Exide Industries, AZAD Engineering and Happiest Minds Technologies to see some action today

16 Jan 2025 Evaluate

Exide Industries (EIL) has invested Rs 150 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions (EESL), on rights basis. With this investment, the total investment made by the company in EESL stands to Rs 3302.23 crore. There is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition.

AZAD Engineering has signed a Long Term Supply Agreement with GE VERNOVA INTERNATIONAL LLC, USA for the supply of highly engineered, complex rotating and stationary Airfoils for Advanced Gas Turbine Engines to meet their global demand in the power generation industry. This current phase of the contract, valued at $112 million (Rs 960 crore) is a robust step towards cementing the company’s everlasting strategic relationship with GE VERNOVA INTERNATIONAL LLC, USA.

Happiest Minds Technologies has collaborated with Coca-Cola Beverages Vietnam, creating a series of GenAI solutions through their Generative AI Business Services (GBS). In a consultative approach, Happiest Minds collaborated closely with the strategic team at Coca-Cola Beverages Vietnam during a discovery phase. This phase aimed to comprehensively understand the business requirements and explore how GenAI could effectively support them in achieving their goals.

Deep Industries has acquired 100% equity stake of Indra Offshore Services (INDRA) on January 15, 2025. Pursuant to acquisition of the shares of INDRA, it has become a wholly owned subsidiary of the company as per the Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time. The proposed investment is expected to bring more strategic and operational efficiency for the company.

Jost's Engineering Company has bagged purchase order from Haryana Vidyut Prasaran Nigam for Procurement of 2 sets of Emergency Restoration System (ERS). Order Value is Rs 29.50 crore inclusive of GST and other relevant charges. The delivery must be completed within 8 months from the date of issue of Purchase Order or approval of drawing/technical data whichever is later, in Haryana.

Arfin India has incorporated a new wholly owned subsidiary (WOS) Company with an Authorised Capital of Rs 1 crore and paid up capital of Rs 10 lakh. The new subsidiary, Arfin Titanium And Speciality Alloys, has been incorporated under the Companies Act, 2013 on January 14, 2025. The new WOS has been incorporated for manufacturing, processing, melting, treating, importing, exporting, and dealing with ferrous and non-ferrous metals, alloys, precious metal, steels, scraps, castings, and allied products in various forms and combinations.

Sprayking has expanded its product line with the introduction of high-quality gas fittings parts. This new venture marks an exciting development for the company, reflecting its commitment to innovation, customer satisfaction, and continued growth in the industry.

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