HFCL B.V., a wholly owned subsidiary of HFCL in the Netherlands, has established a wholly owned subsidiary company namely HFCL UK in the UK. Consequently, HFCL UK has also become a step-down wholly owned subsidiary of the company. HFCL UK has been incorporated inter-alia to carry on the business of manufacturing and trading of Optical Fiber, Optical Fiber Cables, Telecom and Networking Products and other allied activities.
VA Tech Wabag has received approval for the sale of 100% stake in Wabag Water Services S.R.L., Romania (Wabag Romania). This move is a part of the business strategy to optimize the Group's structure and in line with the company’s strategic focus to reduce its exposure to European Geographies. The consideration received from such sale/disposal is EUR 1,200,000.
Diamond Power Infrastructure has received a letter of intent from Adani Green Energy worth Rs 409 crore (inclusive GST) for supply of various LV/MV Cables. The work has to be completed within December, 2024 from the date of acceptance.
Maruti Suzuki India is planning to utilise Indian Railways to transport 35 per cent of the vehicles produced across its factories over the next 7-8 years. The share of vehicle dispatches through railways scaled to 21.5 per cent in the 2023-24 fiscal from 5 per cent in 2014-15. The country's largest carmaker's vehicle dispatches through railways increased from 65,700 units in 2014-15 to 4,47,750 units in 2023-24.
Bandhan Bank has launched an array of trade products to facilitate global business transactions. The bank has launched products like Remittances, Letter of Credit (LCs), Bank Guarantees (BGs), Export Import Collection bill, bill/invoice discounting, etc. These new products and facilities will empower the bank’s SME and corporate customers with opportunities to expand their businesses globally. Even Retail customers would be able to use these facilities for remittances to other countries.
Dixon Technologies has announced plans to divest its entire 50 per cent stake in the joint venture company AIL Dixon Tech to Aditya Infotech. As part of the transaction, Dixon Technologies will acquire 6.5 per cent stake in Aditya Infotech in exchange for the divestment.
Mahanagar Gas (MGL) has increased the price of compressed natural gas (CNG) to Rs 75 per Kg and domestic piped natural gas to 48 per standard cubic meter (SCM) in and around Mumbai.
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