ITC, Rail Vikas Nigam and Glenmark Pharmaceuticals to see some action today

ITC will acquire 100 per cent of Sproutlife Foods, makers of Yoga Bar healthy foods. The company has signed a binding term sheet to acquire 100 per cent of the share capital (on a fully diluted basis) of Sproutlife in tranches, expected to be completed over a period of 3 to 4 years.

Rail Vikas Nigam (RVNL) has emerged as the Lowest Bidder (L1) for the following work - Supply, Erection, Testing and Commissioning of Power Supply Receiving & Distribution System, 750 V DC Third Rail Traction Electrification and Scada System for Surat Metro Rail Project Phase-I. (Cost Rs. 673.8 crore). Supply, Erection, Testing and Commissioning of Power Supply Receiving & Distribution System, 750 V DC Third Rail Traction Electrification and Scada System for Ahmedabad Metro Rail Project Phase-II. (Cost Rs. 384.3 crore). In above referred tenders, RVNL had participated in consortium with SIEMENS India. Siemens is the lead partner with 65% share and RVNL is having 35% share.

Glenmark Pharmaceuticals has entered into an agreement with Eris Oaknet Healthcare, a wholly owned subsidiary of Eris Lifesciences to divest the Tail Brands from its dermatology segment, for India and Nepal territories, for a consideration amount of Rs 340.48 crore. The divested Tail Brands include Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands.

E.I.D Parry has commenced commercial operations at the new 120 KLPD distillery of the Company situated at sugar unit at Sankili, Andhra Pradesh, (which has the flexibility to operate with multiple feedstocks .i.e., molasses/cane juice & syrup/grain based) with effect from January 17, 2023.

Reliance Industries’ subsidiary -- Reliance Jio Infocomm has launched True 5G services across 16 cities namely Kakinada, Kurnool (Andhra Pradesh), Silchar (Assam), Davanagere, Shivamogga, Bidar, Hospet, Gadag-Betageri (Karnataka), Malappuram, Palakkad, Kottayam, Kannur (Kerala), Tiruppur (Tamil Nadu), Nizamabad, Khammam (Telangana), and Bareilly (Uttar Pradesh).

Tinna Rubber and Infrastructure has entered into Shareholder Agreement to acquire 99% stake in Global Recycler, Sole Proprietorship Company Incorporated in Muscat, Sultanate of Oman and which will subsequently convert to Limited Liability Company in due course of time. This will be an investment by the Company in Global Recycle LLC and the main object of Global Recycle LLC is in line with company's business.

Metro Brands has reported results for third quarter ended December 31, 2022 (Q3FY23). The company has reported rise of 14.46% in its net profit at Rs 114.63 crore for Q3FY23 as compared to Rs 100.15 crore for the corresponding quarter previous year. Total income of the company increased by 21.35% to Rs 592.17 crore for the quarter as compared to Rs 487.98 crore for the same quarter in the previous year. On the consolidated basis, the company has reported rise of 11.20% in its net profit at Rs 112.99 crore for Q3FY23 as compared to Rs 101.61 crore for the same quarter in the previous year. Total income of the company increased by 23.71% to Rs 613.34 crore for the quarter under review as compared to Rs 495.78 crore for the same quarter in the previous year.