Reliance New Energy Solar Ltd (RNESL), an arm of Reliance Industries Ltd (RIL), has signed a definitive agreement to acquire 100 per cent stake in UK-based Faradion Limited for an enterprise value of GBP 100 million.

With its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies and has a competitively superior, strategic, wide-reaching and extensive IP portfolio covering several aspects of sodium-ion technology, said RNESL in a press release on Friday.

Global dealmaking is set to maintain its scorching pace next year, after a historic year for merger and acquisition (M&A) activity that was fueled largely by easy availability of cheap financing and booming stock markets.

Global M&A volumes topped $5 trillion for the first time ever, comfortably eclipsing the previous record of $4.55 trillion set in 2007, Dealogic data showed. The overall value of M&A stood at $5.8 trillion in 2021, up 64% from a year earlier, according to Refinitiv.

IT services major Tech Mahindra announced the acquisition of 100 per cent stake in Allyis India and Green Investments for $125 million in an all cash deal.

The target entity is Allyis India Pvt Ltd and Green Investments LLC, holding company for Allyis Group (together called as Target). Target is headquartered in Seattle, US, and has more than 660 employees. For the financial year ending December 31, 2020, Target reported a revenue of $39.6 million.

CMS Info Systems debuted on a mildly positive note in an otherwise firm market. The stock was listed at Rs 218.50 on the BSE - a 1.2 per cent premium to its issue price of Rs 216 per share.

As of 10:07 am, the stock had hit a high of Rs 226.60, and a low of Rs 215.55 on the BSE. The stock quoted almost flat at Rs 216.70 with volumes of around 5.75 lakh shares. Meanwhile, the BSE benchmark index, the Sensex was up 0.7 per cent at 58,224.

Indigo Paints zoomed 15.7 per cent to a high of Rs 2,247 in intraday trades on the BSE on Friday on the back renewed buying interest at the counter.

The stock had recently hit a fresh 52-week low of Rs 1,900 on December 27, 2021, and was down a whopping 43.2 per cent from its 52-week high of Rs 3,348 touched on February 03, 2021.

Foreign automakers have indicated an interest to the government of India's Tamil Nadu state in acquiring Ford Motor Co's plant there, the state industries minister said on Thursday, after inconclusive talks with the Tata Group.

Ford India said in September it would wind down operations at a factory in Western Gujarat state by end-2021 and vehicle and engine manufacturing at the Tamil Nadu plant by 2022, as it did not see a path to profitability in the country.

Omicron is gradually spreading in the community and the new, fast-spreading variant of concern has been found in 46 per cent of the latest samples analysed in the national capital, Delhi Health Minister Satyendar Jain said on Thursday.

He said stringent curbs have been put in place as part of the Graded Response Action Plan for COVID-19 to check the spread of the infection and the Delhi Disaster Management Authority (DDMA) will decide on implementing more restrictions.

Granules India Ltd on Thursday said it has received approval from the US health regulator for its generic Amphetamine mixed salts indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) and narcolepsy.

The approval granted by the US Food and Drug Administration (USFDA) to Granules Pharmaceuticals, Inc (GPI), a wholly-owned arm, is for the abbreviated new drug application (ANDA) of amphetamine mixed salts of strengths 5mg, 7.5mg, 10mg, 12.5mg, 15mg, 20mg and 30mg immediate release tablets, the company said in a statement.

State-owned power giant NTPC arm NTPC Renewable Energy Ltd (NREL) will float a global engineering procurement and construction tender to set up a 3GW renewable energy project with a battery storage system worth around Rs 15,000 crore by February 2022, according to a senior official.

"The NREL has decided to float a global tender or RFP (request for proposal) for a 3GW renewable energy project (like solar and wind) with battery energy storage system in the next two months (by February 2022).

Diversified entity ITC Ltd on Thursday said it has collaborated with Invest India, a non-profit venture by the central government for national investment promotion and facilitation, to crowdsource innovative ideas for single-use plastic substitution and automate waste segregation.

Under the collaboration, ITC Paperboards and Specialty Papers Division (PSPD) has launched the ITC Sustainability Innovation Challenge, which would support innovative startup ideas on sustainable packaging and smart waste management solutions, the company said in a statement.

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