Happiest Minds Technologies has concluded and signed definitive agreements to acquire 100% ownership interest of PGS Inc. (DBA : Pimcore Global Services), a Houston, USA based digital e-commerce and data management solutions company for a consideration of $8.25 million. PGS and Happiest Minds have had a successful strategic partnership pursuant to which Happiest Minds has been rendering offshore services to PGS. Revenues of PGS for the fiscal ending December 31, 2020 was circa $10.6 million and Happiest Minds counts PGS amongst its list of $2M + customers.
SPML Infra has received orders from various Government Agencies under JV Arrangements where SPML's Share is Rs 316.91 crore. The Projects are to be executed in the district of Uttar Pradesh namely Patyora Danda, Kota Mustakil group of villages, Haraulipur group of villages and Lagon group of Villages. Further, the company has also under JV Arrangements received the LOA for the rural water supply in Uttar Pradesh mainly for the district Kasgunj, Badaun, Pilibhit, Amroha, Rarnpur and Sambhal where the company share will be approximately Rs 186.00 crore. However, the specific value will be known at the time of agreement, after preparation and approval of DPR for the Projects.
PNB Housing Finance is looking at forging tie-ups with some banks for co-lending in the housing loan sector and is hopeful that these partnerships will be win-win for consumers, banks and NBFCs. In November 2020, the RBI had allowed the co-lending scheme for banks under which they can co-lend with the non-banking finance companies (NBFCs), including the housing finance companies (HFCs), based on a prior agreement.
Power Grid Corporation of India has been declared as the successful bidder under Tariff based competitive bidding to establish two transmission systems. The first project is for transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under phase II – Part A on build, own operate and maintain (BOOM) basis. The Letter of Intent (LoI) dated January 29, 2021 has been issued to Power Grid. The Transmission system comprises establishment of a new 400/220kV Substation, 400kV D/C Transmission lines and associated Substation extension works in the State of Rajasthan.
PG Electroplast (PGEL) has started commercial production at its newly setup unit at Plot No. D-111, Supa MIDC, Taluka Parner, Dist. Ahmednagar, Maharashtra from January 28, 2021 for manufacturing of Room Air Conditioner Outdoor Units (ODUs) with initial installed capacity of 50k units per month, or 0.6 million per year.
Eicher Motors’ motorcycle arm -- Royal Enfield has made a foray into the Japanese market with the launch of a store in Tokyo. The newly inaugurated store will offer complete range of motorcycles, apparel and accessories, in addition to spares and service.
SKF India has set up an e-commerce platform for online sale (B2B) of its products. Accordingly, the customers can buy SKF genuine products 24x7 using this platform.
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