Tata Steel, Allcargo Logistics and Axis Bank to see some action today

Tata Steel is planning to acquire ferro alloys producing assets of Odisha-based Stork Ferro and Mineral Industries for Rs 155 crore in an all-cash deal. The acquisition will be completed within two months from the date of execution of the asset transfer agreement.

Allcargo Logistics has executed Business Transfer Agreement with J M Baxi Heavy for Sale of Project Logistics Business division of the Company, as a going concern on a slump sale basis. The consideration mentioned in Business Transfer Agreement is Rs. 98.64 crore.

Axis Bank’s board has approved the acquisition of Citibank’s consumer businesses in India. The transaction comprises the sale of the consumer businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans. The deal also includes the sale of the consumer business of Citi’s non-banking financial company, Citicorp Finance (India), comprising the asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio.

Godrej Properties has acquired a 9 acres land parcel in the residential micro-market of Pimpri-Chinchwad in Pune. The development will primarily be for a group housing project. Pimpri-Chinchwad is one of the established residential locations in Pune and has excellent connectivity to all major social and commercial hubs of Pune city. 

Tata Consultancy Services (TCS) has successfully completed more than 150 digital transformation projects with its strategic partner Freshworks Inc., a software company empowering the people who power business. Since the partnership began two years ago, TCS and Freshworks have been making it quick and easy for businesses to delight their customers and employees.

Quess Corp has signed the First Addendum Agreement today with Stellarslog Technovation (Taskmo), Naveen Ramachandra and Prashant Janadri (Founders), under which the Company has agreed to make an additional investment of Rs. 3.84 crore. Taskmo is a leading platform that enables enterprises to outsource tasks to a distributed network of gig workers in India. It uses a proprietary algorithm for screening, training, deploying, and managing gig workers.

B L Kashyap and Sons has been awarded new projects worth Rs 461.32 crore. The company has received first project for Civil and structural work of Commercial space at Gurugram Haryana worth Rs 311.43 crores, the second project is for Main Civil Work & coordination scope of Services at Tumkur Road, Bangalore worth Rs 127.40 crore and the third project is for Civil Works at Elan Empire, Sec-66, Gurugram (Haryana) worth Rs 22.49 crore. The new projects is to carry out Civil and Structural work in cities Gurugram and Bangalore in the coming months.