Indian Bank, Wipro and Mahindra Logistics to see some action today

Indian Bank has launched the Video KYC (know your customer) facility, which allows an applicant to open an account from anywhere by incorporating its Video-Based Customer Identification Process (VCIP) technology, on its web-based platforms. The initiative would dispense with the need for a personal visit to any branch of the bank to complete the physical verification process in place, currently.

Wipro is partnering with DriveNets, a leader in cloud-native networking software and network disaggregation solutions, to transform how communication service providers (CSPs) build next-generation networks. Combining DriveNets’ disaggregation solutions with Wipro FullStride Cloud Services’ expertise in consulting, ecosystem orchestration, and business transformation, the partnership will enable CSPs to leverage the cloud for growth and realize operational efficiencies.

Mahindra Logistics has entered into Share Purchase Agreement to acquire 100% paid-up share capital of Meru Mobility Tech (MMTPL), V-Link Automotive Services (VASPL), and V-Link Fleet Solutions (VFSPL) from Meru Travel Solutions (MTSPL), a Fellow Subsidiary of the Company; and acquire 100% paid-up share capital of MTSPL from Mahindra & Mahindra (M&M), Holding and Promoter Company of the Company. Upon completion of the said acquisitions, MMTPL, VASPL, VFSPL and MTSPL (Meru Companies) will become wholly-owned subsidiaries of the Company and would continue to remain subsidiaries of M&M.

Ashok Leyland has opened its second dealership for Light Commercial Vehicles (LCV) in Salem, the 11th one in Tamil Nadu. The new channel partner, SWARNAMBIGAI MOTOR, has a 3S (Sales, Service and Spares) facility at Mamangam and is equipped with quick service bays, pneumatic tools and sophisticated infrastructure.

Hester Biosciences has entered into an agreement to acquire 50% stake in Thrishool Exim, Tanzania, to increase its distribution footprint in Tanzania and in the African continent. Thrishool is an animal health products distribution company operating in Tanzania since 2012. Thrishool’s product range includes veterinary feed additives, feed raw materials, nutritional supplements, therapeutics and equipment sourced from recognized international producers. The consideration for the proposed acquisition is $2.25 million. The proposed transaction is subject to receipt of Tanzanian regulatory approvals.

Modison Metals has received approval from board of directors to enter into Memorandum of Understanding (MoU) with Renera and LDrive ((L-Charge) respectively. The MoU is for trading, assembly and manufacturing of Battery Energy Storage System (BESS) and Electric Vehicle (EV) charging infrastructure in India. BESS technology enables energy storage systems for emergency power supply, renewable energy resources and smoothing of load demand on the electricity grid. EV charging infrastructure enables rapid adoption of Electric Vehicles in a seamless manner.

Supreme Engineering’s Special steels division (Khopoli) has bagged various prestigious orders approximately of Rs 6.09 crore. The first order is for supply of cryogenic steels for a value of Rs 1.31 crore, second order is for supply of high temperature super alloys for a value of Rs 2.81 crore and third order for supply of ultra high strength low alloy steels, stainless steels and super alloys for a value of Rs 1.97 crore.