Reliance Jio launches ‘JioBusiness’ to digitally transform MSMEs

Reliance Jio has launched an integrated technology solution- JioBusiness to transform around 5 crore micro, small, and medium enterprises (MSMEs) in India. The company will provide enterprise-grade fiber connectivity that offers voice and data services. It will also provide digital solutions that help enterprises manage and grow their businesses. JioBusiness will offer devices to enable leading digital solutions for MSMEs. 

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Vehicle registrations fell 13.43% YoY in February: FADA

As per data released by the Federation of Automobile Dealers Associations (FADA), overall vehicle registrations declined by 13.43% year-on-year (YoY) to around 14.99 lakh in February 2021. The figure stood at over 17.31 lakh units in the corresponding period last year (Feb 2020). However, the data shows that registration of passenger vehicles grew by 10.59% YoY to 2.54 lakh units last month. 

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Puravankara to invest Rs 450 crore to develop residential project in Mumbai

Puravankara Limited will invest Rs 450 crore to develop a mixed-use residential project in Chembur, Mumbai. The project, named ‘Purva Clermont’, will come under the developer’s luxury portfolio World Home Collection. The project will be built on a 2.25-acre land parcel and will have five towers— four residential buildings with 233 units and one commercial office building. Construction of the project will begin in 3 months and is expected to be completed by 2025.

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L&T delivers 700 MW steam generator ahead of schedule

Larsen & Toubro (L&T) has despatched the first out of four 700 MWe (megawatt electrical) steam generators for the Gorakhpur Haryana Anu Vidyut Pariyojana (GHAVP) ahead of schedule. With this, the company has created a new global benchmark in the nuclear manufacturing industry. The hi-tech equipment was manufactured at L&T’s manufacturing facilities at Hazira and Vadodara Heavy Engineering Works (VHEW).

[GHAVP is a proposed 2,800 MW nuclear power plant that is being built on a 560-hectare area near Gorakhpur village in Haryana]

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JMC Projects signs agreement with FDC to construct 2,000 social housing units in Maldives

JMC Projects (India) Limited has signed an agreement with Fahi Dhiriulhun Corporation Ltd (FDC) for the design, finance, and construction of 2,000 social housing units in Hulhumale Island of Maldives. FDC is a state-owned company of the Government of Maldives. The total value for the project is estimated to be around $137 million (~Rs 1,000 crore). Mumbai-based JMC Projects is a leading construction company. It is also a subsidiary of Kalpataru Power Transmission Limited. 

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Inox Wind signs pact for 92 MW-projects with Integrum Energy

Inox Wind Limited has signed an agreement with Integrum Energy Infrastructure to supply, erect, and commission 92 megawatts (MW) of wind power projects. The projects comprise 2 MW turbines with a combination of total turnkey and limited scope supply services. The company will supply and commission wind turbines at Gujarat, Karnataka, Maharashtra, and Tamil Nadu by the third quarter of the next financial year (FY 2021-22). 

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Aurionpro Solutions enters into partnership with UK-based Future-Tech

Aurionpro Solutions Ltd has entered into a strategic partnership with UK-based Future-Tech for data center design and consultancy projects in India & South Asia. In recent years, the company has ventured into data centre building, consulting, and hybrid cloud services. Aurionpro will provide consultancy and assistance for rolling out 100 MW data centres for one of its customers within the next few years. Mumbai-based Aurionpro Solutions is an IT services company. It is also engaged in the sale of equipment and software licenses.

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Easy Trip Planners IPO subscribed 7.20 times on second day of bidding

The Rs 510-crore initial public offering (IPO) of Easy Trip Planners was subscribed 7.20 times on the second day of bidding. The issue received bids for 10.85 crore equity shares against an offer size of 1.5 crore shares. The portion reserved for retail investors was subscribed 32.71 times. The portion set aside for non-institutional investors (NIIs) saw a subscription of 4.05 times and that of qualified institutional buyers (QIBs) 28%.

To know more about the IPO, click here.

Praj Industries secures order from HPCL for setting up biogas plant

Praj Industries has received an order from Hindustan Petroleum Corporation Ltd (HPCL) for setting up a compressed biogas (CBG) plant at Badaun, Uttar Pradesh. The company will offer its RenGas technology to produce CBG from rice straw. The project will have the capacity to process 35,000 metric tonnes (MT) of rice straw as feedstock to generate 5,250 MT of CBG annually. Praj Industries stated that this project will be completed and commissioned within 12 months.

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Indoco Remedies launches Brinzolamide Ophthalmic Suspension in the US

Indoco Remedies Limited has announced the launch of Brinzolamide Ophthalmic Suspension in the United States. The product is developed and manufactured by Indoco Remedies for TEVA Pharmaceuticals at its facility in Goa. It is used to treat high pressure inside the eye due to ocular hypertension and open-angle glaucoma. As per IQVIA data, the US market size of this product stood at $184 million (~Rs 1,343 crore) as of December 2020.

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Jubilant Foodworks completes acquisition of 100% stake in Fides Food

Jubilant Foodworks announced that its wholly owned subsidiary, Jubilant Foodworks Netherlands B.V., has successfully completed the acquisition of 100% stake of Fides Food Systems Coöperatief U.A. Fides Food is the beneficial owner of 32.81% equity shares in DP Eurasia, which is the master franchisee of Domino’s Pizza in four countries— Turkey, Azerbaijan, Russia, and Georgia. The total value of the acquisiton was nearly Rs 252 crore.

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