Wipro, Tata Motors and Sun Pharmaceutical Industries to see some action today

Wipro has entered into five-year strategic engagement with Scania, a world leading provider of transport solutions. The company will deliver streamlined support with increased automation and enhanced user experience through personalized services underpinned by real-time analytics to create a future-ready workplace for all Scania employees. This journey will be powered using Wipro’s Live Workspace solution for managed services. For Scania, this represents a major step towards digitalization of its services while leveraging the unique capabilities of Wipro’s global ecosystem.

Tata Motors is expecting its capex to increase to up to Rs 6,000 crore in the ongoing fiscal to support various programmes across its commercial, passenger and electric vehicles verticals.  While the company has committed investments for its businesses to get well funded and the transition to the electrification roadmap, it has identified inflation and semiconductors shortage as the two big worries, while also being cautious about rising interest rates and continued inflation having an impact on demand going forward.

Sun Pharmaceutical Industries has received final approval from USFDA for its Abbreviated New Drug Application (ANDA) for generic Mesalamine Extended Release Capsules, 500 mg. The generic product approval is based on Pentasa Extended Release Capsules, 500mg as a reference product. Pentasa Extended Release Capsules, 500mg had annualized sales of approximately $213 million in USA. 

Gravita India’s step down subsidiary -- Recyclers Ghana has started commercial production and recycling of waste rubber with an annual capacity of around 6,000 MTPA. The Company has incurred capital expenditure of Rs 3.80 crore for setting up of the facility which has been funded through internal accruals.

NTPC has invited bids for raising term-loan of up to Rs 5,000 crore. Proceeds of the loan shall be utilised towards capital expenditure for ongoing/new capacity addition programme, including the takeover of projects, renewable energy projects, coal mining & washeries, renovation & modernisation program of various projects, refinancing of loans and general corporate purposes etc. The minimum amount of loan offered by banks or financial institutions will be Rs 500 crore and in multiples of Rs 500 crore. The bids will be opened on May 27, 2022.

In line with the National Hydrogen Mission, GAIL (India) has awarded a contract to set up one of the largest Proton Exchange Membrane (PEM) Electrolyser in India. The project would be installed at GAIL’s Vijaipur Complex, in Guna District of Madhya Pradesh, and would be based on renewable power.

Bangalore International Airport (BIAL) has partnered with Kotak Mahindra Bank and digital payment firm -- Phi Commerce to facilitate a one-stop omnichannel payment solution at Kempegowda International Airport. Designed specifically for the airport, the solution will enable a secure, scalable, and unified payment experience. It will power B2B and B2C payments across channels - both online and offline. The new payment experience will bring all online, in-store, and cash transactions taking place across the airport ecosystem into one single platform. Kotak's partnership with BIAL will open a world of financial opportunities to clients working in the BIAL ecosystem.