NBCC (India) has secured contract worth approximately Rs 440 crore from ESIC, Ministry of Labour & Employment, Government of India for construction of 100 bedded hospital(s) at Haridwar and Dehradun (Uttarakhand) and 300 bedded hospital at Indore, Madhya Pradesh. The announcement was made after market hours yesterday, 20 September 2016.
Wipro announced global partnership with Witbe, a leading innovator in the field of test automation and services quality of experience (QoE) monitoring robots for broadband, voice and TV triple-play monitoring. This partnership is of strategic importance to Wipro, and will offer integrated test automation and video services monitoring solutions for customer deployments across set top box, mobile platforms and other handheld devices. These solutions will benefit new and existing customers of Wipro and Witbe including semiconductor players, Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs) and service providers in the media industry. The announcement was made after market hours yesterday, 20 September 2016.
In a separate announcement after market hours yesterday, 20 September 2016, Wipro announced that it has joined Oracle's newly announced Oracle Cloud Managed Service Provider (MSP) Program. Wipro is a Diamond level member of Oracle PartnerNetwork (OPN) and has an OPN Cloud Select designation. The Wipro Boundaryless Data Center (BLDC) offering is based on an innovative IT transformational approach that enables enterprise ITaaS (IT as a Service) through a universal marketplace. BLDC is integrated with Oracle IaaS (Infrastructure as a Service) and PaaS (Platform as a Service) services, and provides a unified platform to drive hybrid IT journey for enterprises by enabling dynamic sourcing, automated provisioning, monitoring and management. In collaboration with Oracle, Wipro will build standard reference architectures, workload blueprints and continuous deployment solutions for accelerated cloud transformation.
Mahindra & Mahindra (M&M) announced regarding incorporation of a subsidiary company in Brazil namely CMN Solutions Q013 Participacoes Ltda (target). M&M along with its wholly owned subsidiary Mahindra Overseas Investment Company (Mauritius) (MOICML) would acquire 100% of the capital stock of the target which would further acquire assets of a tractor distributor in Brazil viz. Bramont Montadora Industrial e Commercial de Veiculos S.A. (Bramont). The target is a shell company engaged in tractor distribution and has no operations till date. The cost of acquisition would not exceed $8.02 million out of which M&M would pay a consideration not exceeding $8 million for its stake in the target. The consideration for acquisition in cash would be paid upon receipt of approval from the Reserve Bank of India (RBI). The indicative time period for completion of the acquisition is October 2016. The announcement was made before market hours today, 21 September 2016.
IRB Infrastructure Developers (IRB) said that it has emerged as a preferred bidder for the project of six Laning from Kishangarh Udaipur Ahmedabad section of around 125 kilometres in Rajasthan. The project is on design-build-finance-operate-transfer (DBFOT) (Toll) pattern, under NHDP's Phase V (Package-V). The concession period of the project is 20 years including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 228.60 crore to National Highways Authority of India (NHAI) in terms of the concession agreement. Upon award of this project, IRB's construction order book will stand to increase to approximately Rs 11300 crore, to be executed in the next four years. This will boost the company's construction orderbook visibility for next three to four year. The announcement was made after market hours yesterday, 20 September 2016.
Piramal Enterprises said that the duly empowered Committee of Directors has approved a proposal to down-sell a part of the company's lending portfolio, forming part of its financial services business, to its wholly owned subsidiary Piramal Finance, for a net consideration of Rs 1450 crores. Relevant agreements to give effect to this would be executed. This proposal is expected to be completed by end-October 2016. The announcement was made after market hours yesterday, 20 September 2016.
TeamLease Services announced the signing of a definitive agreement to acquire Nichepro Technologies (Nichepro). The transaction remains subject to customary closing conditions and regulatory approvals. TeamLease will acquire Nichepro for an enterprise value of Rs 29.5 crores through its wholly owned subsidiary, TeamLease Staffing Services. The transaction, which will be immediately accretive to TeamLease's earnings per share, will be financed with existing financial resources and is expected to close before the end of October 2016. Nichepro is a Tier 1 staffing provider to reputed MNC'S and niche product companies. The announcement was made after market hours yesterday, 20 September 2016.
Vardhman Textiles said that a meeting of the board of directors of the company will be held on 24 September 2016, to consider proposal to buy-back the fully paid-up equity shares of the company. The announcement was made after market hours yesterday, 20 September 2016.
Shares of Inox Leisure will be in focus after the Reserve Bank of India (RBI) notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24% up to 49% of the paid up capital of Inox Leisure under the Portfolio Investment Scheme (PIS). The Reserve Bank of India (RBI) has stated that the company has passed resolution at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.
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