Dilip Buildcon has been declared as the Lowest-1 (L-1) bidder for the project of 4 laning, rehabilitation and up-gradation of NH-4 from Nalagampalli to AP/Karnataka Border from Km 171.590 (Design km 172.00) to Km 216.912 (Design km 219.687) under NHDP-IV in the state of Andhra Pradesh on EPC mode. The contract amount for this four lane NHAI project on EPC mode in the state of Andhra Pradesh project, to be executed on EPC basis, is Rs 503.10 crore with 24 months of completion period.
Sundram Fasteners has acquired 16,80,000 equity shares (constituting 24%) of Rs 10 each from Bleistahl Produktions GmbH & Co. KG (Bleistahl), in the share capital of Sundram Precision Components (SPCL) (formerly Sundram Bleistahl), a subsidiary of the company. With this acquisition, Sundram Fasteners has 100% equity stake in SPCL (prior to acquisition, the company was holding 76%) and SPCL has thus become a wholly owned subsidiary of the company with effect from March 27, 2017.
OM Metals Infraprojects has secured a Letter of Intent (LoI) from Indra Sagar Project (Canals), District Sanawad, Khargone, Narmada Valley Development Authority, Government of Madhya Pradesh for supply and laying of pipe line on right bank of Upperveda project on Turnkey Basis for value amounting Rs 13.50 crore. OM Metals Infraprojects is a conglomerate having diverse business activities and interests related to Hydro mechanical equipments, turnkey solutions for steel fabrication, Hydro power developments, Real Estate, Entertainment centers and Hotels.
Puravankara has successfully exited from the investment of Rs 403 crore at Raidurg, Panamaktha Village in Karnataka. The company has received an aggregate Rs 475 crore in this transaction, with an unrelated third party in an arm's length transaction. Further, the company has transferred the entire shares in three wholly owned subsidiaries to the unrelated third party. Puravankara (formerly Puravankara Projects) is a leading real estate company in India, with significant presence in Bengaluru, kochi, Chennai, Hyderabad and Mysore.
Persistent Systems, a global software and technology developer, is among the first AWS Partner Network (APN) Partners to create a support practice around Amazon Connect, a new cloud-based contact center service from Amazon Web Services (AWS). AWS launched Amazon Connect on March 28, 2017. Persistent Systems plans to initially focus on key verticals including Finance and Healthcare. The company brings strong expertise in digital and deep understanding of AWS technology so its customers can fully benefit from Amazon Connect as it integrates with existing data sets to deliver support specific to them.
ICICI Bank has entered into partnership with Truecaller, a leading Swedish communication company and India’s third most used app to power a new UPI based mobile payment service. Christened ‘Truecaller Pay’ will allow millions of users of the app in the country to instantly create a UPI id, send money to any UPI id or a mobile number registered with the BHIM app. It will also enable users to recharge their mobile number from within the Truecaller app itself. This partnership makes the Truecaller-ICICI Bank platform among India’s largest mobile payment platform with 150 million customers of the app gaining access for UPI based payments.
In a major breakthrough, Emmbi Industries has launched ‘Jalasanchay Brand’, the pond liners for storing water at its newly acquired and furbished manufacturing facility at Silvassa on this auspicious day of Gudhi Padva. The company will produce under ‘Jalsanchay Brand’ 4380 ponds per year creating an extra water storage capacity of 48 million liters per day for the country. All the manufacturing equipments used are of advanced cutting edge technology giving a special pedestal to Emmbi over the global competition.