Sovrenn Latest News Bulletin - 2nd Feb 2024
SAR TELEVENTURE LIMITED
The Company has entered into a revenue-sharing agreement with Bharat Sanchar Nigam Limited (BSNL) to deliver BSNL telecom services (including fixed, wireless, broadband, etc.) to end users at Noida, Lucknow and Faridabad. Company has to create infrastructure for providing BSNL telecom services, revenue sharing will be 50-50%. The agreement is valid for 10 years and is renewable.
TATA CONSULTANCY SERVICES LIMITED
Tata Consultancy Services (TCS) has been named in the FORTUNE® Magazine 2024 list of the World's Most Admired Companies. Guided by a deep-rooted culture of innovation and commitment to driving value for customers, TCS retained a spot on the list for the second time since debuting last year. The list of the World's Most Admired Companies is based on a survey of 3,700+ senior business executives and financial analysts recognizing companies that have shown exceptional innovation, social responsibility, global competitiveness and elevated quality of products and services.
EPACK DURABLE LIMITED
Company announced the commencement of production of “Domestic Air Cooler”. It is a step taken towards expansion of Company’s business and increasing the customer base. It will lead to utilization of existing capacities and resources without making any significant investments, estimated amount to be invested is only INR 35- 40 lakhs. Annual turnover estimated from the domestic air cooler business is INR 80 Crores.
Company is the lowest bidder (L-1) in the tender for Construction of Proposed Multi Level Car Parking at Nagar Nigam Office, Distt- Meerut (U.P). The estimated order value is INR 34.7 Cr.
HERO MOTOCORP LIMITED
Hero MotoCorp - India's Leading two-wheeler manufacturer, sold 433,598 lakh units in January 2024. This translates into a robust 22% growth over the corresponding month (January 2023), when it had sold 356,690 units.
HIMADRI SPECIALITY CHEMICAL LIMITED
Himadri Clean Energy Limited, the Wholly Owned Subsidiary of the Company has completed acquisition of 100% Equity Shares of Himadri Future Material Technology Limited by way of purchase of Equity Shares from the existing shareholders of the Target Company. By this acquisition, the Company will set up the manufacturing facility for Cathode Active Material through Step down WOS.
HINDUSTAN UNILEVER LIMITED
Scheme of Amalgamation of Ponds Exports Limited (First Transferor Company) and Jamnagar Properties Private Limited (Second Transferor Company), Subsidiaries of Hindustan Unilever Limited with Unilever India Exports Limited (Transferee Company), Wholly owned subsidiary of HUL and their respective shareholders has been approved by the Hon’ble National Company Law Tribunal (‘NCLT’), Mumbai Bench vide order dated 16th January 2024.
KINGS INFRA VENTURES LIMITED
Company is expanding its presence in the domestic retail market with the Kings Bento brand of ready-to-cook, ready-to-heat delicacies. Company unveiled the Kings Bento Logo on Wednesday in Kochi accompanied by a food tasting session. The Chairman expressed his confidence that Kings Bento will achieve great success in their new venture.
MAHANAGAR GAS LIMITED
Company has acquired 100% equity shares of Unison Enviro Private Limited on 1st February 2024 through purchase of shares from its existing shareholders at a cash consideration of Rs. 562.09 Crore. Accordingly, UEPL has become Wholly Owned Subsidiary of the Company. Further, in accordance with the arrangement with lenders of UEPL, the Company has provided Corporate Guarantee to the lenders of UEPL to assure the due performance and compliance of terms of borrowings by UEPL.
OCEAN SERVICES LIMITED
Company has received an award for “Excellence in Innovation Business Spend Management Software India 2023” in the Global Banking and Finance Review Awards 2023.
ELECTRONICS MART INDIA LIMITED
Electronics Mart India Limited has commenced the commercial operation of two new Multi Brand Stores under the brand name ‘BAJAJ ELECTRONICS’ on 1st February 2024 at Prakasham District, in Andhra Pradesh.
FORTIS MALABAR HOSPITALS LIMITED
Fortis Malar Hospitals Limited has successfully consummated the transaction for the sale of its business operations pertaining to Fortis Malar Hospital on slump sale basis, to MGM Healthcare Private Limited, on the terms and conditions as contained in the Business Transfer Agreement entered into between the Company and MGM.
FIRSTSOURCE SOLUTIONS LIMITED
Firstsource Solutions Limited, a global provider of Business Process Management (BPM) services and an RP-Sanjiv Goenka Group company, has been ranked in the top 96th percentile on the Dow Jones Sustainability Index, in its first year of participation. The rating comes with an impressive CSA and ESG score of 62 (as of January 23, 2024).
SRIVARI SPICES & FOODS LIMITED
Company has successfully placed its products in 50 Reliance Limited Stores across the state of Telangana and 13 Balaji Grand Bazar Stores across the city of Hyderabad.
BATA INDIA LIMTED
The Board of Directors of Bata India Limited has accorded its in‐principle approval for monetizing the Company's freehold industrial land admeasuring approximately 11.54 acres situated in Faridabad, subject to necessary process/formalities being completed.
ORIENT GREEN POWER COMPANY LIMITED
Board of Directors of Delta Renewable Energy Private Limited (Wholly Owned Subsidiary) of the Company have approved to develop Solar Energy Capacity in two Phases ie. Phase I - 19.8 MW Solar Power Project and Phase II - 19.8 MW Solar Power Project in the state of Tamil Nadu. The Phase I and Phase II project are proposed to be developed though an EPC Contractor. Considering the same, the Board of Directors of DELTA in its meeting held today examined the proposals received from EPC contractors and approved to accept the proposal received from SOLON India Private Limited.
S J LOGISTICS (INDIA) LIMITED
Company has received orders worth INR 70 Cr for a period of 6 months starting from February 2024 from a T&D Player for Project Cargo.
SHREE TIRUPATI BALAJEE FIBC LIMITED
STB International Private Limited (Wholly Owned Subsidiary of Shree Tirupati Balajee FIBC Limited) has been allotted a piece of land in the Industrial Area / Growth Pithampur Centre comprising of an area measuring 21,000 square Meters for a term of 99 years for the purpose of Manufacturing FIBC Jumbo Bags, Woven Sacks, Fabric, Tarpoline and Liner etc.
BANK OF BARODA
Meeting of Capital Raising Committee of the Bank is scheduled to be held on 07.02.2024 to discuss and finalize the issuance of Tier I and Tier II debt capital instruments within the board-approved capital raising plan for FY 2023-24.
TATA POWER COMPANY LIMITED
Tata Power Solar Systems Limited, a leading integrated solar company in India and a wholly-owned subsidiary of Tata Power Renewable Energy Limited, has facilitated over INR 3,500 Cr of customer financing for solar projects during the last 4.5 years. This has led the Company to emerge as the nation’s most preferred and trusted green energy partner which is mainstreaming the adoption of Solar Energy in the country. This momentum built over the years will help support the wide scaled adoption of solar energy in the country.
JEENA SIKHO LIFECARE LIMITED
Company has established ‘New Shuddhi Ayurveda Panchkarma Hospital/Daycare centre’ at Agra.