ITC, Vascon Engineers and HCL Technologies to see some action today

ITC has raised its holding to 27.34 per cent in Delectable Technologies, a company that operates the Azgo app and vending machines selling snacks and other fast-moving consumer goods. The company has acquired on December 20, in the third tranche, 1,964 Compulsorily Convertible Preference Shares of Rs 10 each of Delectable Technologies.

Vascon Engineers has received Letter of Award amounting to approximately Rs 199 crore from Vedanta for construction of Cairn Oil & Gas Residential Complex at Barmer, Rajasthan. The work has been awarded on Design and Build basis. The work has to be completed within 18 months from the date of receipt of this letter of award.

HCL Technologies (HCL) has signed a five-year agreement with CEMEX, a global construction materials company, to deliver the next generation of employee services enabled by digital transformation, increased automation and near real-time analytics as part of the CEMEX Working Smarter Program.

Central Bank of India has entered into a strategic Co-lending Partnership with Ugro Capital, to offer loans to MSME borrowers under priority sector, subject to the compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in this co-lending arrangement will result in greater expansion of portfolio by Central Bank of India & Ugro Capital.

The Board of Directors of YES Bank in its meeting held on December 21, 2021, has considered and approved raising of funds by issue of equity shares / depository receipts / convertible bonds / debentures / warrants / any other equity linked securities, through permissible modes, subject to necessary approvals from shareholders / regulators, as applicable for amount up to INR 10,000 Crore.

IRB Infrastructure Developers’ wholly-owned subsidiary -- Chittoor Thachur Highway has now executed Concession agreement with National Highways Authority of India (NHAI) for the project of Development of Six Laning of Chittoor-Thachur road from km. 96.040 (Pondavakkam) to km. 116.100 (Kannigaipair) on Hybrid Annuity mode under Bharatmala Pariyojana, in the state of Tamil Nadu (Package-IV). NHAI bid project cost was Rs 652.49 crore. The company’s bid project cost was Rs 909.00 crore. Further, company's Bid Price (NPV of Company's Bid Project Cost & O&M Cost over the Concession Period) is Rs 844.14 crore. The construction period is 730 days and Operation Period is 15 years commencing from COD.

CSB Bank has been empanelled as an 'agency bank' by the Reserve Bank of India (RBI) to undertake general banking business of central and state governments which may be entrusted by the RBI. As an agency bank of the RBI, CSB Bank is now authorised to enter into an agreement with different state governments and central government departments for businesses such as tax collections, pension payment, collection of stamp duty, etc.