TVS Motor, Adani Transmission and Jindal Stainless to see some action today

TVS Motor Company has launched Marvel Spider-Man and Thor inspired scooters under the TVS NTORQ 125 SuperSquad edition. The new scooters will join the SuperSquad Edition inspired by Marvel Super Heroes – Iron Man, Black Panther, and Captain America launched last year. The Company has been associated with Disney India’s consumer products business for the SuperSquad edition of TVS NTORQ 125, India’s first Bluetooth connected scooter with RT-Fi technology.

Adani Transmission has signed Share Purchase agreement (SPA) with Adani Ports and Special Economic Zone (APSEZ) on December 15, 2021 for acquisition of MPSEZ Utilities (MUL). The estimated cost of acquisition is Rs 116.27 crore.

Jindal Stainless (JSL) is aiming to garner a revenue of Rs 500 crore from its hot-rolled stainless steel chequered sheet business over the next three years. The current size of the chequered sheet market in India is 2,00,000 tonnes annually and is growing at an annual rate of 8 per cent.

Tata Steel has executed a long-term agreement with Angul Sukinda Railway (ASRL), for the construction, operation and maintenance of an alternate railway line (Additional Rail Line). The agreement is for a period of 20 years to meet the logistic requirements of company’s Kalinganagar Steel Plant. The company will be funding the entire expenditure of Rs 400 crore (in a phased manner) for construction of the Additional Rail Line by subscribing to 40,00,00,000 non-convertible, non-cumulative, redeemable preference shares of face value of Rs 10 each of ASRL.

IndusInd Bank has entered into a co-lending agreement with Samunnati to expand credit accessibility and market linkages for farmer producer organizations (FPOs) across the country. This strategic alliance will enable easy access to working capital to Samunnati's growing network of 1,500 farmer collectives with a member base of 6 million farmers.

Indian Hotels Company (IHCL) has collaborated with TATA Projects for the construction of the new Ginger hotel at Santacruz, Mumbai by an all-woman engineering team. This marquee project is a significant step forward in promoting varied opportunities for women in other-wise traditionally male-dominated industries such as construction.

RITES has signed a Memorandum of Understanding (MoU) with BEML to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock. As part of the MoU, RITES will provide expertise in design, engineering, marketing and any other support that may be required for tapping domestic and overseas opportunities while BEML will be responsible for manufacturing of customised metro coaches and rolling stock.