HAL signs Rs 2,400 crore contract with BEL for Tejas MK1A systems
Hindustan Aeronautics Ltd (HAL) has signed a Rs 2,400 crore contract with Bharat Electronics Limited (BEL) for the development and supply of 20 types of systems for the Light Combat Aircraft (LCA) Tejas Mk1A program. The agreement involves the supply of critical avionics, Line Replaceable Units (LRUs), flight control computers, and night-flying LRUs. The contracted items will be delivered by BEL to HAL in a ready-to-board condition.
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L&T’s power transmission, distribution business secures order from India, overseas
Larsen & Toubro’s (L&T) power transmission and distribution business has received orders from India and overseas. It has received an order to provide a dynamic reactive power compensator system at a substation in Abu Dhabi. The business has also secured orders to construct 380kV Overhead Transmission Lines, 132kV network connections, and to establish a 400kV substation in the Middle East. In India, orders have been won to create power distribution infrastructure in two circle areas of Bengaluru.
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Welspun India enters Dow Jones Sustainability Index
Home textiles company Welspun India Ltd has entered the Dow Jones Sustainability Index (DJSI). It featured in the index due to strong environmental performance and significant improvement in its social and governance impact parameters. In its maiden ranking on the DJSI, Welspun India’s Environmental, Social, and Governance (ESG) score was 48, which is ~62% higher than the average industry score.
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Cadila Healthcare gets orphan drug designation for malaria treatment compound
Cadila Healthcare Ltd announced that its antimalarial compound ZY19489 (MMV253) has received Orphan Drug Designation from the US Food & Drug Administration (USFDA). The Phase-I study of ZY19489 demonstrated a long half-life and potential for a single-dose cure for malaria. Orphan drug designation provides eligibility for certain development incentives, including tax credits for qualified clinical testing and prescription drug user fee exemptions.
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Tata Power’s subsidiary secures 300 MW wind-solar hybrid project
TP Saurya Ltd (TPSL) has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for setting up a 300 megawatt (MW) wind-solar hybrid power project. TPSL is a wholly-owned subsidiary of Tata Power. This project has been awarded through tariff-based competitive bidding followed by an e-Reverse auction.
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Plaza Premium selects TCS to transform global airport hospitality
Tata Consultancy Services (TCS) has secured a deal from Hong Kong-based Plaza Premium Group (PPG) to develop an end-to-end digital platform that will improve customer experience and operational excellence at 70 airport locations that serve 20 million passengers annually. The platform is expected to be first deployed at Bangalore International Airport Ltd. in early 2022. TCS’ platform will enhance customer experience by simplifying reservations for various services at PPG’s lounges and other hospitality outlets.
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Vodafone Idea to target a four-fold jump in capex to $2 billion
Vodafone Idea (Vi) is targeting a four-fold jump in annual capital expenditure (capex) to $2 billion (~Rs 15,000 crore) as it looks to take on rivals. The sharp rise in Vi’s annual capex is crucial for the company to revamp its 4G operations across its 17 priority markets. At an internal investors’ call this week, the telecom operator also announced that equity funding (including from promoters) is set to be tied up by March 2022.
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CarTrade Tech to invest $100 million, eyes new acquisitions to accelerate growth
CarTrade Tech Ltd plans to deploy up to $100 million (~Rs 750 crores) to strategically acquire and invest in companies in the automotive space. The company is actively looking to invest in companies that are driving innovation in all aspects of the automobile ecosystem, including auto finance, leasing, insurance, servicing, car ownership, electric vehicles, and new-age tech to digitize the auto buying and selling journey.
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Ramco Systems to implement its aviation suite for Pathfinder Aviation
Ramco Systems Ltd will implement its Aviation M&E MRO Suite V5.9 at Pathfinder Aviation, a heli-charter operator with services ranging from survey and exploration, firefighting, heli-skiing, etc. The company’s full suite Aviation Software will integrate and automate various operations at Pathfinder Aviation, empowering them with a one-stop solution to cater to all their complex business needs.
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Britannia revamps Good Day brand; to add three more variants
Britannia Industries Ltd has revamped its largest selling biscuit brand Good Day and also revealed its new identity. The company is expanding the product portfolio of its most-penetrated brand Good Day by adding three more variants in the premium segment. Britannia will launch Good Day Harmony and two other variants in the premium segment, which is growing fast after the pandemic.
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