Dynacons Systems, REC and Infibeam Avenues to see some action today

Dynacons Systems & Solutions has secured the Rs 280 crore project to augment the IT Data Center infrastructure of Canara Bank. This comprehensive, turnkey initiative underscores Dynacons’ expertise in delivering advanced data center solutions for mission-critical environments. The project spans five years and encompasses the supply, implementation, and maintenance of cutting-edge infrastructure, including 500 servers, high-performance storage systems, and an extensive suite of IT hardware and software. 

REC’s wholly owned subsidiary -- REC Power Development and Consultancy (RECPDCL) has handed over a project specific SPV (Special Purpose Vehicle). viz, Rajasthan IV 4A Power Transmission to Power Grid Corporation of India on December 30, 2024 at Gurugram. Power Grid Corporation of India emerged as the Transmission Service Provider (TSP) through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission project on Build, Own, Operate & Transfer (BOOT) basis.

Infibeam Avenues has received approval from key card networks for its state-of-the-art offline payment point-of-sale (POS) devices, enabling the rollout of tap-to-pay functionality across retailers and brands. The CCAvenue SoundBox – a tap-to-pay POS device, designed for simplicity, speed, and security, will empower merchants to offer seamless and contactless payment experiences offline to their customers. With the increasing adoption of digital payments across online and offline formats, Infibeam’s payment solution meets the growing demand for faster, more efficient transactions at retail outlets.

Piramal Enterprises has invested Rs 1,000 crore in Piramal Capital & Housing Finance (PCHFL), a wholly owned subsidiary of the Company by way of subscription to rights issue. PCHFL will be utilizing the aforesaid investment towards business/ general corporate purposes. There is no change in the shareholding percentage of the Company in PCHFL pursuant to the aforesaid investment. 

Jupiter Wagons has increased its shareholding in Jupiter Electric Mobility, a Subsidiary Company from existing 60% to 75% of its paid-up share capital. The increase in shareholding was consequent to issuance of additional equity shares on preferential basis and transfer of Equity Shares to the Company. 

BMW Industries has received a new long term work order, renewing its existing arrangement for the company’s NH6 unit for Tubes manufacturing & associated services, which will be valid upto October 31, 2027. The contract value of the work order over the period of the contract is expected to be Rs 188.61 crore. In addition to above, BMW Iron & Steel Industries, a 100% subsidiary, has received a new long term work order, renewing its existing arrangement for the company’s Adityapur unit for Tubes manufacturing & associated services, which will be valid upto October 31, 2027. The contract value of the work order over the period of the contract is expected to be Rs 176.09 crore.

Aimco Pesticides has made further investment of Rs 5,00,000 in its wholly owned Subsidiary -- Aimco Ecoscience. Aimco Ecoscience has completed the allotment of shares through right issue of 50,000 Equity shares at Rs. 10 each at its meeting held on December 31, 2024.