Coforge has recently clinched a 13-year partnership deal worth around $1.56 billion with Sabre Corporation, a prominent travel technology firm based in the US. The new agreement aims to enhance the partnership between the two companies and will help Sabre bolster its product roadmap, enabling faster product delivery and the introduction of new AI-enabled solutions.
Adani Wilmar has finalized a definitive agreement to acquire GD Foods Manufacturing (India) Private Ltd. The acquisition will be carried out in multiple stages, with 80% of the shares to be acquired in the initial tranche, and the remaining 20% over the next three years. GD Foods recorded a revenue of ₹386 crore in FY’24, with a 3-year CAGR of 15% and an EBITDA of ₹32 crore.
The Competition Commission of India has approved Ambuja Cements’ proposal to acquire a majority stake in Orient Cement Ltd, a CK Birla group company, for Rs 8,100 crore. Ambuja Cements, a part of the Adani Group, operates 22 integrated cement plants, along with 10 bulk cement terminals and 21 grinding units across India.
Power Grid Corporation of India has secured three projects related to the establishment of inter-state power transmission systems. The projects have been awarded to Power Grid under tariff-based competitive bidding for setting up the transmission systems under the Build, Own Operate and Transfer (BOOT) mode.
PB Fintech chairperson and CEO Yashish Dahiya has settled a case with SEBI regarding alleged violation of insider trading rules by paying Rs 9.42 lakh. The case involved the acquisition of shares of YKNP Marketing Management by PB Fintech Ltd, leading to accusations of insider trading.
Mindteck (India) Ltd has announced the resignation of Anand Balakrishnan as Managing Director and Chief Executive Officer, effective May 31, 2025. Balakrishnan will continue in his role for the next three months to ensure a smooth transition.
The Competition Commission of India has cleared the proposal of Adani Infra, a unit of Adani Enterprises, to acquire a significant stake in PSP Projects Ltd, enhancing Adani Group’s presence in the construction sector. PSP Projects, known for its portfolio including the Surat Diamond Bourse, had an order book worth Rs 6,546 crore as of September 2024.
JSW Energy has received approval from the Competition Commission of India (CCI) for its acquisition of KSK Mahanadi Power Company Limited (KMPCL), valued at nearly ₹16,000 crore. The approval follows the National Company Law Tribunal (NCLT) approving JSW Energy’s resolution plan.
GE Vernova T&D India Ltd has secured orders worth Rs 500 crore to supply and install transformers and reactors from Power Grid Corporation. The orders are to be completed within 36 months.
Intermetal Engineers (India) Private Limited, a subsidiary of India Ltd, has signed a share purchase agreement to acquire a 100% stake in Ashwath Technologies Private Limited. The acquisition marks a strategic move for Intermetal Engineers to strengthen its position in the market.
ABB Motion has made a strategic investment through ABB Motion Ventures in the AI startup UptimeAI to revolutionize the management of motors, drives, and related assets for industrial customers. The investment includes ABB taking a minority stake in UptimeAI.
Biocon Pharma Ltd, a subsidiary of Biocon, has received final approvals from the US FDA for its Lenalidomide capsules in various strengths, used to treat multiple myeloma, lymphoma, and myelodysplastic syndromes.
Ola Electric has received a notice from IFCI Ltd for failing to meet its first milestone under the Production Linked Incentive Advanced Chemistry Cell scheme. The company is addressing the non-achievement of targets and working on filing an appropriate response.
Grasim Industries has commenced commercial production at its Birla Opus Paints plant in Mahad, Maharashtra, with a total installed capacity of 230 million litres per annum. With the start of commercial production, Grasim now has 5 out of its 6 green-field plants operational, with a total installed capacity of decorative paints under the brand “Birla Opus” at 1,096 Million Litres Per Annum (MLP).
Walchandnagar Industries Ltd has announced a deal to acquire a majority stake in AiCitta Intelligent Technology Private Ltd, a company engaged in the development and manufacture of Unmanned Ground Vehicles (UGVs). The acquisition will see WIL acquiring a ~60.3% stake in AiCitta, eventually making it a wholly-owned subsidiary.
With this deal, Walchandnagar Industries is set to tap into the next-generation defence technologies through the expertise of AiCitta, offering new growth opportunities for the company.
Published on March 5, 2025.
