Infosys said after market hours yesterday, 10 December 2015, that it has won a five-year contract to transform the application landscape of DNB Bank of Norway.
TCS announced the inauguration of phase II of its campus at Kalinga Park in Bhubaneswar. With the addition of 3,000 seats in phase II, the Kalinga Park campus now has operational capacity of 4,000 seats. The announcement was made after market hours yesterday, 10 December 2015.
Maruti Suzuki India reportedly plans to raise prices of its cars by up to Rs 20,000 from 1 January 2016 to offset the cost increases and unfavourable foreign exchange rates.
Cipla announced that the board of directors of the company on 10 December 2015, approved the transfer of the consumer healthcare business of the company to Cipla Health on a going concern basis by way of a slump sale for a lumpsum consideration of Rs 16 crore. Cipla Health is a newly incorporated subsidiary of the company and was incorporated on 27 August 2015. It will focus its business activities in the consumer healthcare space. The company made the announcement after market hours yesterday, 10 December 2015.
The consumer healthcare business to be transferred to Cipla Health includes the scope of the business as approved on 9 July 2015 along with certain additional business. The amount and percentage of the turnover contributed by the consumer healthcare business of the company for the financial year ended 31 March 2015 (FY 2015) was Rs 54.28 crore and about 0.48% respectively. The net worth of consumer healthcare business of the company as on 31 March 2015 was Rs 7.88 crore contributing 0.07% of the net worth of the company.
The transaction will enable Cipla to participate in the attractive and growing over-the-counter market.
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Pursuant to the Board approval, the business transfer agreement is in the process of being finalised. The transaction is expected to be completed within the fourth quarter of the financial year ending 31 March 2016 (FY 2016), subject to the execution of the agreement and completion of certain conditions precedent.
Tata Power Company announced that Tata Power Solar, India's largest integrated solar player, has successfully commissioned a 12 megawatts (MW) solar rooftop project for RSSB Educational & Environmental Society (RSSB-EES) in Amritsar, Punjab. This project is the largest solar rooftop plant in the world, set up in a single phase. The plant will produce more than 150 lakh units of power annually and offset over 19,000 tonnes of carbon emissions every year. RSSB is a non-profit philosophical organization with its headquarters in Beas, Punjab. The company made the announcement after market hours yesterday, 10 December 2015.
Siemens announced that it has won an order worth about Rs 102 crore to supply a 400 kV Gas Insulated Switchgear (GIS) Substation to West Bengal State Electricity Transmission Company (WBSETCL). The scope of the order includes engineering, supply, installation and commissioning of the GIS Substation. The 400 kV GIS solution is being manufactured at Siemens' manufacturing plant at Aurangabad. The company made the announcement after market hours yesterday, 10 December 2015.
Vinati Organics announced that it has entered into long term tripartite agreement with USA & Japan based chemical companies for supply of a customized product. Due to this turnover is expected to increase by Rs 45 crore for the year ending 31 March 2017 (FY 2017). The company made the announcement after market hours yesterday, 10 December 2015.
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