LTIMindtree, Responsive Industries and Grasim Industries to see some action today

LTIMindtree has entered into a strategic collaboration with CAST AI, a leading SaaS company that specializes in automated cost optimization for customers who run their cloud-native applications on Google Cloud, AWS, and Microsoft Azure. The partnership will help companies save, on average, over 60 percent on cloud costs as they modernize legacy applications for cloud migration.

Responsive Industries has secured orders from Indian Railways for the ‘Vande Bharat’ Project.  Since the project’s design and inception, Responsive Industries has been in close collaboration with the Integral Coach Factory (ICF) and the broader Indian Railways community, emphasizing the delivery of premier quality solutions. This ensures that the Vande Bharat trains stand as benchmarks in modern rail transport.  

Grasim Industries is aiming to become the second largest player in the paints sector which it considers a high-potential growth engine along with its new B2B e-commerce business for construction materials. The firm is now shifting focus to the new businesses and has embarked on a transformational growth phase with the incubation of two new high-potential growth engines - Paints and B2B e-commerce for building materials. Grasim last year doubled its planned investment to Rs 10,000 crore in setting up the paints business.

REC has entered into a pact with Damodar Valley Corporation (DVC), under which REC will provide a loan of Rs 4,527.68 crore to DVC for setting up a 1,320 MW thermal power project (2x660 MW) at Raghunathpur in West Bengal. The Raghunathpur Thermal Power Station Phase-II project, a collaborative effort between REC and DVC, will contribute significantly to the power generation capacity in West Bengal. With a combined capacity of 1,320 MW, the project marks a key milestone in the energy landscape of the region.

Flexituff Ventures International has executed Business Transfer agreement (BTA) with Flexituff Technology International, Subsidiary Company (Buyer) on August 28, 2023 for sale of Flexible Intermediate Bulk Container (FIBC) business of Pithampur unit of the Company. Earlier, the company had received the Board’s approval for said transaction.  

Rane (Madras) -- board of directors has now approved divestment by way of stock sale of entire holdings in M/s Rane Light Metal Casting Inc., USA (LMCA) held through its wholly owned subsidiary viz., Rane (Madras) International Holdings B.V., The Netherlands (RMIH). The board of directors have authorized the Investment Committee to finalize the terms and conditions including the consideration, parties etc., in connection with the proposed divestment. The Board at its meeting held on August 28, 2023 has now approved the same. 

Gokaldas Exports (GEL) through its wholly owned subsidiaries has entered into an agreement to acquire Atraco Group (Atraco), a leading manufacturer of apparel with a strong market position and customer relationships across U.S. and Europe. Their product range includes shorts, pants, shirts, t-shirts, blouses and dresses catering across age groups.