Agro Tech Foods, the owner of popular brands like ACT II popcorn and Sundrop, has successfully completed the acquisition of Del Monte Foods from Bharti Enterprises through a share-swap deal. The exact value of the deal remains undisclosed. This acquisition solidifies Agro Tech Foods Ltd’s (ATFL) presence in India’s food and FMCG sector, according to a statement released by the company.
In another major development, ITC has announced the acquisition of ‘Prasuma’ and ‘Meatigo’ brands as part of its expansion into the frozen, chilled, and ready-to-cook foods segment. The company has signed definitive agreements to acquire Prasuma, a key player in the frozen food space in India, over a period of three years.
Mahindra Logistics Limited (MLL) has collaborated with Asian Paints to improve supply chain efficiency by deploying an integrated line haul transportation network for the paint manufacturer for short distances.
In other news, Malaysia’s IHH Healthcare Berhad, through its Singaporean arm Northern TK Venture Pte Ltd, has increased its claim for damages from Daiichi Sankyo to up to JPY 199.8 billion in an ongoing litigation in Tokyo. This lawsuit is related to the obstruction of NTK’s completion of a tender offer for shares in Fortis Healthcare Ltd and Fortis Malar Hospitals Ltd.
NTPC Green Energy has formed a joint venture named AP NGEL Harit Amrit with the New and Renewable Energy Development Corporation of Andhra Pradesh to develop renewable energy projects, green hydrogen, and related derivatives.
The board of Aurobindo Pharma has approved the acquisition of an 80% stake in Tergene Biotech Ltd, a subsidiary of the company.
Meson Valves India has secured its first order from the US worth Rs 31.61 crore for critical valves in industries such as oil & gas, chemical/petrochemical, and power, with a three-year supply contract.
The Ministry of Defence has signed contracts with Economic Explosive Limited (EEL) for the procurement of Area Denial Munition (ADM) Type-1 and High Explosive Pre Fragmented (HEPF) Mk-1 rockets for the PINAKA Multiple Launcher Rocket System.
HG Infra-DEC Infrastructure consortium has emerged as the L-1 bidder by Rail Land Development Authority (RLDA) for the development of the New Delhi railway station.
Sobha has received an order from the Central GST department, including tax and penalties, and has stated that it will appeal against the order.
Petronet LNG has signed a 15-year Sale & Purchase Agreement with Deepak Phenolics for propylene and hydrogen from its Dahej petrochemical complex.
BSE has reported a doubling of its net profit to Rs 220 crore for the three months ended December 2024.
Zomato has announced a name change to Eternal, subject to approval from shareholders and regulatory authorities, while the brand name for its food delivery business Zomato will remain unchanged.
Tata Power has restored the operations of unit 5 at its Trombay Thermal Power Station in Mumbai, which was affected by a fire incident in September 2024.
Dr Reddy’s Laboratories has entered into a license agreement with Shanghai Henlius Biotech, Inc for the development and commercialization of an under-development cancer drug.
These are some key developments in the business and corporate world that have taken place recently.
