Actions that will go into action today (December 21)

Adani Companies, which participated in the invitation to tender process invited by UPEIDA for the development, financing and construction of the Ganga highway on a PPP basis, won three new Ganga highway projects on the basis of from DBFOT (toll). The proposed new Ganga highway will be India’s longest highway under the PPP and will link Meerut to Prayagraj in Uttar Pradesh. The estimated combined cost according to UPEIDA for groups II, III and IV is Rs 17,085.16 crore. The construction period is three years and the duration of the concession is 30 years.

Wipro signed an agreement to acquire Edgile, headquartered in Austin, TX, a transformational cybersecurity consultancy provider that focuses on risk and compliance, information and cloud security, and digital identity .

Kalpataru Power Transmission (KPTL) and Techno Electric & Engineering Company (TEECL), a joint venture partner in KMTL, have successfully completed the transfer of 49 percent stake (23 percent by KPTL and 26 percent by TEECL) in Kohima-Mariani Transmission Ltd (KMTL) to Apraava Energy Pvt Ltd (formerly known as CLP India Private Limited). The remaining interest in KMTL will be transferred by KPTL in accordance with the terms of the Transportation Service Agreement (TSA). KPTL and TEECL had entered into a binding agreement in July 2019 with Apraava Energy Pvt Ltd to sell their respective stakes in KMTL.

TVS Motor Company has partnered with localization technology provider what3words to provide its two-wheeler customers with a smooth and precise navigation experience by integrating what3words into the TVS Connect app.

The board of directors of Steel Exchange India Ltd will meet on December 24th to review and approve a proposal to assess different options for corporate restructuring in order to realign the company’s vertical interests for better business through synergies / unlocking strategic value / investing in assets organic and inorganic identified of the company for the creation of value for all stakeholders of the company.

RailTel Corporation of India Ltd received a work order from the Defense R&D Organization for the expansion and improvement of the capacity of the CIAG network at a total cost of Rs 68.31 crore (GST included). All work must be completed within seven months.

Rolex rings signed a memorandum of understanding with the government of Gujarat for the development of a textile and clothing park, computer park and toy park in Gondal district for a proposed investment of Rs 1,500 crore .

Global KPI infrastructure received confirmation of orders for the execution of a solar energy project with a capacity of 2.50 MWdc from Vineet Polyfab Private Ltd, Surat, as part of the “Captive Power Producer (CPP)” segment of the company.

GlaxoSmithKline Pharmaceuticals has entered into a transaction relating to the sale of the business enterprise of the company, i.e. manufacturing facilities as well as land, plant and machinery, assets, software and equipment located in Vemgal , Karnataka, to Hetero Labs Ltd.

Somany Ceramics embarks on expansion in western Uttar Pradesh, with the launch of Somany Duragres Lounge exclusively for glazed vitrified tiles at Indirapuram – SA Tiles Pvt Ltd. This living room spans 1,700 square feet and lives up to the expectations set by the brand in terms of design and aesthetics.

Agro Hatsun Product, which earlier announced the inauguration of an ice cream factory with a production capacity of 1,000,000 kg per day in Telangana, started commercial production from December 19.

Lyka Laboratories has an outstanding prepaid term-1 loan of Rs 64.70 crore to International Asset Reconstruction Company Pvt Ltd (IARC) on December 18th.

ITI received a work order from TANFINET (Tamil Nadu Fibrenet Corporation Ltd, a government company of Tamil Nadu) regarding BharatNet Phase-II in Tamil Nadu for package D. The contract value is Rs 432.97 crore and is to be implemented within 360 days, followed by three years for operation and maintenance from the date of commissioning of the project in accordance with the delivery schedules.

Wardwizard Innovation & Mobility Ltd signed a memorandum of understanding with the government of Gujarat for an investment of Rs 500 crore to facilitate the growth of the electric vehicle industry, creating an electric vehicle auxiliary group and aiming to create more than 6,000 jobs.

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