TCS has completed the acquisition of 100% shares of Postbank Systems AG from Deutsche Bank AG through its subsidiary Tata Consultancy Services Netherlands B.V. PBS is the full-range captive IT service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS and its around 1,500…
Ford Motor Company and Mahindra & Mahindra have mutually and amicably determined they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the Dec. 31 “longstop,” or expiration, date of a definitive agreement the organizations entered into in October 2019. According to the companies, the…
Wisdom Tree Ventures (WTV), a flagship IT company of Wisdom Group, has taken a step: To provide technological, financial and marketing assistance to 100 start-up ventures and budding Entrepreneurs within the next 5 years. According to the statement, “The company has chalked out a plan to address the financial vacuum created by the ongoing Covid-19 situation,…
IDBI Bank has completed sale transaction of its 23% stake to Ageas Insurance International JV on December 31, 2020 pursuant to receipt of the requisite regulatory approvals. Pursuant to sale of 23% holding representing 18,40,00,000 shares to Ageas for a consideration of Rs.507.10 crore, IDBI Bank’s shareholding in IFLI now stands at 25% from the…
GoAir, a Budget carrier, to expand services to the United Arab Emirates with the launch of new flights to Sharjah from Mumbai, Delhi, Kochi and Kannur. According to the announcement, these flights will start from Friday. Currently, flights to the UAE are operated under an Air Bubble Agreement since international commercial flights to and from…
Praj Industries Ltd. has received an Order for Rs. 226.90 crores from Indian Oil Corporation Limited (IOCL), New Delhi, for execution of Zero Liquid Discharge System – “Water Treatment Package and Waste Water Treatment Package of Acrylic/Oxo-Alcohol Project at IOCL Dumad, Gujarat”. Praj, an industrial biotechnology company is driven by innovation and delivery capabilities. Over…
Bharat Heavy Electricals Limited (BHEL) has bagged significant orders, valued at Rs.3,200 Crore, for Electro-Mechanical (E&M) works for a Hydro Electric Project (HEP) in Andhra Pradesh and E&M works of PumpMotor sets for Lift Irrigation Schemes (LIS) in Telangana. Significantly, the order for E&M works for 12×80 MW Polavaram HEP in Andhra Pradesh envisages manufacture…
Auriga Research India Pvt Ltd., Research Wing at Arbro Pharmaceuticals, partnered with PerkinElmer, Inc. to conduct testing at Kempegowda International Airport Bengaluru (BIAL). The program will include a COVID-19 sample collection booth near the gates and have a testing facility on the premises at BIAL. Mr. Hari Marar, President and CEO, Bangalore International Airport Limited (BIAL) said “The well-being…
The Board of Directors of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) approved the merger of JSHL into JSL. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL. Managing Director, JSL & JSHL, Mr Abhyuday Jindal said, “I am…
Flipkart Group’s B2B businesses — Flipkart Wholesale and Best Pricecash-and-carry stores — have witnessed an increased uptake of e-commerce in 2020. Flipkart Wholesale app, which currently offers fashion products to retailers in 23 cities, saw 75% month-on-month growth in customer base since launch in September. Flipkart Wholesale has seen 90% month-on-month growth in transactions on…
A one-stop solution to battery swapping for electric two and three wheeler vehicle startup – VoltUp and Hindustan Petroleum Corporation Ltd (HPCL) have entered into a partnership to open battery swapping centres across India. “The partnership has unveiled 2 battery swapping stations in Jaipur. In their efforts to set up smart electric mobility stations across…
Godrej Ezee liquid detergent, a brand has partnered with the India Meteorological Department (IMD), the national meteoritical agency for a initiative. As part of the association, IMD will provide severe cold weather forecast and guidance to Godrej Ezee in Delhi, Lucknow, Allahabad, Panchkula, and Kolkata. IMD will use its available data to identify areas and localities…
Maire Tecnimont S.p.A. has announced that its subsidiary Tecnimont SpA, through its Indian entity Tecnimont Private Limited, has been awarded an EPCC (Engineering, Procurement, Construction and Commissioning) Lump Sum contract by Indian Oil Corporation Limited (IOCL), for the implementation of new Acrylic Acid and Butyl Acrylate Units, for the production of relevant high added value products for the chemical market. The…
Hero Electric has tied up with eBikeGo, an electric two-wheeler rental startup and will supply more than 1,000 bikes as part of the deal. Hero Electric has delivered first batch of 120 to eBikeGo and will provide the remaining Hero Electric bikes through the next financial year. Pursuant to the tie-up, “Hero Electric will also provide…
Gurugram based, savings and investment platform Sqrrl has collaborated with tax planning and return filing platform Quicko to facilitate the process of Income Tax Return filing for 14.6 million users. The announcement informs – “As the last date of filing ITR is approaching, many professionals will rush to chartered accountants to help them out with…