L&T, Wipro, Mazagon Dock, Tata Communications in focus

L&T: The meeting of the board of directors of the company is scheduled on 27 March 2024 to consider and approve fund raising including by way of debt issue.

Wipro: Wipros step-down subsidiary, Wipro IT Services LLC has entered into an agreement with General Motors and Magna International, to incorporate a new entity i.e., SDVerse LLC. The said transaction has been completed on 20 March 2024.

Mazagon Dock Shipbuilders: Mazagon Dock Shipbuilders has accepted the offer of Mumbai Port Authority (MbPA) for the allotment of land and building adjacent to MDL Mumbai Yard measuring 14.55 acres, on long term lease basis for a period of 29 years w.e.f. 01.04.2024 to 31.03.2053.

Tata Communications: The board of directors of Tata Communications has approved the proposal to enter into a business transfer agreement for the hive-off of the company's identified new edged digital services business to its wholly owned subsidiary, Novamesh Limited as a going concern on slump sale basis. The consideration is Rs 458 crore.

Lemon Tree Hotels: Lemon Tree Hotels said that it has signed franchise agreement for upcoming hotel in Ranchi, Jharkhand. The property, which will be franchised by Lemon Tree Hotels is expected to open in FY25.

Mahindra Lifespace Developers: The company is undertaking launch of a residential project, Mahindra Zen at Bengaluru South.

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