Nifty Corrects, Yes is a clear NO! Metals toughen up! 15/06/2019

Weekly	Last Close	Last Week Close	Change %
Nifty	11,823.30	11,922.70	-0.83%
Bank Nifty	30,614.35	31,034.00	-1.35%
USD INR	69.88	69.36	-0.76%
Crude Oil	3,676.00	3,731.00	-1.47%

Top Gainer of the week on Nifty
Tata Steel	4.09 %
Top Loser of the week on Nifty
Yes Bank	-17.76 %

Top Gaining Sector
BSE Metal	+1.65 %
Top Losing Sector
Nifty Realty	-3.10%

Industries that saw good volumes past week:

NBFC

Private Banks

Forthcoming Events
Event	Date
M3 Money Supply	19-June-19
RBI MPC Meeting Minutes	20-June-19
Bank Loan Growth	21-June-19
Deposit Growth	21-June-19
FX Reserves, USD	21-June-19

Forthcoming Record Dates
Company	Date	Purpose
Cholamandalam Investment & Finance Company Ltd.	17-June-19	Stock Split
Ekam Leasing & Finance Company Ltd.	17-June-19	Stock Split
Panache Digilife Ltd.	17-June-19	Final Dividend.
APM Industries Ltd.	18-June-19	Spin Off
Triveni Engineering & Industries Ltd.	19-June-19	Buy Back of Shares
KPR Mill Ltd.	19-June-19	Buy Back of Shares
SH Kelkar & Co Ltd.	20-June-19	Buy Back of Shares
Reliance Chemotex Industries Ltd.	20-June-19	Special Dividend
HDFC Bank Ltd.	21-Jun-19	Dividend
Wipro Ltd.	21-June-19	Buy Back of Shares
Adani Ports and Special Economic Zone Ltd.	21-Jun-19	Buy Back of Shares
Mittal Life Style Ltd.	21-Jun-19	Bonus 2:3

15-Jun-2019

Dish TV India wins ‘BCS Ratna Award 2019’

Dish TV India has won BCS Ratna Award 2019. The company continued its winning streak by bagging award for ‘Fastest growing DTH brand in HD Category (2018-19)’. With this, the company has become the only Media & Entertainment organization to have won the award consecutively seventh time in a row and second time for the ‘Fastest Growing DTH Brand in HD Category’ title.

Dish TV is India’s largest Direct to Home television operator using MPEG 4 DVB S2 and MPEG 2 digital compression technology.

 

15-Jun-2019

Bharat Financial Inclusion completes second direct assignment transaction of Rs 1,546 crore

Bharat Financial Inclusion has assigned a pool of receivables of an aggregate value of Rs 1,545.93 crore to one of the largest private sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the second Direct Assignment transaction in FY20.

With this transaction, the company has completed Direct Assignment transactions worth Rs 2,653.33 crore in FY20.

Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company’s mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.

 

15-Jun-2019

Tata Power’s arm raises Rs 1,110 crore via NCDs

Tata Power Company’s subsidiary — Coastal Gujarat Power (CGPL) has raised Rs 1,110 crore through issuance of Non-Convertible Debentures (NCDs) on private placement basis, for refinancing existing debt, capital expenditure and augmentation of working capital.

The NCDs will carry a coupon rate of 9.15 per cent, payable annually. The debt obligations of CGPL under the NCDs are guaranteed by the company.

Tata Power Company is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

 

15-Jun-2019

Cadila Healthcare’s arm receives EIR for manufacturing facility in Ahmedabad

Cadila Healthcare’s subsidiary– Alidac Pharmaceuticals has received an Establishment Inspection Report (EIR) for manufacturing facility located at Pharmez, Ahmedabad.

The USFDA had conducted a Pre-Approval Inspection (PAI) for Doxorubicin Liposomal, a complex oncological injectable at Alidac, the injectable onco manufacturing facility, from March 18 to March 26, 2019. There was also a separate in-vitro BE inspection conducted by the Office of Study Integrity and Surveillance branch of the USFDA for the same product.

Cadila Healthcare is an India-based pharmaceutical company. The company’s subsidiaries include Zydus Wellness, Liva Pharmaceuticals, Biochem Pharmaceutical Industries, Zydus Technologies, German Remedies, Dialforhealth India, Dialforhealth Unity and Dialforhealth Greencross, among others.

 

15-Jun-2019

ITC registers 11.55% increase in forex earning in FY19

ITC has registered 11.55% increase at Rs 4,673 crore in forex earning in 2018-19, driven by exports of agri-commodities. The company has made nearly $7.2 billion in the last 10 years, of which agri-exports constituted 56%. In FY19, the company and its subsidiaries earned Rs 4,673 crore in foreign exchange.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.

 

15-Jun-2019

NIIT Technologies completes acquisition of 52.11% stake in Whishworks IT Consulting

NIIT Technologies has concluded the transaction at the first closing by acquiring approximately 52.11% stake in the equity share capital of Whishworks IT Consulting, thereby acquiring control of the Whishworks IT Consulting.

The balance 0.56% stake of the first closing shall be acquired upon fulfilment of certain regulatory requirements by Whishworks IT Consulting. Consequent to the above transaction, Whishworks IT Consulting has become a subsidiary of the company with immediate effect.

NIIT Technologies is a leading global IT solutions organization servicing customers across the Americas, Europe, Asia, and Australia. NIIT Technologies services clients in travel and transportation, banking and inanely, services, insurance.

 

15-Jun-2019

M&M’s FES invests $4.3 million in Gamaya

Mahindra & Mahindra’s (M&M) Farm Equipment Sector (FES) has invested $4.3 million for an 11.25% stake in Switzerland based agri technology firm Gamaya SA. This investment will be through a subscription to 300 Common Shares and 30,469 Series B Preferred Shares of Gamaya SA.

ICOS Capital, VI Partners and some existing investors also participated in the CHF 7.5 mn Series B funding round. Through this investment, Mahindra will make superior farming solutions easily accessible to the global farming community, in line with the company’s Farming 3.0 strategy.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

 

15-Jun-2019

Voltas opens new brand shop in Kerala

Voltas has launched a new Brand Shop – Rams AC Systems at Chackai, Thiruvananthapuram in the state of Kerala. The brand store features a well-designed and visually appealing display of new range of Voltas and Voltas Beko’ products, comprising Air Conditioners, Air Coolers, Commercial Refrigerators, Water Dispensers, Water Coolers, Refrigerators, Washing Machines, Microwaves and Dishwashers.

