Daily Corporate Updates: December 11, 2024 {update}

LTIMindtree Partners with GitHub

LTIMindtree has joined hands with GitHub to enhance enterprise innovation. The partnership focuses on combining GitHub’s DevOps and AI-powered pair programming tools with LTIMindtree’s expertise in AI-driven digital engineering. This collaboration aims to accelerate innovation for businesses.

PNC Infratech Completes Key Highway Project

PNC Infratech announced the completion of four lanes of a national highway in Uttar Pradesh. This project is expected to improve connectivity and boost regional infrastructure development.

Saakshi Medtech Bags EV Panel Contract

Saakshi Medtech and Panels secured a Rs 250 crore order from Mahindra & Mahindra. The contract includes the supply of EV panels with a three-year warranty. This deal aligns with the increasing focus on electric vehicles in India.

BEML Receives Defence Ministry Order

BEML has bagged an order worth Rs 83 crore from the Ministry of Defence. The order includes the supply of 50-tonne trailers, which are crucial for defense logistics.

Triveni Engineering Approves Business Restructuring

Triveni Engineering & Industries has approved a composite scheme of arrangement with Sir Shadi Lal Enterprises and Triveni Power Transmission. The restructuring is aimed at improving operational efficiency and business focus.

Awfis Stake Sale via Block Deal

Investors in Awfis Space Solutions, including Bisque Ltd., Link Investment Trust, and Peak XV Partners, announced plans to sell a 12.2% stake via a block deal. The floor price is set at Rs 680 per share, a 5% discount on the previous closing price. The deal is valued at Rs 583.4 crore.

Vraj Iron and Steel Gets Project Clearance

Vraj Iron and Steel received operational consent for its Sponge Iron and Power Plant expansion project in Chhattisgarh. The approval came from the Chhattisgarh Environment Conservation Board.

Hinduja Global Solutions to Merge Subsidiaries

Hinduja Global Solutions announced its step-down arm will merge five of its subsidiaries. The merger is part of its strategy to simplify operations and enhance efficiency.

Blue Jet Healthcare Completes Production Block

Blue Jet Healthcare completed commissioning of its production block at the Ambernath Unit II. This addition is expected to boost production capacity.

Infosys Collaborates to Promote STEM Education

Infosys has partnered with four STEM organizations to improve access to science, technology, engineering, and mathematics education for students in Indiana. The collaboration focuses on career opportunities in emerging technologies.

HG Infra Secures Road Project

HG Infra Engineering received a letter of acceptance worth Rs 763 crore from the Ministry of Road Transport and Highways. The project involves road construction and is expected to enhance regional connectivity.

Karnataka Bank Expands Retail Assets

Karnataka Bank introduced a retail assets center to grow its retail loan business. This move is part of its efforts to diversify revenue streams and cater to individual customers.

JSW Steel Faces GST Demand

JSW Steel received a GST demand order of Rs 64 crore. The demand is related to alleged non-payment of GST on mining rights from 2017 to 2019.

BHEL Receives Tax Demand

Bharat Heavy Electricals Limited (BHEL) received a Rs 30.6 lakh demand order from Maharashtra’s sales tax department. The order pertains to older tax liabilities.

LIC Increases Stake in Asian Paints

Life Insurance Corporation (LIC) increased its stake in Asian Paints from 5.001% to 7.010%. This move highlights LIC’s confidence in the company’s future growth.

Reliance EV Go Launched

Reliance Infrastructure announced the incorporation of a new subsidiary, Reliance EV Go. The company will focus on manufacturing and selling electric vehicles.

Royal Orchid Hotels Expands

Royal Orchid Hotels announced a new Regenta property in Pune, Maharashtra. This expansion aligns with its strategy to grow its presence in major cities.