Atul Auto - Auto sale update for August 2020
Steel Strips Wheels - Sales update for Aug 2020
Eicher Motors (Royal Enfield) - Auto sales for August 2020
Eicher Motors (Volvo Eicher - VE) - Auto sales - August 2020
Ashok Leyland - Auto sales for August 2020
Mahindra & Mahindra (Farm Equipment) - Auto sales update for August 2020
Mahindra & Mahindra (Auto Division) - Auto sales update for August 2020
SML Isuzu - Auto sales update for August 2020
Steel Strips Wheels has confirmed export orders for over 42,000 US & EU Trailer Market to be executed in the month of September & October from its Chennai plant.
Total value is around 455K USD.
Escorts - Auto sales update for August 2020
Vodafone Idea Limited (VIL), Vodafone Group Plc (Vodafone), Bharti Airtel Limited (Bharti Airtel), Indus Towers Limited (Indus) and Bharti Infratel Limited (Infratel) have agreed to proceed with completion of the merger of Indus and Infratel.
VIL has undertaken to sell its 11.15% stake in Indus for cash. The cash consideration payable by Infratel to VIL will be based on a formula linked to Infratel’s VWAP for the 60 trading day period closer to the merger. The Parties have also agreed to use the FY20 EBITDA and net debt as on the closing date for Indus and Infratel valuation, with certain agreed pre-closing adjustments. Based on Infratel’s VWAP during the last 60 trading days as on August 31, 2020, the value of VIL’s 11.15% stake equates to a cash consideration of approximately Rs. 40.4 billion (~US$ 551 million). The final determination will take place shortly before closing of the merger.
VIL has agreed to make a prepayment of Rs. 24 billion to the merged tower entity from the cash consideration to be received from Infratel at the time of closing. The prepayment amount will be adjusted to the extent of 50% of all undisputed and due amounts payable by VIL to the merged tower entity post-closing and VIL will be required to pay only the balance 50% of undisputed dues. The prepayment amount will accrue interest at 6% p.a. This will continue until the entire prepayment amount with accrued interest is fully adjusted.
The Parties have agreed to take appropriate steps to progress the approvals for the merger, the completion of the merger shall be subject to receipt of all such approvals. The merger scheme shall become effective on the date on which certified copy of the order of Hon'ble NCLT is filed with Registrar of Companies.
Five-year contract with the Swedish medical solutions company to strengthen Mindtree’s presence in the European market with accelerated SAP-run transformation
Mindtree today announced that it has partnered with Mölnlycke to provide SAP application development and maintenance along with cloud operations. Mindtree will help migrate Mölnlycke’s on-premise SAP to Microsoft Azure and accelerate towards a platformled DevSecOps operating model ensuring faster response to business changes and reliable IT support.
Maruti Suzuki - Auto sales for August 2020
Prakash Industries - Q1 update
8K Miles Software - Q1 (Cons) update
The Board of Directors of the Company at its meeting held today, has considered and approved following:
- The Company has approved in-principle, the entry of the Company in to Ductile Pipes business at an appropriate time and value through organic and inorganic route.
- Borrowing of long-term funds up to Rs. 500 Crores for general corporate purposes by issue of debt securities, subject to receipt of the necessary statutory and regulatory approvals including the approval of the shareholders as may be required.
Steel Strips Wheels has confirmed export orders for over 3,700 US Caravan Trailer Market to be executed in the month of September from its Chennai plant. Total value is around 46K USD.
With this, ihe chennai steel wheels plant is gradually gaining pace with production.
Adani Airport Holdings Limited (“AAHL”), the flagship holding company of Adani Group for its airports business (and a subsidiary of Adani Enterprises Limited) has entered into an agreement to acquire the debt of GVK Airport Developers Limited (“GVK ADL”).
GVK ADL is the holding company through which GVK Group holds 50.50% equity stake in Mumbai International Airport Limited (“MIAL”), which in turns holds 74% equity stake in Mumbai International Airport Limited (“NMIAL”).
According to the agreement, AAHL will acquire the debt of GVK ADL from its airport lenders.
The GVK Group and AAHL have agreed that AAHL will offer a stand-still to GVK, in addition, to release of the guarantee given by GVK Power and Infrastructure Limited with respect to the debt acquired by it. The Adani Group will also take steps to complete the acquisition of a 23.5% equity stake from ACSA and Bidvest in MIAL for which it has obtained CCI approval. Upon the acquisition of the debt of GVK ADL, Adani Group will take steps to obtain necessary customary and regulatory approvals, as may be required, to acquire controlling interest in MIAL.
AAHL intends to infuse funds into MIAL to ensure that MIAL receives much needed liquidity and also achieves financial closure of Navi Mumbai International Airport to be able to commence construction.
Cyient to Acquire IG Partners, a Specialist Australian Consulting Firm to Strengthen its Digital Capabilities in the Energy and Mining Industry
- Enterprise Asset Management Solution including predictive maintenance and warranty management
- Mining 4.0 - IT/OT convergence, exploration data compilation, minerals exploration data management
- Operational Efficiency - Digitally enabled workforce, advanced analytics and machine learning, supply chain, and automated planning
The company has signed a definitive agreement to acquire the 100% stake in Integrated Global Partners Pty Limited (IG).
The Enterprise value shall be payable as follows
- AUD 11.6 Million on a cash free debt free basis
- Earn outs based on future performance
The time required for completion may range upto 6 months depending on when the Foreign Investment Review Board (FIRB)
approval is granted.
Rationale for acquisition are gaining access to decision makers with global mining majors, acceleration in Cyient’s mining strategy and positioning Cyient as a digital transformation leader in the market.