The Brand Shop is being launched to meet the expectations of consumers from a growing city like Thiruvananthapuram with technologically advanced products of Voltas and Voltas Beko.

Voltas is among India’s leading air-conditioning, refrigeration and engineering services companies.

 

14-Jun-2019

Provogue’s net loss widens to Rs 30 crore in Q4

Provogue (India) has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a net loss of Rs 29.92 crore for the quarter under review as compared to net loss of Rs 19.31 crore for the same quarter in the previous year. Total income of the company decreased by 36.26% at Rs 14.64 crore for Q4FY19 as compared Rs 22.97 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a net loss of Rs 63.14 crore as compared to net loss of Rs 226.18 crore for the previous year. Total income of the company decreased by 25.38% at Rs 72.82 crore for year under review as compared to Rs 97.59 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a net loss of Rs 95.10 crore as compared to net loss of Rs 247.18 crore for the previous year. Total income of the company decreased by 29.59% at Rs 90.96 crore for year under review as compared to Rs 129.19 crore for year ended March 31, 2018.

 

14-Jun-2019

Spice Mobility gets nod to issue equity shares to Spice Digital

Spice Mobility has received approval for the issuance and allotment of 25,090 fully paid up equity shares of the face value of Rs 3 each to the shareholder of Spice Digital as a consideration for demerger of DTS Business into Spice Mobility and for remaining business of Spice Digital. The Board of Directors of the Company at its meeting held on June 14, 2019 has approved the same.

The company’s board has also approved issuance and allotment of 12,993 fully paid up equity shares of the face value of Rs 3 each to the shareholder of Spice Labs as a consideration towards amalgamation of Spice Labs into Spice Mobility.

Spice Mobility is engaged in manufacturing mobile phones. Its products include smart devices, smart phones, networking phones, feature phones and archived phones. Spice Mobility operates as a subsidiary of Spice Group.

 

14-Jun-2019

Indian Wood Products launches ‘Pan Sugandh’ in Bihar

The Indian Wood Products Company has launched retail packet of Katha in the name of ‘Pan Sugandh’. The product is introduced under brand ‘IWP’ in the state of Bihar on June 14, 2019.

The Indian Wood Products Company is engaged in the manufacture of Katha, cutch, and catechins in India.

 

14-Jun-2019

Westlife Development’s arm comes up with McSaver Snacks Mix n’ Match combo offers

Hardcastle Restaurants (HRPL), a Master Franchisee for West & South India operations of McDonald’s restaurants and a subsidiary of the Westlife Development, has come up with McSaver Snacks Mix n’ Match combo offers starting at just Rs 49, exclusively on the McDonald’s app.

This limited time offer starting June 15 will only be valid till June 25. The 1+1 offer will include all of the consumer favorites which can be redeemed at the McDonald’s restaurant through the app.

Westlife Development focuses on putting up and operating Quick Service Restaurants (QSR) in India through its subsidiary HRPL. The Company operates a chain of McDonald’s restaurants in west and south India, having a master franchisee relationship with McDonald’s Corporation USA, through the latter’s Indian subsidiary.

 

14-Jun-2019

Texel Industries planning to raise funds through various means

Texel Industries is planning to raise funds by issue of Equity Shares and/ or Convertible and/or Non-Convertible Debentures, and/or Preference Shares and/or Bonds and/or any other financial instrument convertible into equity shares, or such other securities, or any combination. The Board of Directors of the Company at its meeting to be held on June 19, 2019 to consider the same.

Texel Industries is engaged in manufacturing Geomembranes for use in the construction and infrastructure sectors and PE Protection Covers for general use.

 

14-Jun-2019

Tata Communications’ arm divests remaining 26% stake in STT Tai Seng

Tata Communications International (TCIPL), a wholly owned subsidiary of Tata Communications in Singapore, has divested its 26% stake in STT Tai Seng, which operates the data centre business in Singapore, to STT APDC, a wholly-owned subsidiary of STT GDC (STT GDC) at an agreed consideration based on fair market value and changing market conditions.

This divestment is in line with company’s strategy to evolve the business portfolio by focusing on offering digital infrastructure services through the Growth and Innovation Services portfolio, complementing an asset light growth model. Tata Communications continues to maintain 26% stake in the India Data Centre business of STT GDC and the company continues to benefit from the rub off effect on its network services due to this investment.

Tata Communications along with its subsidiaries is a leading global provider of A New World of Communications.

 

14-Jun-2019

Mahindra launches asset optimization solution for global renewables industry ‘TEQO’

Mahindra Partners, the $1 billion Private Equity division of the Mahindra Group, has launched TEQO, a technology driven asset care company that offers optimization solutions for renewable energy customers in India and globally. Mahindra Partners currently manages the Group’s cleantech division, including Mahindra Susten, which is India’s leading solar EPC Company.

The name TEQO is derived from three words, Technology, Quality and Operations and reflects the company’s aspiration to deliver a comprehensive, technology-enabled, asset management solution. TEQO enables renewable energy asset owners to maximize their returns by leveraging advanced technologies, including Machine Learning, Artificial Intelligence, IoT, Big Data, Robotics, Augmented Reality and Natural Language Processing.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

 

14-Jun-2019

Sun Pharma reports interim results from Phase 2 study of interleukin-23

Sun Pharmaceutical Industries has reported interim results from a Phase 2 study of interleukin-23 (IL-23) inhibitor ILUMYA (tildrakizumab-asmn) in patients with active psoriatic arthritis that was presented in a late-breaking oral presentation at the Annual European Congress of Rheumatology (EULAR 2019) in Madrid, Spain.

The interim analysis revealed that over 71% of patients treated with ILUMYA experienced a 20 percent improvement in joint and skin symptoms (ACR20), meeting the primary endpoint of the study. The interim results showed ILUMYA was well tolerated with a low rate of serious treatment-emergent adverse events.

Sun Pharmaceutical Industries is the world’s fourth largest specialty generic pharmaceutical company and India’s top pharmaceutical company.

 

14-Jun-2019

Dr. Reddy’s Lab enters into definitive agreement with Upsher-Smith Laboratories, LLC

Dr. Reddy’s Laboratories has  entered into a definitive asset purchase agreement with Upsher-Smith Laboratories, LLC (Upsher-Smith), pursuant to which the company would sell its US and select territory rights for Zembrace Symtouch (sumatriptan injection) 3 mg and Tosymra (sumatriptan nasal spray) 10 mg, (formerly referred to as ‘DFN-02’), which are commercialized through its wholly owned subsidiary, Promius Pharma, LLC.

