TCS
Tata Consultancy Services (TCS) has announced an expanded partnership with Nest, the UK’s largest workplace pension scheme, in a significant deal worth £840 million. This collaboration aims to digitally transform Nest’s scheme administration services and enhance member experiences.
RVNL
Rail Vikas Nigam Ltd (RVNL) announced on June 22 that it has successfully secured two projects worth INR 280 crore from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Ltd (MPPKVVCL) in Jabalpur.
Ashok Leyland
Ashok Leyland, a prominent commercial vehicle manufacturer, has recently announced a strategic partnership with IDBI Bank Ltd to strengthen dealer channel financing. In a statement, Ashok Leyland revealed the signing of a Memorandum of Understanding (MoU) with IDBI Bank, aiming to provide tailored financial solutions for its dealers.
Larsen and Toubro
Mumbai-based engineering and infrastructure conglomerate, Larsen and Toubro, has recently entered into a partnership with the Defense Research and Development Organization (DRDO) to develop Air Independent Propulsion (AIP) system modules for the Indian Navy’s Kalvari class submarines.
Glenmark Pharma
Glenmark Pharmaceuticals witnessed a 2% decline in its shares during early trade on June 22, following the issuance of a warning letter by the US Food and Drug Administration (USFDA) to its Monroe facility located in North Carolina.
NIIF
India’s National Investment & Infrastructure Fund (NIIF) is actively engaged in discussions to raise a minimum of INR 20 billion ($244 million) for an infrastructure investment trust, as per sources familiar with the matter.
IndusInd Bank
IndusInd Bank, a prominent private sector lender, has recently announced an increase in its marginal cost of funds-based lending rates (MCLR) for specific tenures, raising them by up to 10 basis points (bps). Effective from June 22, 2023, the revised lending rates have come into effect as stated on the bank’s official website. Consequently, the overnight to three-month MCLR rate has been raised by 10 bps, while the six-month lending rate has seen an increase of 5 bps.
Coforge
In a significant move, Coforge Ltd, an IT company, has announced the acquisition of a 20 percent stake in Coforge Business Process Solutions Private Ltd for a total of Rs 336.94 crore. This acquisition adds to the company’s strategic investments and expansion plans.
Fortis Healthcare
Fortis Healthcare Ltd announced on June 22 that it has finalized definitive agreements to sell its hospital business operations in Vadapalani, Chennai to Sri Kauvery Medical Care (India) Ltd for an amount of INR 152 crore.
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