Federal Bank, KPI Global Infrastructure and Deep Industries to see some action today

Federal Bank has signed a Memorandum of Understanding (MoU), with Schwing Stetter (India), a Subsidiary of Schwing GMBH, Germany, one of the largest manufacturers of Concrete and Construction equipment in India. This MoU will enable both Federal Bank and Schwing Stetter to offer customised financial solutions to their customers. The Bank will work towards catering to the customers' needs through Commercial Equipment loans with easy monthly repayment plans best suited for the customers. Moreover, the bank will leverage technology for enhancing customer experience.

KPI Global Infrastructure has bagged an order from Colourtex Industries, Surat under 'Captive Power Producer (CPP)' segment of the company. The said order is for executing solar power project of 10 MWdc capacity.

Deep Industries has received Letter of Award (LoA) from GSPC LNG (GLL) for hiring of Gas Compression Services (MSO Package) at GSPC LNG Terminal, Mundra, Gujarat, India for a period of 5 years which was received by the company on December 29,2021 and the total estimated value of the said Award is approximate Rs 44.40 crore .

MAS Financial Services has raised Rs 50 crore through the allotment of 500 unlisted, subordinated, unsecured, redeemable, non-convertible debentures (NCDs), having a face value of Rs 10 lakh each on private placement basis. The Finance Committee of the Board of Directors of the Company at their meeting held on December 29, 2021 has approved and allotted the same.

Bajaj Finance’s fully owned subsidiary – Bajaj Housing Finance has launched new festive deal offering for customers, who have high credit scores, home loans starting as low as 6.65 per cent. The housing finance company (HFC) allows eligible homebuyers to opt to link their home loan rates to the RBI's repo rate. It will benefit them from possible rate reduction by the Reserve Bank of India (RBI).

Lambodhara Textiles has proposed for installation of 3.1 MW DC & 2.4 MW AC Ground Mounted On-Grid Solar Power Plant at Manaparai, Trichy District at an estimated cost of Rs. 14.90 crore for the purpose of captive consumption, which would help the Company to reduce its dependence on non-renewable sources of energy. As a result, 90% of energy consumption of the Company will be green power.

Rane Holdings has received approval from board of directors to divest 87,383 equity shares representing 1% of the total shareholding of Rane TRW Steering Systems (RTSS/JV) to ZF Automotive JV LLC, USA (ZF). Currently, RTSS is a 50:50 joint venture between the Company and ZF. Pursuant to this divestment, the Company will hold 49% and ZF will hold the remaining 51% shareholding in the JV.