Under the agreement, the company will receive $70 million as upfront consideration, $40.5 million in near term milestones and additional financial considerations including, existing contractual obligation and inventory. Subsequently, the company will receive sales based royalties on a quarterly basis.

Dr. Reddy’s Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.

 

14-Jun-2019

Dr. Lal PathLabs’ arm to acquire 70% stake in ‘New Company to be incorporated’

Dr. Lal PathLabs’ wholly owned subsidiary — Pathlabs Unifiers has received approval for signing a binding term sheet for acquisition of 70% equity stake of Central Lab, Indore and Vinita Kothari (Proprietorship Concern) through a ‘New Company to be incorporated’.

The Company’s arm will acquire stake with an objective for strengthening its business presence in the state of Madhya Pradesh.

Dr. Lal Pathlabs is recognized as a centre of innovation and a premier clinical pathology laboratory. It is the largest and most respected diagnostic service provider in the country.

 

14-Jun-2019

Union Bank of India to sell stake of NPCI for Rs 74 crore

Union Bank of India has executed an agreement for sale of 10 lakh equity shares of Rs 100 per share of National Payments Corporation of India (NPCI) at Rs 740 per share resulting in cash consideration of Rs 74 crore, subject to requisite approvals and charter documents of the NPCI.

Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories – Deposits, Loans and Advances, and Remittances & Collections. Its segments include treasury operations, corporate & wholesale banking, retail banking and other banking operations.

 

14-Jun-2019

Indian Wood Products launches retail packets of spices in New Delhi, Uttarakhand

The Indian Wood Products Company has launched retail packets of spices in the Union Territory of Delhi and the state of Uttarakhand. The products are introduced under the Brand Name of ‘IWP’ on June 14, 2019.

The Indian Wood Products Company is engaged in the manufacture of Katha, cutch, and catechins in India.

 

14-Jun-2019

IndiGo to launch 12 new direct daily flights on Buddhist circuit from August

Interglobe Aviation (IndiGo) is all set to launch 12 new direct daily flights on the Buddhist circuit, connecting Kolkata, Gaya and Varanasi effectively from August 8. The company will commence flight operations on Kolkata – Gaya, Kolkata Patna, Kolkata Varanasi and Gaya – Varanasi routes along with additional frequency on Kolkata – Varanasi route. Bookings on these routes are opened from June 13, 2019.

InterGlobe Aviation provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline.

 

14-Jun-2019

Intellect Design Arena divests its arm for Rs 20.50 crore

Intellect Design Arena’s subsidiary — SFL Properties has been divested to a third party for a sale consideration of Rs 20.50 crore at arm length basis.

Intellect Design Arena is a digital technology product solutions provider to the Banking and Insurance industry, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury & Markets (iRTM) and Insurance (Intellect SEEC).

 

14-Jun-2019

Smartlink Holdings to buyback 24.78% stake for Rs 54.60 crore

Smartlink Holdings has received approval to buyback own fully paid equity shares of Rs 2 each not exceeding 42 lakh equity shares approximately being 24.78% of the total paid-up equity capital of the company at a price not exceeding Rs 130 per equity share, for an aggregate amount not exceeding Rs 54.60 crore. The Board of Directors of the Company at its meeting held on June 14, 2019 has approved the same.

Smartlink Holdings is a networking company. The company’s business outline includes DIGISOL – Active Networking Solutions, DIGILITE ‘ Motherboards and More, Electronic Manufacturing Services, DIGICARE – Service & Support etc.

 

14-Jun-2019

Hindalco Industries wins most coveted Leadership award for sustainability: Report

Hindalco Industries has reportedly received the most coveted Leadership award for sustainability recently at the Frost & Sullivan and TERI Sustainability 4.0 Awards 2019 held at Mumbai.

Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.

 

14-Jun-2019

Maruti Suzuki introduces safety compliant Swift, BS-VI compliant

Maruti Suzuki has introduced Swift (both Petrol and Diesel) in compliance with ‘AIS-145 Safety Norms’. The company has also introduced Swift Petrol with BS-VI compliant. This might increase price in all variants of Swift. But it depends upon the features introduced across variants.  The ex-showroom price in Delhi and NCR region shall vary between Rs 5,14,000 to Rs 8,89,000.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

14-Jun-2019

Maruti Suzuki inaugurates 5th Water ATM facility in Gujarat

Maruti Suzuki India has inaugurated its 5th Water ATM facility in Gujarat. Set up in Naviyani village in Surendra Nagar district, the Water ATM will benefit over 2800 community members. Fresh, clean water will be available at a nominal rate of 35 paisa per litre.

Built on a self-sustaining model the facility has a capacity to generate over 1000 litres of water per hour. For 100% adherence of quality standards, the Water ATM is fitted with a Water Quality display screen. The Water Quality display screen shows the purity of water in terms of TDS (Total Dissolved Solids), temperature and ph level for the users.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

14-Jun-2019

Laurus Labs completes USFDA inspection of API facilities in Visakhapatnam

Laurus Labs has successfully completed the US Food and Drug Administration (USFDA) inspection of its API facilities in Units 1 & 3 at Parawada, Visakhapatnam, Andhra Pradesh, with two observations which are procedural in nature. This is a regular surveillance audit by USFDA, and no data integrity issues were observed in the inspection.

Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.

 

14-Jun-2019

Karda Constructions bags contract for construction project worth Rs 38.84 crore

Karda Constructions has secured contract for construction project worth Rs 38.84 crore. The contract is for construction of 115 Police quarters, head quarter, City Police Station cum S.D.P.O. office for S.P. Buldhana in the state of Maharashtra. It includes all infrastructure amenities from Maharashtra State Police Housing and Welfare Corporation for 24 months.

Karda Constructions is primarily in construction of residential projects and recently they have been innovative in their approach to push the affordable housing segment by coming up with schemes such as ‘Capsule Homes’.

 

14-Jun-2019

Karda Constructions gets award from Times Realty

Karda Constructions has received an award for the ‘iconic Budget Homes for Capsule Homes’ at the event ‘Times Realty Icons Awards 2019 Navi Mumbai & Thane Beyond’ hosted by the Times Realty, at Sofitel Mumbai, BKC on June 11, 2019.

