KEC International, eClerx Services and Jindal Steel & power to see some action today

KEC International has secured new orders of Rs 1,438 crore across its various businesses. The company’s Railways business has secured orders of Rs 475 crore in the urban infra/ emerging segments in India. The Civil business has secured orders of Rs 383 crore for infra works from reputed private players in the Chemical, Cement & Residential segments and a Government order in the Water Pipeline segment in India.

eClerx Services’ Wholly Owned Subsidiary -- eClerx LLC, USA has entered in to a Share/Membership Interest Purchase agreement to acquire 100% stake in Eclipse Global Holdings LLC (dba Personiv) (Personiv), a Delaware Company headquartered in Austin, Texas, USA. The objects of said acquisition are to leverage synergies in Digital and Customer Experience services, leverage client relationships and Business expansion. This transaction is expected to close by December 29, 2020.

Jindal Steel & power (JSPL) has reported robust growth in steel production. The company witnessed year on year growth of 15% in standalone steel production with 6,14,000 tonnes in November 2020 as compared to 533,000 tonnes of standalone steel production a year ago during the same period. Company’s standalone sale also rises with 562,000 tonnes in November 2020 as compared to standalone sales of 557,000 tonnes in the previous year during the same period.

Zuari Global has acquired 100% shares of Zuari Insurance Brokers from Zuari Finserv (ZFL), Wholly owned subsidiary of the company. ZIBL is in the business of distribution of mutual fund products, Insurance Broking, research activities in the Insurance Sector. Acquisition of ZIBL has been made according to the Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018. The said transaction has been done at ‘arm length’.

Yes Bank is looking to build a brand around its credit card business and aiming to double its customer base in the segment in the next two years. Also, the bank is targeting a four-fold rise in its book value over the next two years. According to RBI data, the bank’s outstanding credit card at the end of September 2020 stood at 8,16,208, with value of transactions standing at Rs 490.76 crore.

Innovators Facade Systems has received the work order of around Rs 40 crore for Design, Supply, Fabrication and Installation of Façade Work in Mumbai from Glider Buildcon Realtors.

Astral Poly Technik has started commercial production of plastic water storage tanks under Astral's name from December 12, 2020 at manufacturing facility situated at Village: Pangra, Taluka: Paithan, District: Aurangabad.