Wipro, Premier Explosives and Manali Petrochemicals to see some action today

Wipro has launched Wipro Data Intelligence Suite, a one-stop solution for accelerating cloud modernization and data monetization, focused on modernizing data estates, including data stores, pipelines and visualizations, running on Amazon Web Services (AWS). Wipro Data Intelligence Suite offers reliable and secure means to migrate from existing platforms and fragmented legacy systems to the cloud.

Premier Explosives has received an order from Vikram Sarabhai Space Centre (VSSC) for production and supply of three sets of PSOM-XL Motors (HS, MS & NS) for their PSLV launch vehicle for a total value of Rs 3.45 crore. This is a repeat order to be executed at the Solid Propellant Plant located at Katepally The company has already executed four PSOM-XL motors. The order is to be executed within a period of 8 months.

Manali Petrochemicals (MPL) has completed the acquisition of Penn Globe, UK (PGL) on November 30, 2022 by acquiring its entire stake (100%) for a consideration of GBP 21 million. The company has completed this acquisition through its Wholly Owned Subsidiary -- AMCHEM Speciality Chemicals (AMCHEM). With this acquisition, PGL along with its two subsidiaries in UK viz., Penn-White and Pennwhite Print Solutions have become wholly owned subsidiaries of MPL.

NMDC has hiked the prices of iron ore lumps and fines by Rs 300 per tonne with immediate effect. The announcement from the country's largest iron ore miner has come days after the government removed duty on the exports of the mineral. The price for a tonne of lump ore or high-grade iron ore having Fe (iron) content 65.53 per cent and above has been fixed at Rs 4,100. While the rate of fines or inferior grade ore with 64 per cent and less Fe content has been increased to Rs 2,910 per tone.

HCP Plastene Bulkpack has executed loan agreement with HDFC Bank for availing Fund Base & Non Fund Base Credit Facility (Cash Credit Limit, Pre-Shipment Credit in Foreign Currency (PCFC), Post Shipment Credit, Letter of Credit). Size of Agreement is Rs 27 crore.

Sundaram Finance is reworking strategy to bring down the share of lending to the medium and heavy commercial vehicle (MHCV) segment from 25 per cent to below 20 per cent in expanding loan book in medium term. It is looking to scale up SME lending share to 8-10 per cent share from present two per cent over the medium term.

Reliance Industries (RIL) is seeking shareholder approval to alter its memorandum of association (MoA) to include two new sub-clauses pertaining to engineering, procurement and construction (EPC) services. The development comes following the approval by the RIL board in October to restructure the EPC business, which is part of Reliance Projects and Property Management Services, a wholly-owned subsidiary of the company. The board had given its nod on October 21 for the EPC and infrastructure undertaking of Reliance Projects and Property Management Services to be merged into RIL. The deal was a related-party transaction and was being done at arm’s length.