Karda Constructions is primarily in construction of residential projects and recently they have been innovative in their approach to push the affordable housing segment by coming up with schemes such as ‘Capsule Homes’.

 

14-Jun-2019

USFDA completes inspection at Laurus Labs’ API facilities in Visakhapatnam

US Food and Drug Administration (USFDA) has completed inspection at Laurus Labs’ API facilities in Units 1 & 3 at Parawada, Visakhapatnam, Andhra Pradesh, with two observations which are procedural in nature. This is a regular surveillance audit by USFDA, and no data integrity issues were observed in the inspection.

Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.

 

14-Jun-2019

Trent planning to raise funds via various means

Trent is planning for raising funds through issue of equity shares or other securities including through rights issue or qualified institutions placement or debt issue or a preferential issue or any other permissible mode. The Board of Directors of the Company at its meeting to be held on June 18, 2019 to consider the same.

Trent is part of the Tata Group and is engaged in business of retailing.

 

14-Jun-2019

Wipro to open Digital & Technology Center in Minneapolis

Wipro will be opening a new center of excellence for clients in the Minneapolis-St. Paul region in USA. The company and client teams will collaborate on digital solutions, with a focus on financial technology, and will add 100 local jobs over the next two years to its already substantial presence in the Twin Cities.

As a No-Shore office, the Minneapolis center will serve as a hub for technology and resources locally and globally, ensuring development quality and delivery across Wipro and client teams around the clock. The company specifically plans to leverage local Minnesota talent in addition to providing opportunities for recent university graduates and experts keen on developing their technology-related skills.

Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

 

14-Jun-2019

Biocon receives EU GMP Certification for Biologics facilities in Bengaluru

Biocon has received the Certificate of GMP compliance from EMA for its Biologics Drug Product (DP) as well as Drug Substance (DS) facilities at Biocon Park, Bengaluru. These facilities, used for the manufacture of company’s portfolio of biosimilars, were inspected by the European agency in March 2019.

This was a surveillance inspection of company’s existing DP and OS facilities and a pre-approval inspection of its additional DP manufacturing line. This certification will enable company to continue addressing the growing needs of patients in the EU markets and enhance access to its high quality biosimilars.

Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient’s worldwide.

 

14-Jun-2019

Tech Mahindra wins ‘Microsoft Partner of the Year Award 2019’

Tech Mahindra has been named a winner in the 2019 Microsoft Partner of the Year Award. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and for implementation of customer solutions based on Microsoft technology.

The awards were presented in several categories, with winners chosen from a set of more than 2,900 entrants from 115 countries worldwide.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.

 

14-Jun-2019

Telangana govt to buy 2000 MW additional power from NTPC

The Telangana government has sought 2000 MW additional power from NTPC to meet the growing power demand in the state, in view of the upcoming Kaleshwaram lift irrigation project. The mega project, a brainchild of KCR, is aimed at making water available for irrigation, industries and drinking to 70 per cent of the districts in the state thereby contributing to the overall development of Telangana.

NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.

 

14-Jun-2019

Hexaware Technologies acquires Mobiquity

Hexaware Technologies has acquired Mobiquity Inc. for a total consideration of around $182 million. Mobiquity creates awesome digital products for some of the most well-known brands in the world, such as Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka.

Mobiquity is one of the largest independent customer experience consulting firms that specializes in creating frictionless multi-channel digital experiences using cloud technologies. They are one of the very few Digital Customer Experience Consulting Partners for AWS and are experts at leveraging some of the most sophisticated capabilities of AWS.

Hexaware Technologies is a global provider of disruptive IT & IT-enabled services, complex technology solutions and automation-led Business Process services.

 

14-Jun-2019

Adani Green Energy raises Rs 402 crore through offer for sale

Adani Green Energy has raised around Rs 402 crore through sale of 9.35 crore shares by promoters for maintaining minimum public shareholding norms. Under the norms, at least 25 per cent of the equity should be held by the public. Therefore, the company came up with an offer for sale (OFS) to offload equity shares. The floor price for OFS was Rs 43 per equity share.

Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.

 

14-Jun-2019

Maruti Suzuki launches WagonR with BS-VI compliant

Maruti Suzuki India has launched WagonR (1.2 Ltr) with BS-VI compliant. This resulted in price increase in all variants of WagonR (1.2 Litre). Depending on features introduced across variants, the Ex-showroom price in Delhi and NCR region shall vary from Rs 5, 10,000 to Rs 5,91,000 and in rest of India from Rs 5, 15,000 to Rs 5,96,000.

Moreover, the company is also revising the prices for all variants in WagonR (1.0 Ltr). The revised Ex-showroom price in Delhi and NCR region shall vary from Rs 4,34,000 to Rs 5,33,000 and in rest of India from Rs 4,39,000 to Rs.5,38,000. This shall be with effect from June 14, 2019.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

14-Jun-2019

Maruti Suzuki introduces CNG variant in New Alto

Maruti Suzuki India has introduced CNG variant in New Alto. The New ALTO now comes with ‘CNG variants’ Lxi and Lxi (0). The Ex-showroom price in Delhi and NCR region for Lxi and Lxi (O) launched in New Alto CNG is Rs 4,10,570 and Rs 4,14,190 respectively.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

14-Jun-2019

Bajaj Finance collaborates with MobiKwik

Bajaj Finance, the lending arm of Bajaj Finserv has collaborated with MobiKwik to take the Bajaj Finserv Wallet to over 2 million online and offline MobiKwik merchant network stores. Apart from the power packed integration, Bajaj Finserv has also taken the factors of functional innovation and customer convenience a notch ahead by facilitating the option of linking the Bajaj EMI Network Card with the Bajaj Finserv Wallet.

This move makes the MobiKwik empowered Bajaj Finserv Wallet, India’s first integrated Debit & Credit wallet that not only enables fastest online payments and recharges but also offers instant loans backed by No Cost EMI’s.

Bajaj Finance, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country.

 

14-Jun-2019

NMDC resumes mining operations in Chhattisgarh

NMDC has resumed mining operations at both Bailadila Mining Complexes ie Kirandul and Bacheli a week after they were affected by tribal unrest. The miner suspended production at Bailadilla Complex consisting of Bacheli and Kirandul mining blocks in Chhattisgarh following the agitation by tribal groups against the iron ore mining on hills in the deposit no.13.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

 

14-Jun-2019

EID Parry reports 0.26 LMT sugar sales in May

EID Parry (India) has sold 0.26 LMT sugar (Domestic and Export) and 95 LL Alcohol in May 2019. Besides, the company’s Alcohol Production, Power Generation and Power Export stood at 62 LL, 50 LU and 17 LU, respectively in the month of May.

