Kajaria Ceramics, Bharat Electronics and NMDC to see some action today

02 Sep 2022 Evaluate

Kajaria Ceramics has acquired 51% equity shares of South Asian Ceramic Tiles (South Asian) in terms of the Share Sale and Purchase Agreement on August 31, 2022. Accordingly, South Asian has now become a subsidiary of the Company. The objects of acquisition is to have a foothold in South India thereby enlarging the tiles markets to make more dealers and even to cater small size dealers, by reducing the transit time and by increasing the rotation of re-ordering by the dealers of the company. The cost of acquisition is Rs 24.50 crore.

Bharat Electronics (BEL) has signed an memorandum of understanding (MoU) with Smiths Detection, a global leader in threat detection and security inspection technologies, for offering advanced, high-energy scanning systems to the Indian market. The MoU will leverage the high-end technological capabilities of both the firms to meet India's domestic security needs. It has been signed in line with the Indian government's 'Make in India' initiative, which seeks to increase manufacturing activities in India.

NMDC has reported 2.48 million tonne (MT) of iron ore production and logged sales volume of 3.06 MT in the month of August 2022. The company’s Chhattisgarh mines produced 1.46 MT of iron ore and registered sales volume of 1.97 MT, while Karnataka mines produced 1.02 MT of iron ore and sold 0.86 MT of iron ore in August 2022.   

TVS Motor Company has registered a growth of 15% in August 2022 with sales of 333,787 units as against 290,694 units in the month of August 2021. Total two-wheelers registered a growth of 15% in August 2022 with sales increasing from 274,313 units in August 2021 to 315,539 units in August 2022. Domestic two-wheeler registered growth of 33% with sales increasing from 179,999 units in August 2021 to 239,325 units in August 2022.

Dhruv Consultancy Services in Joint Venture with Spectrum Techno Consultants has received the Letter of Acceptance (LoA) for the work of Consultancy services for preparation of Detailed Project Report (DPR) for Construction of 04 lane Elevated Corridor/ Double Decker flyover in the District of Prayagraj, from the Ministry of Road Transport & Highway, Chief Regional Office, Lucknow (the Authority) received on August 31, 2022 directly by Dhruv Consultancy Services. Consultancy Services Fees for the said project will be Rs 1.38 crore with contract period of 10 months.

Aurobindo Pharma's wholly-owned arm -- CuraTeQ Biologics is planning to invest around Rs 300 crore on capacity expansion of biologics manufacturing facilities. The board of directors of CuraTeQ Biologics, at its meeting approved the expansion of its operations by establishing another mammalian cell culture manufacturing facility of higher capacity to cater to the future requirements.

Infosys has completed the acquisition of BASE life science, a leading technology and consulting firm in the life sciences industry, in Europe. This follows the announcement the company made on July 13, 2022. The acquisition reaffirms Infosys' commitment to help global life sciences companies realize business value from cloud-first digital platforms and data, to speed-up clinical trials and scale drug development, positively impacting lives and achieving better health outcomes. BASE further expands Infosys' footprint in the Nordics region and will bring domain experts with commercial, medical, digital marketing, clinical, regulatory, and quality knowhow. Backed by a team of data science specialists, BASE is at the frontier of the latest technological developments and trends. It has a strong focus on Data & AI, and the ability to bridge and integrate business logic and technology, driving insights for better health outcomes.

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