Wipro in spotlight after divestment of data centre biz in Germany, UK

Wipro said it completed the divestment of Wipro Data Centre and Cloud Services, Inc., and data center business in Germany and UK on 27 June 2018, for a consideration of $399 million. The divestment of data center operations in India is likely to be completed during the quarter ending 30 September 2018, subject to receipt of requisite regulatory approvals and customary closing conditions. Upon completion of such divestment, the company will receive the remaining consideration of $6 million from Ensono. Further, Wipro LLC, a wholly owned subsidiary of Wipro, has completed the acquisition of 10.2% stake in Ensono Holdings, LLC on 27 June 2018. The announcement was made after market hours yesterday, 28 June 2018.

Jindal Steel & Power said it has extended the divestment of 1000 MW (4X250 MW) thermal power plant date by one year to 30 June 2019. The company had informed on 3 May 2016, that it entered into a securities purchase agreement for divestment of 1000 MW (4X250 MW) thermal power plant of Jindal Power, a subsidiary company, located at Village Tamnar, District Raigarh, Chhattisgarh to JSW Energy with 30 June 2018 as the long stop date. As the conditions precedent are yet to be completed, it has been agreed to extend the long stop date to 30 June 2019. The announcement was made after market hours yesterday, 28 June 2018.

Indo Rama Synthetics (India) said its board approved issuing 90.90 lakh equity shares by way of preferential issue on private placement basis to EC Special Situations Fund and Edelweiss India Special Situations Fund - II. The announcement was made after market hours yesterday, 28 June 2018.

Kalpataru Power Transmission (KPTL) said it secured new orders / notification of award of Rs 1235 crore. The announcement was made after market hours yesterday, 28 June 2018.

Orient Abrasives announced that owing to certain unruly behavior & unjust demands resorted to by the workmen/ labourers at the company's plant situated at GIDC Industrial Area, Porbandar, Gujarat, the management has been forced to keep the plant shut and close its operations from 27 June 2018 till further notice. Considering the seasonal/cyclic nature of business as well as the weather conditions, such shut down may not have any material adverse impact on the revenues of the company. The management is working hard to amicably resolve the situation & restore operations at the earliest, the company said. The announcement was made after market hours yesterday, 28 June 2018.

Powered by Capital Market - Live News