EID Parry (India) is a significant player in Sugar with interests in promising areas of Bio Pesticides and Nutraceuticals. The company also has a significant presence in Farm Inputs business through its subsidiary, Coromandel International.

 

14-Jun-2019

CEAT enters into agreement with E-Fleet Systems

CEAT has entered into Share Subscription and Shareholders’ agreement with E-Fleet Systems for making investment of not exceeding Rs 4 crore in E-Fleet. The company is investing in the business of E-Fleet to develop a stronger relationship with E-Fleet through which it can offer its application to its fleet customers who are more and more looking for a comprehensive technology solution to optimize their businesses.

CEAT is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.

 

14-Jun-2019

HDFC to sell 4.2 percent stake in Gruh Finance

Housing Development Finance Corporation (HDFC) is planning to offload 4.2 percent stake in Gruh Finance. This offloading is to comply with a requirement by the Reserve Bank of India (RBI) to facilitate the latter’s merger with Bandhan Bank.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

 

14-Jun-2019

SRG Housing Finance receives refinance assistance from National Housing Bank

SRG Housing Finance has received refinance assistance from National Housing Bank of Rs 5 crore under refinance scheme. The Company has accepted the terms and conditions of the sanction letter.

SRG Housing Finance is a housing finance company. The company is engaged in providing home loans for construction, additions, alterations, and repair and renovation purpose.

 

13-Jun-2019

Infosys’ research arm unveils global research on cloud adoption in enterprises

Infosys’ research arm — Infosys Knowledge Institute (IKI) has unveiled a global research on cloud adoption in enterprises. The research titled, ‘Navigate Your Digital Transformation with Cloud’ reveals how enterprises are adopting cloud programs and identifying current and future cloud initiatives, both from strategic and implementation perspectives.

For this research Infosys surveyed 876 executives representing both technology and business functions from organizations with over $1 billion in revenues across US, Europe, Australia and New Zealand (ANZ). The survey also highlighted that business leadership (50 percent) plays a significant role in defining key business outcomes from cloud transformation programs. IT leadership, on the other hand, is actively involved in conceiving technology design & strategy, vendor evaluation & selection, and to oversee cloud transformation programs.

Infosys is a global leader in technology services and consulting. The company enables clients in 45 countries to create and execute strategies for their digital transformation.

 

13-Jun-2019

Wipro wins ‘2018 Citrix cloud partner of the year’ award

Wipro has been recognized with the ‘2018 Citrix Cloud Partner of the Year’ award for India and the Asia Pacific & Japan (APJ) region. The company has received the award for its exemplary contributions towards enabling customers determine their cloud journey in the area of digital workspace.

The company’s global experience in delivering end-to-end hybrid and multi-cloud solutions complements the Citrix technology portfolio. The company and Citrix work together to deliver an end-to-end, standardized and integrated portfolio of digital workspace solutions that offer clients a superior user experience, enhanced security and the freedom of choice in an app-centric, mobile-first, multi and hybrid cloud world.

The company has built innovative solutions using Citrix Cloud services to deliver Workspace-as-a-Service, addressing both virtual and non-virtual workloads, mobility, network delivery and file sharing solutions for enterprises.

Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

 

13-Jun-2019

Mishra Dhatu Nigam secures order worth Rs 197 crore

Mishra Dhatu Nigam has secured one order worth about Rs 197 crore. The cumulative order book position of the company as on date is about Rs 1900 crore.

Mishra Dhatu Nigam is the prime specialized metals and metal alloys manufacturing facility in India, located at Hyderabad, Andhra Pradesh.

 

13-Jun-2019

Federal Bank gets nod to raise funds via various means

Federal Bank has received approval for fund raising by way of issuance of debt securities including but not limited to Non-Convertible Debentures (NCDs), Tier II bonds, Long Term Bonds (Infrastructure & Affordable Housing), Masala Bonds, Green bonds or such other debt securities as may be permitted by RBI from time to time, in Indian Currency, in domestic market and / or overseas market. The Board of Directors of the Bank at its meeting held on June 13, 2019 has approved the same.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.

 

13-Jun-2019

Adani Australia gets final environmental approval for Carmichael mine

Adani Australia has received its final environmental approval needed to begin work on its Carmichael mine in Central Queensland. These preparatory actions will enable company to then start construction activities including fencing, bridge and road upgrades, water management and civil earthworks on the mine site.

The level of construction activity will then steadily increase over the coming weeks. The project will deliver 1,500 direct and 6,750 indirect jobs during ramp up and construction, with Rockhampton and Townsville the primary hubs for employment.

Adani Enterprises is an infrastructure company. The company is engaged in coal trading, coal mining, oil and gas exploration, ports, multimodal logistics, power generation and transmission, and gas distribution.

 

13-Jun-2019

Vanguard Funds offloads 24.16 lakh shares in KPIT Technologies

Vanguard Funds has offloaded 24.16 lakh shares in KPIT Technologies at Rs 98 per share on BSE on June 12, 2019.

KPIT Technologies is a global technology company focused on automotive engineering and mobility solutions. Leveraging the company’s two decades of experience in automotive engineering, KPIT is building engineering solutions and products to create safe, smart, and sustainable mobility in India and other developing countries.

 

13-Jun-2019

Tata Sponge Iron to raise Rs 1,650 crore via Rights Issue

Tata Sponge Iron has received approval for issuance of 3.30 crore equity shares of face value of Rs 10 each, on a rights basis, not exceeding an amount of Rs 1,650 crore, in ratio of 15:7 i.e. 15 equity shares for every 7 equity shares held by eligible equity shareholders of the company as on the record i.e. June 25, 2019. The Board of Directors of the Company at its meeting held on June 13, 2019 has approved the same.

Tata Sponge Iron is engaged in business of manufacturing high-grade sponge iron that is consistent quality. The company also in the business segment of Power, Sponge Iron.

 

13-Jun-2019

Jain Irrigation denies debt obligations default

Jain Irrigation Systems has asserted that it has not defaulted any of its debt obligations. Moreover, the company is confident of executing its plan to bring down its debt by Rs 2,000 crore through corporate action.

The company has a debt equity ratio of 1:1.1 and networth of Rs 4,561 crore including Compulsory Convertible Debenture (CCD).

