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Showing posts from June, 2022

Cipla to invest Rs 26 cr in digital tech co GoApptiv to raise stake to 22%

Pharma company Cipla has agreed to acquire an additional stake for nearly Rs 26 crore in digital tech company GoApptiv Private to raise its shareholding to 22.02 per cent, the company said on Monday. The investment will be made in equity shares and Compulsorily Convertible Preference Shares and is likely to be completed within 30 days or such other date mutually agreed between the parties, Cipla said in a regulatory filing. Cipla's earlier investment in GoApptiv in June 2020 has yielded growth and expanded Cipla's channel reach across lower tier towns in India. "This investment will further strengthen our partnership with GoApptiv enabling wider patient reach with affordable and quality drugs and end-to-end brand marketing and channel engagement across tier 2-6 towns in India. 'Caring for Life' is at the heart of what we do and will guide us towards making such strategic investments to help make a difference in the lives of our patients," Umang Vohra, MD and G...
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Foxconn Chairman, Vedanta semiconductor head discuss plant location

Electronics manufacturing services company Foxconn chairman Young Liu on Thursday met Vedanta Group's managing director Akarsh Hebbar to discuss the roadmap of their proposed electronic chip manufacturing plant and its location. Vedanta and Foxconn had signed a memorandum of understanding in February to form a joint venture company in India. Vedanta will hold 60 per cent of the equity in the JV, while Foxconn will own 40 per cent. "Foxconn Chairman Young Liu met Akarsh Hebbar, Vedanta Group's Global Managing Director of Display & Semiconductor Business, in New Delhi to discuss the next steps for their proposed partnership to manufacture semiconductor chips in India," Foxconn said in a statement. According to sources, both discussed the location of setting up their semiconductor plant, which will be announced soon. This is the first joint venture in the electronics manufacturing space after the government announced an incentive scheme for semiconductors and display...
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Indian Hume Pipe Co receives Rs 110 crore work order in Rajasthan

Indian Hume Pipe Co Ltd on Saturday said it has bagged a Rs 110-crore pipe order in Rajasthan. In a statement, the company said it has secured the work order from the Public Health Engineering Department (PHED), Ajmer. "It is for Cluster Water Supply Project Package-VII of Chambal Bhilwara Water Supply Project Phase II of Jahajpur-Kotri Tehsils of District Bhilwara under Jal Jeevan Mission with operation and maintenance for 10 years," the company said. The project is to be completed within 15 months from signing of the agreement, it said. from Companies https://ift.tt/v96qobE via IFTTT
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Tata Motors to strengthen R&D capabilities with fresh hiring this year

Tata Motors is gearing up to strengthen its R&D with fresh hiring as well as upskilling of the current employees this fiscal year in order to scale up capabilities across various business verticals, including the electric vehicle segment, as per a top company official. In the EV space, the company is looking to enhance its expertise in the area of battery packs and vehicle architecture, among others. "As far as hiring in R&D is concerned we are going for major hiring, especially this year, but there is also another area which we have looked into very deeply and that is upskilling the current engineers within R&D," Tata Motors President Passenger Vehicle and Electric Vehicles Shailesh Chandra said in an analyst call. It is going to be a big component of how the company is planning to really expand its R&D base, he added. The Mumbai-based auto major, in line with its growth aspirations and business plans for the next few years, is hiring across various verticals...
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