Wipro, Rail Vikas Nigam and Arihant Superstructures to see some action today

Wipro has extended its work with Marelli, a global leader in automotive solutions, for an additional four years. As part of this engagement, Wipro FullStride Cloud will migrate Marelli’s Milan Data Centre and all their local server rooms to the Cloud to centralize their operations and provide a more agile and stable ecosystem. This transition to a more flexible and advanced cloud environment will empower Marelli to respond quickly to market changes, enable continuous innovation across their business, and strengthen their competitive edge.

Rail Vikas Nigam (RVNL) has received Letter of Acceptance (LoA) from South Central Railway for Engineering, Procurement and Construction (EPC) contract Agreement for Doubling of Track between Parbhani to Parli stations (58.06Kms) (excluding Gangakhed yard from km 292.075 to km 298.85 = 6.775 Km) including Electrification & Signaling works in connection with Parbhani-Parli doubling project of South Central Railway in the state of Maharashtra. The project cost is Rs 625.08 crore. The order is to be executed within 30 months. 

Arihant Superstructures (ASL) has raised Rs 25 crore through the allotment of Secured, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) to Indian Real Estate Investment Fund having face value of Rs 100 each on Private Placement Basis. The meeting of Fund Raising Committee of the Company held on November 26, 2024, has inter alia approved allotment of the same. 

India Glycols has incorporated ‘IGL Spirits’ as its wholly owned subsidiary company. It is contemplated that the company will carry on business of Spirits and related products. 

Lumax Auto Technologies has completed the acquisition of majority shareholding (representing 60% of share capital on a fully diluted basis) in Greenfuel Energy Solutions through its wholly owned subsidiary namely Lumax Resources. The consideration paid to the shareholders of Greenfuel, after customary closing review and adjustments as per the Share Purchase Agreement, is Rs 153.09 crore. Accordingly, Greenfuel has become a step-down subsidiary of the company and subsidiary of Lumax Resources with immediate effect. 

Life Insurance Corporation of India (LIC) has increased its shareholding in equity shares of Patanjali Foods. The corporation has increased its shareholding in equity shares of Patanjali Foods from 1,80,48,377 to 1,81,73,377 i.e., 4.986% to 5.020% of the paid-up capital of the said company.

Angel One’s subsidiary Angel One Asset Management Company has received markets regulator Sebi's approval to begin the mutual fund operations. With this approval, Angel One marks its foray into the asset management space, focusing exclusively on passive investment solutions.