Wipro and Alight Solutions, a leader in technology-enabled health, wealth and Human Capital Management (HCM) solutions, have agreed to expand their relationship by signing a definitive agreement to divest Wipro's Workday and Cornerstone OnDemand business to Alight for cash consideration of up to $110 million, of which $100 million would be payable at closing and the balance, $10 million, would be a deferred consideration payable at the end of 12 months based on the achievement of performance targets. The announcement was made after market hours yesterday, 27 February 2019.
Tata Metaliks said its board reviewed and discussed the opportunities for growth through capacity expansion at its existing plant in Kharagpur and consequent funding options. The board approved capacity expansion of DI pipe capacity by 2 lakh tonne per annum (LTPA) and hot metal capacity by 0.7 LTPA. The capacity will be expanded by March 2022 with an investment of Rs 555 crore. Further, the board also approved issuing 29 lakh equity shares and 36 lakh convertible warrants to promoter, Tata Steel, on preferential basis. The proposed funding will help in funding the expansion project and also strengthen the balance sheet, the company said. The announcement was made after market hours yesterday, 27 February 2019.
Quick Heal Technologies said that its board will meet on 5 March 2019, to consider a proposal for buyback fully paid up equity shares of the company. The announcement was made after market hours yesterday, 27 February 2019.
Varroc Engineering announced that phase I of plant set-up by its wholly owned step down subsidiary, Varroc Lighting Systems S.A. Morocco, has commenced commercial operations from 26 February 2019. The said plant will manufacture and supply automotive lighting parts. The announcement was made after market hours yesterday, 27 February 2019.
Odisha Cement informed that certain mutual fund units, valued at approximately Rs 344 crore have been illegally and unauthorisedly transferred by the depository participant ('DP') from the demat accounts held by our erstwhile subsidiaries, OCL India (OCL) and Dalmia Cement East (DCEL). The company has reported the matter to National Securities Depository (NSDL), National Stock Exchange (NSE) and other appropriate authorities including Sebi. The investigation has already been initiated by Sebi and appropriate actions are being taken including keeping the transfer/redemption of the said units on hold. The firm has also filed a criminal complaint with the Economic Offences Wing, New Delhi. The announcement was made after market hours yesterday, 27 February 2019.
Allahabad Bank said that its board approved raising equity capital of the bank by an amount aggregating upto Rs 6896 crore through preferential issue of equity shares to the Government of India against their capital infusion of Rs 6896 crore in the bank, subject to requisite approval of shareholders and other statutory/regulatory authorities. The announcement was made after market hours yesterday, 27 February 2019.
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