Welspun Enterprises (WEL) joint venture (JV) - Adani Welspun Exploration (AWEL), in which WEL holds 35% stake, has been awarded the contract area B-9 Cluster by the Government of India in the recently concluded bidding of the Discovered Small Field Bids Round (DSF 2016). The area of the Cluster is 183 square kilometres and comprises of three offshore fields, B-9, B-7 and BRC, located in the Mumbai Offshore basin. The block is in close proximity to AWEL’s prospective exploratory block and ONGC’s B-12 area, which is under advanced stage of development.
Thermax through its step-down subsidiary in Denmark has agreed to acquire 100% share capital of Barite Investments Sp. z.o.o., Poland, on March 28, 2017. With this, Barite will become a step-down subsidiary of the company. As part of a definitive agreement with Weiss Sp. z.o.o. in Poland, Thermax will acquire certain assets and production activities related to boiler manufacturing. The agreement was signed on March 28, 2017 and the transaction would be completed after fulfilling certain pre-conditions. The acquisition is of strategic advantage to Thermax since it provides the company additional manufacturing capacity for future expansion and for advancing its business in Eastern Europe.
Tata Consultancy Services (TCS) has expanded long-standing partnership with Siemens to deliver a comprehensive set of plant solutions for enabling the connected Digital Enterprise. By adding Siemens' entire Manufacturing Operations Management software portfolio to their agreement, TCS can now showcase the complete suite of Siemens software and services at the TCS Plant Solutions Center of Excellence, which was inaugurated in Pune on March 29, 2017. With a full range of solutions, the facility will support proof of concepts, and illustrate how enterprise-wide digitalization is transforming the global manufacturing industry. The goal is to give customers a unique environment to build and test digital solutions using the world's most advanced PLM and MOM software technology.
Tata Motors has launched their much-awaited mid-segment sedan - Tigor. With prices starting from Rs 4.7 lakh to 6.19 lakh for the petrol version and Rs 5.6 lakh to Rs 7 lakh for diesel, (ex-showroom, Delhi) the company has positioned the new model, based on the Tiago platform, as a style back. It has been loaded with features like dual-tone front bumpers, smoked projector headlights, 15-inch alloys and LED taillights (varying with variants). On the inside too, the Tigor gets a host of features, which include a five-inch infotainment system, eight-speaker system from Harman, automatic climate control, among others.
Mukta Arts’ wholly-owned subsidiary-Mukta A2 Cinemas has formed a Limited Liability Partnership (LLP) with Asian Cinemas, one of the biggest cinema brands of South India, to make over 25 single screens across the southern circuit in 18 months. Asian Cinemas is known for providing world class movie experience at an affordable price and in a very short span of time have marked their presence in the industry as well as in the audience’s hearts. The Hyderabad based Media and Entertainment Company owns a chain of multiplexes and cineplexes across South India.
Bharat Financial Inclusion (formerly known as SKS Microfinance) has completed a securitization transaction for a pool amount of Rs 223.42 crore. With this, the company has completed four securitization transactions aggregating to Rs 1,075.86 crore in FY17. The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of India’s Priority Sector lending guidelines. The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
Great Eastern Shipping Company’s (GE Shipping) wholly-owned subsidiary - Greatship (India) (GIL), has completed the acquisition of shares of Greatship Global Energy Services (GGES) from Greatship Global Holdings (GGHL), a wholly-owned subsidiary of GIL, thereby making GGES the direct 100% wholly owned subsidiary of GIL with effect from March 28, 2017.