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Greaves Cotton increases stake in Ampere Vehicles
15 Jul 16:20

Greaves Cotton has acquired 25,73,529 equity shares in its subsidiary Ampere Vehicles by way of investment through primary and secondary purchase for a total consideration of Rs 38.49 crore. With this investment, the company has increased its holding in Ampere to 81.23% from 67.34%. This investment follows the acquisition of Ampere Vehicles by Greaves in October 2018 with 67.34% stake for Rs 77crore. Greaves total investment in Ampere now stands at Rs 120.49 crore (including control premium) for 81.23% stake.The investment is part of Greaves` long-term growth strategy to deliver superior products & services in last-mile e-Mobility space, which is seeing significant interest from various quarters.Greaves Cotton, a multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and Gensets.

Aditya Birla Fashion acquires 51% stake in Finesse
15 Jul 16:10

Aditya Birla Fashion and Retail has entered into a strategic partnership with India`s leading designers `Shantanu & Nikhil` by way of acquisition of 51% stake in Finesse International Design (Finesse), a company primarily engaged in the business of bespoke occasion and ceremonial contemporary apparel for men and women under the brand name `Shantanu & Nikhil.The said acquisition will be through a combination of primary equity infusion and secondary share purchase by way of signing of Share Subscription and Purchase Agreement and Shareholders` Agreement with Finesse and its shareholders. Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company`s brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.

Ashok Leyland’s Pantnagar plant to close due to weak demand
15 Jul 15:57

Ashok Leyland’s plant situated at Pantnagar in the state of Uttarakhand will remain closed from July 16, 2019 to July 24, 2019 (both days inclusive). The shutdown is due to weak demand and outlook for the industry.Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.

Maruti Suzuki to enhance skill levels of students at Haryana JIM
15 Jul 15:14

Japan-India Institute for Manufacturing (JIM), a joint initiative of Maruti Suzuki and Government of Haryana, has opened admissions for its first batch of students at Uncha Majra, Gurugram.Maruti Suzuki will provide training in soft skills and Japanese shop floor practices in the areas of safety, quality, discipline, punctuality, Kaizen, 3G and 5S, which are most essential to be successful at the workplace.Preparing for the EV revolution and to meet the future demand of skilled manpower in the area of Hybrid Electric Vehicles (HEVs) and Electric Vehicles (EVs), Maruti Suzuki will train the students in repair, maintenance, installation and assembly of such vehicles.The institute will also have a special batch for female students. The institute spread over five acres will have eighteen classrooms and eight workshops for practical training. A team of over 40 highly trained instructors and trade experts will impart training to students.Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

Infosys’ CSR arm launches second edition of Aarohan Social Innovation Awards
15 Jul 15:02

Infosys Foundation, the philanthropic and CSR arm of Infosys has launched the second edition of the Aarohan Social Innovation Awards. Following the successful response to the awards in 2018, Infosys Foundation has renewed its commitment towards accelerating innovation in the social sector. The Aarohan Social Innovation Awards 2019 seek to recognize and reward individuals, teams or NGOs developing unique solutions that have the potential to positively impact the underprivileged in India, at scale.Infosys is a global leader in technology services and consulting. The company enables clients in 45 countries to create and execute strategies for their digital transformation.