Rail Vikas Nigam, Wipro and Sun Pharma to see some action today

Rail Vikas Nigam has received Letter of Award from National Thermal Power Corporation (NTPC) for Project Execution Agency (PEA) contract for execution of Balance Civil & HM works of Barrage Complex including part HRT package of Rammam Hydro Electric Project Stage-III (3x40 MW). The project cost is Rs 495.14 crore (excluding GST). The said project is expected to be completed in 66 months. 

Wipro has secured order worth $500 million from a leading US Communication Service Provider. The company shall provide managed Services for some products and industry specific solutions. The contract is to be executed over a period of 5 years.

Sun Pharmaceutical Industries has entered into an agreement with HaystackAnalytics (Haystack), pursuant to which Sun Pharma has agreed to acquire 9.6 % of total outstanding securities. Cost of acquisition is Rs 33 crore. The said acquisition is expected to be completed by July 2024. 

Alkem Laboratories has planned to invest an amount of Rs 30 crore in the (Pre-Series A) Compulsorily Convertible Preference Shares of HaystackAnalytics. The proposed investment is a strategic investment by the company. It will help the company to participate in growing diagnostic space and leveraging Haystack's expertise in advanced genomic data analysis to drive its business based on the detailed analytics from the generated reports. The said transaction is expected to be completed on or before July 31, 2024 or such extended period as may be agreed upon. 

Muthoot Microfin has entered into strategic co-lending partnership with the State Bank of India (SBI). With this collaboration, the company aims to extend its financial services to women entrepreneurs in rural and semi-urban regions across India. Under this agreement, Muthoot Microfin and SBI will co-lend to members of Joint Liability Groups (JLGs) who are engaged in agricultural and allied activities as well as other income-generating enterprises. The loan amounts will range from a minimum of Rs 10,000 to a maximum of Rs 3,00,000, providing a substantial boost to women entrepreneurs from rural regions.

India Pesticides has successfully commissioned an intermediate plant towards Backward Integration of one of the Fungicide which was primarily being imported. It is based on the company’s in-house Indigenous R&D Technology. This is one of many steps taken by the company in line with the ‘Government of India’s initiative ‘Aatma Nirbhar Bharat’ by substituting import and manufacturing in India.

IRB Infrastructure Developers’ gross toll collection in May 2024 stood at Rs 535.50 crore as compared to Rs 411.10 crore in May 2023 i.e. up by 30.26%. Under IRB Infrastructure Developers, in the month of May 2024, IRB MP Expressway collected Rs 152.60 crore toll, IRB Ahmedabad Vadodara Super Express Tollway collected Rs 64.50 crore toll in the same month, CG Tollway received Rs 31.40 crore toll, Udaipur Tollway collected Rs 27.20 crore toll, Palsit Dankuni Tollway collected Rs 14.50 crore toll, AE Tollway received toll of Rs 20.60 crore, toll of Rs 18.40 crore collected by Yedeshi Aurangabad Tollway, toll of Rs 26.00 crore collected by IRB Hapur Moradabad Tollway, Kaithal Tollway collected Rs 11.20 crore toll, Kishangarh Gulabpura Tollway collected toll of Rs 19.90 crore, IRB Westcoast Tollway collected Rs 13.10 crore toll, Solapur Yedeshi Tollway collected toll of Rs 9.90 crore and IRB Golconda Expressway collected Rs 62.70 crore toll. Samakhiyali Tollway collected toll of Rs 12.10 crore, IRB Lalitpur Tollway collected toll of Rs 35.50 crore, toll of Rs 6.10 crore and Rs 9.80 crore collected by IRB Kota Tollway and IRB Gwalior Tollway respectively.