RITES, Etihad Rail Ink MoU; Everwave Expands, FUNKE Acquires Food Portal
RITES has signed a Memorandum of Understanding (MoU) with Etihad Rail and its subsidiary to bolster business collaboration in the mobility sector across the UAE and beyond. Meanwhile, Everwave has secured financing to expand internationally, FUNKE Mediengruppe has acquired a leading food portal, and Heidelberger Druckmaschinen AG's subsidiary has introduced new printing presses.
On October 1, 2021, several companies made significant moves. Everwave, a leading European impact company in water quality, waste management, and the circular economy, secured financing to expand internationally with new locations in Southeast Asia and to advance its water purification technologies. FUNKE Mediengruppe acquired the leading food portal Chefkoch from RTL Deutschland to enhance its digital portfolio and food segment presence. Heidelberger Druckmaschinen AG's subsidiary Gallus introduced two new printing presses—one fully digital and one hybrid—to signal important innovations in printing technology.
In infrastructure news, Atlanatta inked an agreement with IRCON International for a ₹2,485 crore contract to build the Bhandara-Gadchiroli Access Controlled Expressway in Maharashtra under the EPC model. Adani Road Transport signed share purchase agreements to acquire a 100% stake in Yashodhan Highways and KN Highways Development. In the stock market, GIFT Nifty futures was trading lower by 5 points at 24,773, indicating a likely muted start for domestic benchmark indices on Wednesday. RateGain Travel Technologies signed a definitive agreement to acquire Sojern Inc., an auxiliary AI-led MarTech company specializing in the hospitality sector. The Nifty50 traded 0.10% lower or 24 points on Tuesday, closing at 24,611, while the S&P BSE Sensex slumped by 92 points or 0.12%, closing at 80,268.
RITES' MoU with Etihad Rail and its subsidiary aims to boost business collaboration in the mobility sector. Everwave's expansion and FUNKE Mediengruppe's acquisition demonstrate growth in their respective sectors. Atlanatta's infrastructure project and Adani Road Transport's acquisitions indicate progress in India's infrastructure development. The stock market saw mixed performance, with GIFT Nifty futures and major indices closing lower. RateGain Travel Technologies' acquisition and Nestlé India's MoU with the Ministry of Food Processing Industries highlight strategic moves in the tech and food processing sectors.
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