Jain Irrigation Systems is early pioneer for IOT in the agriculture sector and is leading efforts to create global solutions with precision agriculture.

 

13-Jun-2019

Bajaj Auto enters into partnership with Uber

Bajaj Auto has entered into partnership with taxi-hailing service platform Uber to launch its new quadricycle, Bajaj Qute on UberXS for urban commuting. UberXS, a brand new category in the cab-hailing services platform, will initially offer Bajaj Qute exclusively in Bengaluru and will be seen on the app from June 13. The service will be available in Indiranagar, Koramangala, HSR Layout and parts of the outer ring road to begin with. UberXS will be priced in between UberGo and UberAuto.

Launched in both petrol and CNG variant, Qute, weighing about 450 kg, is powered by a 216 cc four-valve water-cooled DTSi engine with closed loop fuel injection system resulting in higher fuel efficiency of 35 kmpl (petrol) and 43 km/kg (CNG).

Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.

 

13-Jun-2019

CX Securities divests majority stake in Natco Pharma

CX Securities has divested majority of its investment in Natco Pharma, over a period of time, by selling the equity shares in the open market through the stock exchanges. The entity had invested in the Company by acquiring 17 lakh equity shares of Rs 10 each, which were allotted on preferential basis on November 29, 2013.

Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.

 

13-Jun-2019

ITC launches new super-premium luxury hotel in Kolkata

ITC has launched its new super-premium luxury hotel in Kolkata-the ITC Royal Bengal. The 456 keys ITC Royal Bengal is ITC Hotel’s 14th Luxury Collection hotel in India and is a befitting tribute to the timeless traditions and royal heritage of Bengal, which has been ITC’s headquarters for over a 100 years.

 

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.

 

13-Jun-2019

USFDA completes inspection of Wockhardt’s Bioequivalence Centre

US Food and Drug Administration (USFDA) has carried out inspection of Wockhardt’s Bioequivalence Centre located at R&D Centre in Aurangabad from June 10 to 12 2019. During the inspection Bioanalytical and Quality systems of Bioequivalence studies of Tamsulosin 0.4mg capsules and Metoprolol ER tablets were audited.

At the end of inspection, there was nil observation (i.e. zero 483 observation), signifying that best practices were followed, in compliance to regulations. This outcome would lead approvals of ANDAs in pipeline for which Bioequivalence studies are being or will be done in the said centre.

Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.

 

13-Jun-2019

NSE to remove Jet Airways from daily trading of F&O by June end

The National Stock Exchange of India (NSE) will remove Jet Airways from daily trading of futures and options with effect from June 28. The reason cited by the NSE is the company’s failure to respond to queries about persisting rumours in the market.

Jet Airways (India) is India’s premier international airline, which operates flights to India and overseas. The company’s robust domestic India network spans the length and breadth of the country covering metro cities, state capitals and emerging destinations.

 

13-Jun-2019

DHFL’s promoters in talks with PE firms

Promoters of debt-ridden mortgage lender DHFL are in talks with private equity (PE) firms and are expecting to garner $1 billion (about Rs 6,900 crore) by selling nearly 50 percent of their holdings. The Wadhawan family, the promoters of the company, currently holds close to 40 percent stake in the company. The sale proceed will enable the company to substantially reduce its debt-to-equity ratio and restart the business to its full potential.

DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.

 

13-Jun-2019

TCS launches talent program in Europe

Tata Consultancy Services (TCS) has come up with the pan-European launch of Grow@TCS, a talent program to help graduate trainees get the most out of their new careers in technology.

After the successful start of Grow@TCS in Germany in 2017, the program was introduced in the Netherlands and Hungary in 2018, and is now expanding Europe-wide. The training program is designed to help trainees gain insights into IT consultancy career paths.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

 

13-Jun-2019

HCL Technologies to roll out ‘Tech Bee’ programme

HCL Technologies is all set to roll out ‘Tech Bee’, a company initiative under which it trains and hires students who have completed Plus Two, across several states.

‘Tech Bee’, which was taken up two years ago in Uttar Pradesh and Tamil Nadu yielded good results. This is the first time the company is actually going into many states to assess the quality and the aspirations of the students.

HCL Technologies is a leading global IT services company that helps global enterprises re- imagine and transform their businesses through digital technology transformation.

 

13-Jun-2019

Cords Cable Industries gets registered as approved vendor for RDSO

Cords Cable Industries has received registration for inclusion in the ‘List of RDSO Vendors for Developmental Orders’ from Research Designs & Standards Organisation (RDSO) (Government of India – Ministry of Railways).

This approval enables the company to offer Underground Railway Jelly Filled Quad Cable for Signalling & Telecom Installations to the Indian Railways and various projects where this approval is mandated including the Dedicated Freight Corridors, and various Metro-Rail projects.

Cords Cable Industries is in the business of providing cost-effective and quality solutions for various electrical connectivity requirements.

 

13-Jun-2019

IndiGo to start daily flights from Ahmedabad to Bagdogra, Guwahati

Interglobe Aviation (IndiGo) will start daily non-stop flights from Ahmedabad to Guwahati and Bagdogra from July 5, as part of its endeavour to strengthen domestic connectivity.

The Ahmedabad-Bagdogra flight would depart daily at 9.40 am from Ahmedabad and arrive at Bagdogra at 12.10 pm. The return flight would depart from Bagdogra at 12.50 pm and would land in Ahmedabad at 3.30 pm daily.

InterGlobe Aviation provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline.

 

13-Jun-2019

Indian Bank aims strong growth in FY20: Report

Indian Bank is reportedly aiming strong growth in the current financial year with focus on profitability. The prime focus of the Bank this year will be on increasing the current and savings deposits (CASA) and fee income, accelerating recovery in respect of impaired assets and containing the level of non-performing assets (NPA).

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

 

13-Jun-2019

Blue Star aims revenue of Rs 120 crore in FY20 from water purifiers business

Blue Star has set target revenue of Rs 120 crore from the water purifier business in this financial year (FY20). The company, which sold 70,000 units of water purifiers since 2016, also eyeing to retail 1.20 lakh units.

The company is also aiming to surpass the marketshare of five percent in this vertical during this financial year. The company, in 2019-20, would generate jobs for around 500 people which include recruiting around 200-250 people for its new manufacturing facility being set up in Wada, Maharashtra.

Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers.

