Ambuja Cements, Suven Pharmaceuticals and RITES to see some action today

Ambuja Cements’ board approved the acquisition of 100% stake in Penna Cement Industries (PCIL) by way of entering into binding agreement. The acquisition is in line with the company’s strategy to increase its footprint in the cement manufacturing market. The Board of Directors of the company at its meeting held on June 13, 2024 has approved the same. 

Suven Pharmaceuticals has executed definitive agreements on June 13, 2024, for acquiring 100% of equity shares (on a fully diluted basis) in Sapala Organics. Sapala Organics is a Hyderabad based CDMO focused on Oligo drugs and nucleic acid building blocks including Phosphoramidites & Nucleosides, drug delivery compounds (including GalNAc), Pseudouridine, amongst others.  The company has agreed to initially acquire 67.5% by way of secondary transfer from Sapala Organics’ existing shareholders. This represents 51% of the share capital of Sapala Organics on a fully diluted basis. After financial year 2026-27, the company will acquire the balance shareholding through secondary purchase, such that, post consummation, the company will own 100% of the share capital of Sapala Organics on a fully diluted basis.  

RITES has signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC) for collaboration in comprehensive operations and management projects of Metro Railway Systems, including Rolling Stock, Depot Management, Station Management, maintenance of Railway Infrastructure, etc. in India and abroad.

Havells India is planning to expand its existing manufacturing capacities of Air Conditioners at Ghiloth and Sricity locations to 15 lakh units per annum at each location, from the existing 9 lakh and 11.2 lakh units, respectively, in order to cater to the increased demand. The Total proposed investment for the above capacity enhancements will be in the range of Rs 50-60 crore. The same will be funded through internal accruals and the expected date of completion is Q4 FY 2025. 

Wipro has entered into a strategic collaboration with Hewlett Packard Enterprise (HPE) to launch a GenAI solution within the new Customer Experience Center (CEC) at the Wipro Cloud Studio’s Kodathi office to serve customers globally. The solution will leverage Wipro's Smart Operations platform and HPE Machine Learning Development Environment to enhance operational efficiency and customer experience.

Zee Media Corporation has received approval for Incorporation of a Wholly Owned Subsidiary (WOS) of the Company. The WOS will engage in business of bringing forth ancient knowledge of scriptures intersecting with modern science, focusing on spirituality, mindfulness and wellbeing through launch of appropriate digital and alternative media properties in the infotainment space. The Board of Directors of the Company at its meeting held on June 13, 2024, inter alia, have considered and approved the same.  

DCX Systems has received contracts/orders for Rs 32.20 crore from Domestic and Overseas Customers. The company has bagged orders for supply of cable & wire harness assemblies. The said orders are to be executed within 12 months.