Construction of Composite Sale Building No. 3 Rehab, Malad, Mumbai amounting to Rs 37.74 crore. The work has been awarded on 'Lump sum Basis'. The work has to be completed within 27 months from the date of receipt of this Work Order.

Indian Bank has successfully raised Tier 1 Capital Fund through Private Placement of Basel III compliant AT 1 Perpetual Bonds aggregating to Rs 1048 crore at a coupon of 8.44% p.a. payable annually. The issuance/placement of said Bonds has been completed by the bank through BSE-EBP.

Prakash Pipes has incorporated a wholly owned subsidiary (WOS) Company namely Prakash Technopack (PTPL), which is registered with the Registrar of Companies, Punjab and Chandigarh on December 7, 2020. PTPL belongs to Plastic Products related Industry and yet to commence its business operation.

Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) is planning to launch Jio 5G service in India in the second half of 2021. Policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. Jio's 5G will be powered by the indigenously-developed network, hardware and technology components. Jio's 5G service will be a testimony to your inspiring vision of AtmaNirbhar Bharat.

ICICI Bank has received approval from board of directors for sale up to 7,121,403 equity shares of face value Rs 5 each of ICICI Securities representing up to 2.21% of its issued and paid-up equity share capital, through an offer for sale through stock exchange mechanism, in accordance with applicable law, towards compliance with the requirement of minimum public float of ICICI Securities. The board of directors of the bank at its meeting held on December 08, 2020 has approved the same.