L&T Finance has announced its foray into the gold loan business by acquiring Paul Merchants Finance Pvt. Ltd.’s (PMFL) gold loan business undertaking in an all-cash deal worth Rs 537 crore. The acquisition will add to LTF’s portfolio of secured loan products and include a network of branches in markets like Chandigarh, Punjab, Haryana, Delhi, Rajasthan, Gujarat, Madhya Pradesh, and Uttarakhand, along with 700 employees and 130 branches.
Religare Enterprises (REL) saw 97.53% of its shareholders reject the reappointment of Rashmi Saluja as a director during the annual general meeting. The meeting was initially scheduled for September but rescheduled to February 7 due to legal and regulatory issues.
VA Tech Wabag secured a consortium order valued at $371 million for an Independent Sewage Treatment Plant in Saudi Arabia. Tejas Networks signed a Technology Collaboration Agreement with NEC Corporation to develop advanced wireless technologies for the telecom industry.
SEBI ordered the attachment of bank accounts and assets of 10 individuals to recover ₹1.25 crore in connection with Eros International Media Ltd. Western Carriers (India) Ltd bagged a ₹1,089-crore contract from Vedanta Ltd for transportation services, while Thomas Cook (India) signed a strategic partnership with the Moscow Project Office for Tourism and Hospitality Development.
Waaree Energies commenced commercial production at its 1.4 GW Monocrystalline PERC solar cell production line in Gujarat. Bharat Heavy Electricals Ltd secured an ₹8,000 crore order from Maharashtra State Power Generation Company Ltd for a 1320 MW BTG package for Koradi Thermal Power Station.
DLF’s joint venture firm DCCDL reported a 10% increase in rental income to ₹1,194 crore in the third quarter. Cube Highways Trust signed an agreement with NIIF for the acquisition of two road assets at an enterprise value of ₹4,184.7 crore.
Ircon International Ltd received a ₹194.45-crore Letter of Acceptance from the Central Railway for the survey, design, and installation of towers. Bharat Electronics Ltd signed a ₹610-crore contract for the supply of Electro Optic Fire Control System for the Indian Navy.
Zaggle Prepaid Ocean Services Ltd approved the acquisition of a 16.67% stake in Mobileware Technologies Pvt Ltd. The equity shares will be acquired at a mutually agreed valuation.
