Reliance Industries, Tata Motors and REC to see some action today

Reliance Industries has entered into definitive agreements with SenseHawk Inc. (SenseHawk) for acquiring 79.4% stake of SenseHawk, through primary infusion and secondary purchase, for a total consideration of $32 million. Founded in 2018, SenseHawk is an early-stage California-based developer of softwarebased management tools for the solar energy generation industry. SenseHawk helps accelerate solar projects from planning to production by helping companies streamline processes and use automation. It provides a seamless solar digital platform to manage the end-to-end solar asset lifecycle.

Tata Motors has launched India’s first CNG-powered Medium & Heavy Commercial Vehicle (M&HCV) trucks that are equipped with advanced driver assistance System (ADAS). A new series of advanced Intermediate & Light Commercial Vehicle (I&LCV) tippers and trucks were also launched to service the evolving multi-application needs, especially of the rapidly growing logistics and infrastructure sectors.

REC is planning to raise up to Rs 75,000 crore through issuance of bonds. The funds are proposed to be raised through issuance of debentures on private placement basis during a period of one year from the date of passing of the resolution, in one or more tranches. The annual general meeting (AGM) of shareholders is scheduled for September 16, 2022 to consider the same. 

Narayana Hrudayalaya has signed Business Transfer agreement with Shiva and Shiva Orthopaedic Hospital to acquire its Orthopedic and Trauma Hospital (Sparsh Hosur Road unit), situated at Narayana Health City campus, Bommasandra Industrial Area, Bengaluru as a going concern on slump sale basis as defined under the Income tax Act, 1961 for aggregate cash consideration of Rs 2 billion. The acquisition is subject to the Conditions precedent and Conditions subsequent as agreed in the Business Transfer agreement.

Artemis Medicare Services, also known as Artemis Hospitals, has opened its new centre under the brand name, Daffodils by Artemis, in Jaipur on September 5, 2022.  Daffodils by Artemis is a premiere luxury birthing centre offering mother and child care services. Offering comprehensive mother and child care services, the centre will have 40 IP beds including specialised neonatal and paediatric ICUs, state-of-the-art Operation Theatres, emergency room, diagnostics and allied services.

In its bid to strengthen international connectivity, IndiGo, India's leading carrier has announced a new daily direct flight from Hyderabad-Riyadh along with additional frequencies on Hyderabad-Doha and Mangalore-Dubai routes. This new route and additional frequencies will enhance connectivity between India and Middle East.

NTPC has acquired Jhabua Power. The Resolution Plan dated  June 14, 2021 (Plan) submitted by NTPC and approved by NCLT, Kolkata Bench vide its order dated 6th July 2022 for Jhabua Power has been implemented on September 05, 2022. The re-constituted board of Jhabua Power, as provided under the Plan, has assumed management of the Jhabua Power. Further, post-acquisition of Jhabua Power, having installed and commercial capacity of 600 MW, NTPC Group's Installed and Commercial Capacity has crossed 70 GW and now stands at 70064 MW. The total consideration paid was Rs 925 Crore, out of which Rs 325 crore was paid towards equity and Rs 600 crore was paid for allotment of NCDs.