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Tech Mahindra to invest up to Rs 700 crore over the next 2-3 years:

IT services major Tech Mahindra (TechM) on Friday said it would invest Rs 500-700 crore into the newly carved out products and platforms unit over the next 2-3 years. The company believes that the unit can become a $1-billion business in the same period. “We had acquired Comviva a few years back, which has been creating products and platforms for the telecom sector. A few months back we decided to merge all our other product and platform offering into Comviva,” said C P Gurnani, managing director and chief executive officer, TechM.

Maruti Suzuki expects chip shortage to continue for few more quarters:

Maruti Suzuki India expects semiconductor shortage to continue for the next few quarters leading to further increase in order backlog of certain models, according to a senior company official. The country's largest carmaker has seen its pending bookings stretch to 3.69 lakh units with Ertiga leading the pack with close to 94,000 bookings.

Other models like Grand Vitara and Brezza have an order backlog of around 37,000 and 61,500 units, respectively.Further, the company has received around 22,000 and 12,000 bookings, respectively, for Jimny and Fronx.

HINDUSTAN ADHESIVE:

Company has made an investment of Rs. 1,37,00,000 by acquiring shares of 13,70,000 i.e. 55.02% in the Right Issue of Bagla Technopack Private limited.

Earlier the company has made an investment of Rs. 10,00,000 by acquiring shares of 1,00,000 i.e. 19.61% in the Right Issue of Bagla Technopack Private limited.

NEOGEN CHEMICAL:

Company to buy 100 % stake in BuLi Chemicals India Private Limited (“BuLi Chem”) From from Livent USA Corporation (formerly known as FMC Lithium USA Corporation ) For Rs 25 Cr

BuLi Chem owns technology to manufacture N Butyl Lithium and other organolithium products using Lithium metal, which are key reagents for Lithiation reaction used in manufacturing of several complex pharmaceutical and agrochemical intermediates. BuLi Chem manufactures and supplies N Butyl Lithium to several leading pharma and agrochemical companies in India and world, and is one of the very few commercial facilities outside of China for this chemistry.

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