Paras Defence, Zuari Industries and NTPC to see some action today

Paras Defence and Space Technologies has entered into an Exclusive Teaming Agreement with ‘ELDIS Pardubice’ s.r.o., Czech Republic with an intention to provide Turnkey Anti-Drone Systems for Civilian Airports in India.

Zuari Industries has signed Memorandum of Understanding (MoU) with Envien International, Malta (EIL) and Zuari Envien Bioenergy (ZEBPL) to build and operate a biofuel distillery and further explore the organic and inorganic business opportunities in the biofuel space in India. In order to achieve the said objective, the company and EIL have consented to establish a 50:50 joint venture which shall inter alia design, construct, commission and operate a 150 kilo litres per day (KLPD) Ethanol distillery and sell the same to Oil Marketing Companies (OMCs) to meet their blending requirements.

NTPC’s wholly owned subsidiary -- NTPC Renewable Energy (NTPC REL) has incorporated Green Valley Renewable Energy, as a subsidiary of NTPC REL in 51:49 Joint Venture with DVC on August 25, 2022. A Certificate of Incorporation in this regard had been issued by the Registrar of Companies on September 6, 2022. The main object of the Company is to develop, operate and maintain Renewable Energy Park and Project(s) in reservoirs and land owned by DVC.

RITES has secured a new business order, for Appointment as General Engineering Consultant for Ahmedabad Metro Rail Project, Phase-II, as a lead member of the consortium for Rs 92.70 crore from Gujarat Metro Rail Corporation (GMRC). The share of RITES in the order is 45%.

Wipro has expanded collaboration with Palo Alto Networks to deliver managed security and network transformation solutions like SASE (Secure Access Service Edge), cloud security and next-generation SOC (Security Operations Center) solutions based on Zero Trust principles for global enterprises.

HDFC ERGO General Insurance Company, a joint venture between HDFC and ERGO International AG, is partnering with Google Cloud to create a technology platform that will help digitize insurance purchasing and service in the country. This new platform will enable HDFC ERGO to launch innovative product offerings, offer digitally enabled customer experiences, build more agile systems, leverage data to identify insurance risk, deliver personalized insurance products, and respond to regulatory changes in a quicker way.

Mahindra Agri Solutions (MASL) a subsidiary of Mahindra & Mahindra, has agreed to sell its entire stake aggregating 91.59% of the paid-up Equity Share Capital in Merakisan (MKPL), a subsidiary of MASL, to Prashant Patil. Following the sale, MASL's shareholding in MKPL would become Nil, and MKPL would cease to be a subsidiary of MASL and consequently that of the Company. The standalone revenue from operations of MKPL for the year ended March 31, 2022 was Rs. 4.18 crores and after elimination of intercompany transactions with the Mahindra Group, MKPL contributed Rs. 4.18 crores or 0.00464% to the consolidated revenue from operations of the Company.