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12-Feb2019

V2 Retail, KNR Constructions and TeamLease Services to see some action today

V2 Retail has launched one operational retail store at Subhash Chowk, Mouja Padrauna, District Kushinagar in the state of Uttar Pradesh. With this, the company currently has 77 Retail stores that are operational.

KNR Constructions has entered into share purchase agreement with Cube Highways and Infrastructure III Pte. for KNR Chidambaram Infra (hereinafter referred to as the SPV) Pursuant to which the Company will, in a phased manner, sell to the Cube Highways its entire shareholding in the SPV, subject to the shareholding transfer restrictions set out in the concession agreement executed between National Highway Authority of India and the SPV.

TeamLease Services and eCentric have entered into a definitive agreement vide which TeamLease, through its wholly owned subsidiary TL Digital acquires the IT staffing business of eCentric by way of business transfer / slump sale arrangement. The transaction will be immediately accretive to TeamLease's earnings per share and be financed with existing financial resources.

Universal Starch-Chem Allied's Board has considered the purchase of Plant and Machinery worth Rs 10.68 crore and Land and Building worth of Rs 6.50 crore during the quarter, through auction held by SVC-Co Operative Bank -Mumbai, for the business expansion purpose. The Board of Directors of the company at their meeting held on February 09, 2019, considered the same. 

Alembic Pharmaceuticals (Alembic) and Orbicular Pharmaceutical Technologies' (Orbicular)  60:40 Joint Venture (JV) -- Aleor Dermaceuticals (Aleor) has completed United States Food and Drug Administration (USFDA) inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India; with two observations. The inspection was carried out from February 04, 2019 to February 08, 2019.

Eicher Motors has reported a rise of 6.23% in its net profit at Rs 501.41 crore for the quarter ended December 31, 2018 as compared to Rs 472.01 crore for the same quarter in the previous year. Total income of the company increased by 7.70% at Rs 2,490.47 crore for Q3FY19 as compared Rs 2,312.48 crore for the corresponding quarter previous year.

Tech Mahindra has committed to reduce its greenhouse gas emissions by 22 percent by the year 2030, from a 2016 base-year. Further, the company eyes to reduce its greenhouse gas emissions by 50 percent by the year 2050. The same has been approved by the Science Based Targets initiative (SBTi).


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