PNC Infratech, Tata Power and Motilal Oswal to see some action today

PNC Infratech has signed concession agreement with National Highways Authority of India (NHAI) and the Special Purpose Vehicle incorporated by the Company for implementation of the project of Four Laning of Sonauli -Gorakhpur section of NH-29E from Design Ch. 0+000 to Design Ch. 79+540 on Hybrid Annuity Mode in the state of Uttar Pradesh. The bid project cost is Rs 1458 crore. The said project is to be constructed in 24 months, upon declaration of appointed date and operated for 15 years, post construction.

Tata Power Company’s subsidiary -- Tata Power Renewable Energy (TPREL) has collaborated with the leading Indian Stainless Steel manufacturer - Viraj Profile to set up a 100 MW captive solar plant. The plant will be developed by Tata Power at Nandgaon at its Nasik site and it will power Viraj Profile’s Tarapur Plant. With this, Viraj will become one of the first Stainless Steel Long Products manufacturing companies in India to use Solar Energy to run its manufacturing plant. With the commissioning of this plant, Viraj Profile's dependability on non-renewable power resources will be reduced by approximately 50%. The project will get commissioned by July 2023.

Motilal Oswal Financial Services (MOFSL) has launched ‘RESEARCH 360’ - a first-of-its-kind financial market research & analysis platform. This unique platform will act as a one-stop destination for the investors & traders to perform detailed fundamental and technical research which will help in taking prudent investment or trading decisions in various segments such as equity, derivatives, mutual funds, thematic & model portfolios etc.

SBC Exports has bagged an order from National Informatics Centre Services Incorporated (NICSI). The order is for providing office support, project management support and rollout services. The purchase order cost of the said work-order is Rs 57.88 lakh.

Mahindra & Mahindra’s (M&M) subsidiary -- Mahindra Agri Solutions (MASL) has sold its entire stake aggregating 91.59% of the paid-up Equity Share Capital in Merakisan (MKPL), a subsidiary of MASL, to the founder and promoter of MKPL i.e. Prashant Patil.  Accordingly the shareholding of MASL in MKPL has become 'Nil' and MKPL has ceased to be a subsidiary of MASL and of the Company with effect from September 7, 2022.

3i Infotech, a global Information Technology company, has announced the launch of NuRe 3i+ powered by Oracle, a first-ever Zero Trust Sovereign Cloud in Malaysia, which is slated to be a gamechanger in the way SMBs and enterprises embrace transformation. The Zero Trust Sovereign Cloud platform will have data and operational sovereignty built into it, providing compliance to businesses that aim to retain data within the country's borders. As a managed services provider, NuRe 3i+ powered by Oracle, will offer customers a full stack of cloud services across IaaS and PaaS, supporting cloud native applications, as well as mission- critical applications and performance intensive (HPC, GPU) workloads.

GMR Warora Energy (GWEL), a stepdown subsidiary of GMR Power and Urban Infra (GPUIL), has entered into definitive agreements with its lenders to restructure its debt by way of Resolution Plan (RP) under RBI guidelines pertaining to Prudential Framework for Resolution of Stressed Assets dated Jun 07, 2019.