 

13-Jun-2019

Sharda Motors Industries’ JV partner purchases 50% stake in ETPL

Sharda Motors Industries’ Joint Venture (JV) partner — Eberspaecher Exhaust Technology International GmbH (EET) has bought 50% share i.e. 5,000 shares of Rs 10 each in Exhaust Technology (ETPL), accordingly the ETPL becomes the JV Company of EET and Sharda Motor Industries.

Earlier, the company had purchased its 50% share i.e. 5,000 shares of Rs 10 each in the proposed JV Company i.e. ETPL.

Sharda Motor Industries was incorporated in 1986. It manufactures automotive components and metal parts, exhaust system components, fabric automotive upholstry products.

 

13-Jun-2019

Edelweiss Financial Services’ arm, Bank of Baroda sign agreement to form strategic partnership

Edelweiss Financial Services’ subsidiary — ECL Finance and Bank of Baroda, India’s second largest public sector bank, have signed an agreement to form a strategic partnership to explore Co-lending / Co-Origination opportunities.

With this partnership, ECL Finance and Bank of Baroda will jointly offer loans and expertise for the growing needs of MSME and self-employed as well as priority sector groups. Under the arrangement, both partners can widen their respective markets and offer timely delivery of credit to customers at a significantly lower cost.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments – agency business and holding company activities.

 

13-Jun-2019

Abbott unveils sensor enabled HD grid mapping catheter

Abbott has unveiled sensor enabled HD grid mapping catheter, a device that can be inserted in the body to treat diseases or perform surgical procedures, in India.

The company has launched the product after receiving clearance from the US Food and Drug Administration (USFDA) last year.

Abbott India is healthcare company that discovers, develops, manufactures and markets innovative products and services.

 

13-Jun-2019

Maithan Alloys emerges as H1 Bidder in auction of Impex Metal & Ferro Alloys

Maithan Alloys has participated in the auction of Impex Metal & Ferro Alloys (under liquidation) as a going concern. The Liquidator officer has intimated the company that its bid has been ranked as the highest bid and has declared the company as H1 BIDDER.

The necessary approval of National Company Law Tribunal in this regard is awaited.

Maithan Alloys is a holding company. The company is engaged in the business of manufacturing and exporting of all three bulk Ferro alloys, including Ferro Silicon, Ferro Manganese and Silico Manganese, and has a captive power plant.

 

13-Jun-2019

NTPC to incorporate a JV Company with EDMC

NTPC has signed a joint venture (JV) agreement with East Delhi Municipal Corporation (EDMC) to incorporate a Joint Venture Company (JVC) between the company and EDMC with equity participation of 74:26, respectively.

The aforesaid JVC shall be incorporated only after obtaining necessary approvals of the Government. The proposed JVC is to develop & operate state of art/modern integrated waste management & energy generation facility in joint venture using municipal solid waste generated in EDMC.

NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.

 

13-Jun-2019

BSE’s arm launches exclusive platform for trading in green bonds

Bombay Stock Exchange’s (BSE) international arm — India International Exchange (INX) has launched an exclusive platform for trading in green bonds. The platform – GSM (Global Securities Market) Green has gone live on June 12, 2019. INX has unveiled its exclusive green listing and trading platform simultaneous with issuance and listing of $500 million green bonds of three subsidiaries of Adani Green Energy.

India INX’s GSM is India’s first debt listing platform that allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

BSE provides an efficient and transparent market for trading in equity, debt instruments, derivatives, mutual funds. It also has a platform for trading in equities of small-and-medium enterprises (SME).

 

13-Jun-2019

Siemens supplies propulsion system to Indian Railways

Siemens is supplying indigenously-made propulsion system to Indian Railways, which is upgrading its electric locomotives. The Indian Railways is upgrading its electric locomotives from 6,000 HP to 9,000 HP as part of its rail electrification initiative.

These locomotives will boost the haulage capacity of Indian Railways by around 50 per cent, thereby improving average speed and utilisation of rolling stock assets. The advanced technology aims to save traction energy cost, thereby reducing fuel expenses and carbon emissions.

Siemens is a technology powerhouse that has stood for engineering excellence, innovation, quality and reliability. The company focuses on the areas of electrification, automation and digitalization.

 

13-Jun-2019

NMDC halts iron ore production at all mines except Kumaraswamy Mines

NMDC has halted iron ore production at all its mines except Kumaraswamy Mines in Karnataka.

Barring Kumaraswamy Mines in Karnataka, production of iron ore by NMDC came to a standstill as the company halted production at Bailadilla Range in Dantewada in Chhattisgarh also due to protest by tribals.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

 

13-Jun-2019

DHFL makes payment of interest worth Rs 5.88 crore of NCDs

Dewan Housing Finance Corporation (DHFL) has made payment of interest amount of Rs 5.88 crore in respect of the Non-Convertible Debentures (NCDs) issued on private placement basis.

DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.

 

13-Jun-2019

PDS Multinational Fashions incorporates subsidiary company

PDS Multinational Fashions has incorporated ‘Technocian Fashions’ a subsidiary company with shareholding of 55% of Issued and Paid-up equity share capital. The Company has subscribed 55% of the Paid-up Share Capital i.e. 27,500 equity shares of Rs 10 each and it will continue to maintain the shareholding of 55% of the total issued and paid-up share capital of Technocian Fashions.

PDS Multinational Fashions, through its subsidiaries, designs, develops, sources, manufactures, and distributes various readymade garments and other consumer products in India and internationally.

 

13-Jun-2019

IDBI Bank ties up with Max Bupa

IDBI Bank has partnered with Max Bupa, a standalone health insurer (SAHI), by signing a Bancassurance corporate agency agreement. It is the first time that IDBI Bank has been on-boarded as a corporate agent for a SAHI partner under open architecture.

As part of the tie-up, Max Bupa will offer its comprehensive health insurance offerings to the diverse customer base of IDBI Bank across the country.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

 

13-Jun-2019

TCS to implement RBI’s CIMS for Rs 310 crore

Tata Consultancy Services (TCS) will implement Reserve Bank’s centralised information and management system (CIMS) for seamless data collection and validations at a cost of Rs 310.52 crore.

The project has to be completed within a year of the commencement of the contract with the RBI. The RBI had invited of expression of interest (EOI) in July 2018 for identification of solution provider for implementation of CIMS by overhauling the data warehouse (DW) of the apex bank.

