Motherson Sumi Systems, One 97 Communications and Ashok Leyland to see some action today

Motherson Sumi Systems (MSSL) is eyeing to expand business in four key non-automotive areas. These are aerospace, logistics, technology and industrial solutions and health and medical. The company expects that the new verticals will generate 25 percent of revenue by 2025. The diversification to non-auto segments will help the company leverage the existing business strength of global presence, product design and development expertise. In the logistics space, the company has a joint venture with a Japanese premium car carrier.

One 97 Communications’(Paytm) revenue from payments, including merchant transfers, is likely to be at around USD 140 million (about Rs 1,034 crore) in the current quarter with a growth of 50-60 per cent on a year-on-year basis. The company is building credit as the next line of business and it has crossed the number of loans issued by one of the leading non-banking financial companies (NBFCs).

Ashok Leyland has partnered with Aidrivers for the development of artificial intelligence-enabled autonomous vehicles. Under the pact, Aidrivers will provide AI-enabled autonomous solutions and Ashok Leyland will provide vehicle platforms. The two partners will work together to explore target markets and opportunities for cooperation. This MoU provides the foundations for joint innovation and inspiration.

RailTel Corporation is all set to create 'edge data centres' at Railway premises across 102 locations, especially Tier-2 and Tier-3 towns in the country. The 'edge data centres' will be set up by RailTel jointly with partners. This activity will entail an investment opportunity of around Rs 500 crore. The process to establish the edge data centres has been set in motion with the floating of Expression of Interest (EOI) inviting the industry to partner in this exercise.

PB Fintech’s platform -- Paisabazaar.com has reached an annualised loan disbursal rate of $1.1 billion (excluding credit card issuance). In December 2021, the fintech disbursed Rs 695 crore of loans, which included unsecured loans like personal and business loans and secured loans like home loans and loan against property. In December, customers from 668 cities and towns accessed credit through the Paisabazaar platform.

East West Holdings (Through Wholly owned Subsidiary (WOS) East West Freight Carriers) has bagged prestigious service contract from two reputed clients i.e. L&T Technology Services and SUGAR Cosmetics. Under this service contract the Company will be providing total Logistic Solutions to L&T Technology Services and SUGAR Cosmetics.

Titagarh Wagons (TWL) has acquired the land and infrastructure of Precision Shipyard located in Falta, West Bengal, in an auction of sale conducted by the Union Bank of India. Titagarh has already been building ships for the Indian Navy, National Institute of Ocean Technology etc., in its shipyard located in Titagarh. However acquisition of the present infrastructure will enable Titagarh to substantially enhance its capability and capacity for the ship-building business.