RIL, Wipro, Tata Power in focus

Reliance Industries (RIL)'s latest annual report released on Wednesday showed that the company has pre-paid $7.8 billion of long-term foreign currency debt during FY21. Further, it has submitted a proposal for the application of Niclosamide as a potential drug against Covid-19.

RIL now has a strong balance sheet with high liquidity that will support growth plans for its three hyper-growth engines, Jio, Retail and Oil-to-Chemicals. Process of separating oil-to-chemicals businesses into a subsidiary is expected to be completed in 2021, RIL said.

Wipro and Finastra, the largest pure-play software vendor that serves the entire financial services industry, announced a partnership to help corporate banks across AsiaPacific accelerate their digital transformation.

Tata Power Company's wholly-owned subsidiary Tata Power Solar has received Letter of Award (LoA) to build 210 MWp of Solar PV projects for NTPC. The total order value of the projects is approximately Rs 686 crore. The commissioning date for NTPC is set for November, 2022.

Persistent Systems announced plans to expand its relationship with IBM to help fuel open hybrid cloud adoption, core IT modernization and digital transformation for customers across the enterprise.

NHPC said that the meeting of the board of directors of the company is scheduled on 10 June 2021, to consider and approve proposal to raise debt up to Rs 4300 crore through issuance of Corporate Bonds and /or raising of Term loans/External Commercial Borrowings.

Rossari Biotech announced that its Board of Directors has approved the acquisition of Unitop Chemicals. The total consideration for the acquisition of 100% equity stake is Rs 421 crore.

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