Ambalal Sarabhai Enterprises, AU Small Finance Bank and Tube Investments to see some action today

CoSara Diagnostics, a Joint Venture (JV) of a subsidiary of Ambalal Sarabhai Enterprises and Co-Diagnostics, Inc, Salt Lake City, Utah, USA recently got permission to manufacture COVID-19 test with two target genes (RdRP & E) from CDSCO. Like one gene test, this test is also highly specific and sensitive with fast and accurate diagnosis of COVID-19 infection with precise accuracy. This is one more step towards commitment of providing diagnostic kits helpful in early diagnosis, evaluation and management of treatment.

AU Small Finance Bank has made strategic investment of Rs 7.70 crore in National Payments Corporation of India (NPCI), wherein 61,320 Equity Shares at Book value of Rs 1,256 per Equity Share are allocated to the Bank constituting around 0.44% shareholding of NPCI.

Tube Investments of India (TIL) has acquired a controlling stake in CG Power and Industrial Solutions and now holds 50.62 percent of the company's paid-up share capital. CG Power has received Rs 587.50 crore from the TIL.

Mahindra & Mahindra’s (M&M) wholly owned subsidiary--Mahindra Holdings (MHL) has agreed to sell its entire stake aggregating 100% of the paid-up Equity Share Capital in Mahindra First Choice Services (MFCS) and its entire stake aggregating 100% of Optionally Convertible Redeemable Preference Shares in Auto Digitech (ADPL), wholly owned subsidiary of MFCS, to TVS Automobile Solutions (TASL).

Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has added maximum number of telephone subscribers (90.95 million net addition) during the year 2019. As per trai report, all service providers have registered decline in their subscriber base except Reliance Jio Infocomm and BSNL during the year 2019.

SpiceJet has commenced its dedicated freighter services to Leh with the launch of its maiden flight to the largest town of Ladakh from Delhi, carrying 13 tonnes of cargo supplies. The launch of the dedicated freighter services to Leh, the first by any domestic airlines, will boost connectivity to the area. It will also address the challenges of surface transportation, owing to bad weather conditions in the winters.

Ramkrishna Forgings has started commercial production of Hollow Spindle Line on November 26, 2020. This will enhance the production capacity of the company by 10200 tons per annum.