Tata Motors has incorporated a wholly owned subsidiary, viz., ‘TML Smart City Mobility Solutions’ (TSCMSL) for undertaking urban mass mobility business interalia under an own, operate and maintain model. With the launch of TSCMSL, the company intends to bring specific focus to its Electric Vehicles (EV) segment as a service offerings across its portfolio of commercial vehicles. In addition to existing State Transport Units (STUs) and government fleets, TSCMSL will also cater to all business opportunities across passenger mobility applications.
RailTel Corporation of India and Esri India, the country's leading Geographic Information System (GIS) Software & Solutions provider, have signed an Memorandum of understanding (MoU) to provide Cloud-based GIS Solutions to their users in the ‘Government Sector’. This collaboration will address the strong emerging demand for ‘GIS on Cloud’.
ONGC will invest Rs 31,000 crore over the next three years in exploring the Indian sedimentary basin for fuel reserves which could augment the nation's production in its attempt to be self-reliant in the energy sector. The company has drawn up a comprehensive roadmap to further intensify its exploration campaign, allocating a capital expenditure of about Rs 31,000 crore in the next three fiscal years during FY 2022-25. This is 150 per cent of its exploration expenditure of Rs 20,670 crore in the last three fiscals during FY 2019-22.
Ashok Leyland has strengthened its operations in southern region of Africa by inking a distribution pact with ETG group's logistics, warehousing and distribution vertical. ETG is a global conglomerate operating across various segments, with a deep focus on uplifting Sub-Saharan Africa. As part of the tie-up, ETG Logistics (ETGL) will operate dealerships for Ashok Leyland in six key southern African countries.
Union Bank of India has received approval for raising of AT 1 and/or Tier 2 bonds not exceeding Rs 4,300 crore within the overall Limit of Rs 8,100 crore (including Green/foreign currency denominated AT1 /Tier 2 Bonds). The Board of Directors in its meeting held on May 26, 2022, inter-alia, considered & approved the same.
Aurum PropTech’s board has approved the acquisition of 100% of the shareholding in Blink Advisory Services, a data analytics company based out of Delhi. The acquisition shall be for a cash consideration of an amount of up to Rs 23.50 crore. The Board of Directors of the company at its meeting held on May 26, 2022, has approved the same.
Torrent Pharmaceuticals has entered into an agreement to acquire four brands from Dr Reddy's Laboratories (DRL). 'Styptovit-E', 'Finast', 'Finast-T', and 'Dynapress' will strengthen Torrent’s presence in the therapy segment. Styptovit-E, a gynaecology product, has an estimated market size of roughly Rs 500 crore, according to data from AIOCD. 'Finast', 'Finast-T', and 'Dynapress' are used in the treatment of Benign Prostatic Hyperplasia (BPH) and they will aid Torrent's presence in the urology therapy.
Download APP
