RailTel, The Phoenix Mills and Visaka Industries to see some action today

RailTel Corporation of India  has received work order from Indian Railway Finance Corporation for Implementation of ERP and other Business modules along with servers for cloud hosting and DR services at a total cost of Rs 20.81 crore (Plus GST). Earlier, the company had bagged an order worth Rs 97.64 crore from the Madhya Pradesh government for expansion of the state data centre and establishment of a disaster recovery centre. The project entails designing, upgrading, commissioning and managing a state data centre (SDC) in Madhya Pradesh along with setting up a disaster recovery (DR) centre for a period of five years.

The Phoenix Mills (PML), India's leading mixed-use real estate developer, has announced the completion of acquisition of balance 50% equity stake in Classic Mall Development Company (CMDCL) from Crest Ventures and Escort Developers Private (a 100% subsidiary of Crest Ventures Limited). Prior to this, PML owned 50% in CMDCL and the balance 50% was owned by Crest Ventures (46.35%) and Escort Developers (3.65%). CMDCL is now a wholly owned subsidiary of PML.

Visaka Industries had earlier announced the expansion of Asbestos Cement division (ACD) at Raebareli unit in Uttar Pradesh (setting up additional line with a capacity of 1.00 lakh MTPA). The said additional line has been successfully commissioned and commercial production on the said new line has been commenced from Thursday i.e. 05.05.2022.

Tata Motors has unveiled the electric version of its popular mini truck, Ace, as it continues the drive for electrification of its portfolio. The company has also signed pacts with leading e-commerce players such as Amazon, BigBasket, City Link, DOT, Flipkart, LetsTransport, MoEVing and Yelo EV, to supply the Ace EV and it has already received orders for 39,000 units.

Future Enterprises has agreed to sell 25% stake in its General Insurance Joint Venture, Future Generali India Insurance Company (FGIICL) to its Joint Venture partner, Generali Participations Netherlands N. V. (Generali), subject to the receipt of the necessary approvals from governmental and regulatory authorities. Pursuant to receipt of the key approvals from governmental and regulatory authorities, the said transaction has been consummated on May 05, 2022. Pursuant to the consummation of the transaction, the Company has sold 25% shares for a consideration of Rs. 1,266.07 crore.

One 97 Communications, which owns the Paytm brand, has tokenized 28 million cards across Visa, Mastercard and RuPay, and expects to purge saved card data by June 30. The tokenized cards account for 80 percent of monthly active cards on the Paytm app. Paytm is committed to safe and secure online payments, and in that direction, RBI's tokenization effort is a key milestone for the industry.

PSP Projects has bagged new work order worth Rs 97.28 crore (excluding GST) in institutional segment. With the receipt of the this order, the total work orders received during the financial year 2022-23 till date amounts to Rs 424.66 crore.