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Today’s Business Deals, Company Expansions, Stake Acquisitions and Corporate Actions

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Today’s Business Deals, Company Expansions, Stake Acquisitions and Corporate Actions – 15Th Feb

  1. India News
  2. World News

1. India News

Tera Software secures order worth Rs.288.64 crore

Tera Software, received orders for various categories of work in Andhra Pradesh Fiber grid Phase 1. The work order is divided into different sections such as operating and maintenance of PT equipment and connectivity projects for Rs. 288.64 crore.

AP Fiber Grid Phase – 1, is one very prestigious project from Andhra Pradesh State Fiber Net (APSFL) for spread fiber grid and other related works. The order work includes the operation & maintenance work of fiber grid network for a period spanning five years. The value of this project is Rs. 252.74 crore.

Order further includes annual maintenance contract (AMC) for PT equipment for Agora Software and software for server of AP Fiber Grid project. This AMC includes services, repair, maintenance and replacement of software, license, hardware and other related equipment. This order is valued at Rs. 33.75 crore.

Further, under AP Last Mile Connectivity Project, work worth Rs. 2.15 crore will be done to provide optical fiber connectivity upto 622 connections to educational institutions from APSFL POP. AP last mile connectivity includes installation and configuration of Optical Fiber Connectivity to deliver services of AP Fiber Grid.

J Kumar Infra wins order worth Rs. 444.98 crore

J Kumar Infraprojects received order worth Rs. 444.98 crore from Delhi Metro Rail Corporation (DMRC)

The contract includes part design and construction of viaduct and 3 elevated stations viz, IIT Powai, Kanjur Mark and Vikhroli (EEH).

Alembic Pharma gets USFDA for eye drops

Alembic Pharmaceuticals has received approval from the USFood & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Moxifloxacin Ophthalmic Solution USP, 0.5%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Vigamox Ophthalmic Solution USP, 0.5%, of Novartis Pharmaceuticals Corporation. Moxifloxacin Ophthalmic Solution USP, 0.5% is indicated for the treatment of bacterial conjunctivitis caused by
susceptible strains of certain organisms.

Moxifloxacin Ophthalmic Solution USP, 0.5% has an estimated market size of US$ 68 million for twelve months ending December 2018 according to IQVIA.

Alembic has a cumulative total of 86 ANDA approvals (73 final approvals and 13 tentative approvals) from USFDA.

Kridhan Infra wins order worth Rs. 187 crore in Singapore

Kridhan Infra has announced that its Singapore based 100% subsidiary KH Foges Pte. Ltd. has been awarded a new order in Singapore worth S$ 36 Million (Rs. 187 Crore).

KH Foges has been contracted to execute Piling Works & Earthworks for a Sports & Recreation Centre For a Proposed 6-Storey Sports Centre Comprising Punggol Drive and is to be executed over a period of 6-7 months.

With this new project wins, the total order book for KH Foges has climbed to above S$[90] million. The company is now the 2nd largest foundation engineering company in Singapore, possessing the prestigious L6 certification, which enables them to bid for unlimited value projects for piling work. KH Foges is a 100% subsidiary of KIL.

Heavy truck major Ashok Leyland earmarks Rs 1,000 crore capex with focus on light trucks

Ashok Leyland, the country’s third biggest commercial vehicle producer, has lined up investments for a slew of projects for FY20 even as the truck and bus maker gets busy to expand its portfolio in the light-duty segment.

The Chennai-based company will be investing around Rs 1,000 crore as capital expenditure (capex) next financial year. These would be in areas of electric vehicles, light commercial vehicles and capacity enhancement programs.

Ashwani Lohani takes charge as Air India CMD

The Appointments Committee of the Cabinet on February 13 cleared Lohani#39;s re-induction on a contract basis for a one-year tenure.

L&T wins order for power line, water treatment plants

The construction arm of Larsen & Toubro (L&T) has won orders across its power transmission & distribution (PT&D) business and water & effluent treatment business. At 10.01 am, L&T was trading at Rs. 1226.20 up by

Edelweiss, Bank of Singapore sign MoU for strategic partnership

“This is the first time that an Indian wealth manager of Edelweiss; size and stature is partnering with an offshore private bank,” Edelweiss Financial Services said in a BSE filing.

RBI imposes Rs 5 cr penalty on four PSU banks

The monetary penalty on the banks has been imposed for non-compliance with various directions issued by RBI on monitoring of end use of funds, exchange of information with other banks, classification and reporting of frauds, and on restructuring of accounts, RBI said in a statement.

Airbus to scrap production of A380 superjumbo

Airbus said in a statement that the last A380 would be delivered in 2021.

2. World News

Shell buys German solar battery maker sonnen

Royal Dutch Shell has agreed to buy German residential solar battery maker sonnen, as the oil and gas major expands its electricity business in its bid for a bigger role in the global transition to low-carbon energy.

Alibaba takes 8 percent stake in Chinese video platform Bilibili: Xinhua

Alibaba Group Holding Ltd has bought an 8 percent stake in Chinese video platform Bilibili Inc, the official Xinhua news agency reported on Thursday.

Russia’s VTB buys 80 percent of Magnit’s pension fund

Russia’s second-largest lender VTB Bank said on Thursday it had purchased an 80.01 percent stake in the pension fund of Russian food retailer Magnit.

IHG buys Six Senses Hotels business for $300 million

InterContinental Hotels Group has agreed to buy the brands and operating companies of Six Senses Hotels Resorts Spas for $300 million in cash, the owner of the Crowne-Plaza and Holiday Inn chains said on Wednesday, in a move that beefs up its luxury portfolio.

Japan Exchange Group, TOCOM to merge this year: sources

Japan Exchange Group Inc (JPX), owner of Tokyo Stock Exchange, and the Tokyo Commodity Exchange Inc have decided to merge, two sources with direct knowledge of the talks said, as Japan pushes to create an all-in-one bourse.

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