SJVN, SIS and Crompton Greaves Consumer Electricals to see some action today

SJVN has signed papers to get a Rs 6,333.40 crore loan from a consortium of banks from India and Nepal for funding of its Arun-3 power project in Nepal. The consortium, led by SBI India and PNB, have Exim Bank, Canara UBI & Everest Bank, Nepal & Nabil Bank, Nepal as consortium members. 

SIS has bagged a project worth Rs 225 crore to provide security solutions to Coal India-arm MCL. As part of the contract, SIS will deploy security personnel in different categories to provide security services across 18 sites of Mahanadi Coalfields (MCL) at Sambalpur, Bhubaneshwar, IB Valley Coalfields and Talcher Coalfields.

The Board of Directors of Crompton Greaves Consumer Electricals considered and approved, to enter into two separate agreements to acquire 9.12 acres of land from LLM Appliances for a consideration of Rs 63.00 crore and 3.37 acres of land from Mr V. M. Balasubramaniam for a consideration of Rs 22.00 crore, located at Plot No. 143, Pudupakkam village, Vandalur Kelambakkam Road, Kelambakkam, Chengalpettu, Tamil Nadu (Land Parcels), respectively. The consideration for each of the Land Parcels has been determined taking into account valuation reports dated February 18, 2022 issued by K. V. Venugopal, Registered Valuer. The said Land Parcels are located adjacent to the registered office of Butterfly Gandhimathi Appliances (Butterfly).

Hero MotoCorp has inked strategic partnership with Ujjivan Small Finance Bank to finance the purchase of a two-wheeler. The financing tie-up would help deepen the two-wheeler market penetration and fulfil the aspirations of customers in the mid to low-income segment across the country. Ujjivan Small Finance Bank would be funding up to 100 per cent of the on-road price of the vehicle Loan-to-value (LTV), depending on the customer’s credit profile.

Aditya Birla Fashion and Retail (ABFRL) has entered into collaboration with Accenture for a digital transformation program designed to drive growth, increase business agility and improve operational efficiency. As part of its transformation strategy, ABFRL has chosen Accenture to design, develop, and deploy an enterprise resource planning (ERP) system based on SAP S/4HANA to streamline business processes and improve visibility and accessibility of data across ABFRL.

Wipro has formed a joint go-to market partnership with vFunction, a Palo Alto-based startup that has developed a scalable, AI-based technology platform for modernizing Java applications and accelerating migration to the cloud. The partnership will strengthen Wipro FullStride Cloud Services’ position as a leading provider of digital transformation solutions and help advance Wipro’s commitment to accelerating cloud innovation for clients. In conjunction with this partnership, Wipro Ventures, the corporate investment arm of Wipro, has invested in vFunction’s Series a funding round to deepen the strategic partnership.

MEP Infrastructure Developers’ step-down subsidiary -- Bhalaji Toll Road (BTRPL) has entered into contract agreement with National Highways Authority of India (NHAI) on February 21, 2022 for the project of collection of user fee for Nemili Sriperumbudur Toll Plaza located at Km 37.800 for Section from Km 106.800 to Km 13.800 on Walajahpet- Poonamalle Section of NH 4 in the State of Tamil Nadu. Period of contract is 1 year. The tolling operations has commenced from February 22, 2022. The contractual amount for the said project is Rs 87.03 crore.