The CIMS will comprise of DW and Data Lake (DL) which would include, seamless data collection from regulated entities by creating system-to-system interface; system driven data validation and data review; flexible and scalable data repository and providing data dissemination platform. The CIMS would also include centralised analytics platform to facilitate creation of RBI Data Sciences Lab.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

 

13-Jun-2019

HCL Technologies features as leader in Forrester’s inaugural Global IoT Services Wave

HCL Technologies (HCL) has been rated a Leader by Forrester in their inaugural ‘Global IoT Services Wave for Connected Business Operations, Q4 2018’. In this first report by Forrester on assessment of the state of global IoT Services for connected business operations, HCL is cited as one of the five leaders from among 14 of the largest players evaluated.

With this ranking, the company has now been rated a leader in all the IoT assessments done by leading analyst firms globally like Forrester, DC, Everest, Zinnov, SC and HFS.

HCL Technologies is a leading global IT services company that helps global enterprises re- imagine and transform their businesses through digital technology transformation.

 

13-Jun-2019

ECL Finance partners with Bank of Baroda

Bank of Baroda and ECL Finance, the flagship non-banking financial company of Edelweiss Group, have signed an agreement to form a strategic partnership to explore co-lending opportunities.

Both entities will jointly offer loans and expertise for the growing needs of micro, small and medium enterprises besides self-employed as well as priority sector groups.

Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.

 

13-Jun-2019

V-Mart Retail opens new store in Uttar Pradesh

V-Mart Retail has opened a new store in the state of Uttar Pradesh. This takes the total number of stores to 225 Stores in 177 Cities across 17 states and total tally of Uttar Pradesh is 88 stores.

V-Mart Retail is one of the pioneers in setting up stores across various small Indian towns and cities. The company primarily operates in Tier-II and Tier-III cities, with a chain of ‘value retail’ departmental stores offering apparels, general merchandise and kirana, catering to the entire family.

 

13-Jun-2019

Greenply Industries signs agreement with Nemani Panels

Greenply Industries has entered into an agreement, for investment of Rs 1.80 crore i.e. 30% in the equity share capital of Nemani Panels, a newly incorporated company for setting-up a manufacturing unit of Plywood and allied products at Bareilly, promoted by Bareilly Plyboards (an existing company manufacturing and selling Plywood and allied products).

Greenply Industries is engaged in manufacturing of plywood, laminates, decorative veneers, particle boards and prelam particle boards/MDF.

 

13-Jun-2019

Apollo Hospitals joins hands with Abbott: Report

Apollo Hospitals Enterprise has reportedly joined hands with Abbott to create a cardiac registry of sorts.

These two companies will collect heart health data of Apollo patients including troponin levels measured using Abbott’s blood test. The data will be used to map risk factors so patients could be alerted to make lifestyle changes and avert incidents such as a heart attack.

Apollo Hospitals Enterprise owns and operates chain of multi-specialty hospitals. It offers the services in the area of cardiology, cardiothoracic, orthopedics and joint replacement, spine surgery, oncology, etc.

 

13-Jun-2019

Wipro joins hands with Moogsoft to deliver next-gen AIOps solutions

Wipro and Moogsoft, a pioneer and leading provider of artificial intelligence, for IT operations (AIOps), have entered into partnership. The company will leverage Moogsoft’s industry-leading platform to deliver next-generation artificial intelligence for IT operations (AIOps) solutions for its customers. Wipro HOLMES, Wipro’s AI and Automation platform, in partnership with Moogsoft, will provide end-to-end capabilities in AIOps transformation.

This partnership will help customers dramatically improve the business availability of IT through unified alert management, root cause analysis, proactive anomaly detection and predictive capabilities. It will enable Wipro to accelerate its customers’ digital transformation journey, and deliver increased business agility, developer productivity, and improved user experience.

Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

 

13-Jun-2019

Tiger Logistics bags ‘Piaggio Vehicles’ project

Tiger Logistics has bagged contract for handling the export logistics for Piaggio Vehicles. Piaggio Vehicles is an Indian Subsidiary of Piaggio & C. S.p.A, Italy who are the pioneers in the manufacturing of Two-Three Wheelers in India. This will strengthen the company position in the Auto Sector and its vision of handling 70% of India’s Auto Exports logistics by 2021.

Tiger Logistics is a leading Third-party logistics player with specialization in International Logistics handling import and export of Cargos and Projects.

 

13-Jun-2019

Hitachi releases latest video campaign with series of ‘Hitachi Air’ short films

Johnson Controls – Hitachi Air Conditioning India has released a series of short films to strengthen their bond with customers, this is in line with the launch of their new global brand look. The whole campaign has been designed keeping in mind the life and preferences of young Indians, showcasing how well the brand understands their lifestyle needs.

Hitachi Air campaign has been designed on a light storytelling format which the viewer instantly identifies with. The no dialogue format wonderfully bringing out the message with just the expressions of the protagonist.

Johnson Controls-Hitachi Air Conditioning is engaged in manufacturing a range of electronic home solutions.The product range of the company includes window ACs, split AC, tower and packaged air conditioners, 2- and 3-door refrigerators &fully automatic machines.

 

13-Jun-2019

APSEZ suspends vessel operations at Tuna, Mundra Port

Adani Ports and Special Economic Zone (APSEZ) has suspended its vessel operations at Tuna and Mundra Port. Further, the company will continue to monitor development at Dahej and Hazira Port.

The suspension of vessel operations is being done in view of an advisory issued by of India Meteorological Department that the cyclone can knock Gujarat with the speed of 110-120 kmph on the morning of June 13, 2019.

APSEZ is part of Adani Group with businesses spanning coal trading, coal mining, oil & gas exploration, ports, multi-modal logistics, power generation & transmission and gas distribution. APSEZ represents a large network of ports with India’s largest Special Economic Zone (SEZ) at Mundra.

 

12-Jun-2019

Gujarat State Fertilizers to restart Ammonia IV & Urea-II Plants at Baroda Unit

Gujarat State Fertilizers and Chemicals (GSFC) is all set to resume the production at Ammonia – IV & Urea-II plants at Baroda Unit, which was temporarily shut down for repairs of Isothermal Shift Reactor top hemispherical head. The anhydrous Ammonia production is expected to start from June 13, 2019.

Ammonia-TV plant would be initially started at lower loads which would be gradually increased. Subsequently, Urea-II plant would also resume on availability of Co2 gas from Ammonia-IV plant.

GSFC is engaged in the manufacturing of fertilizers and industrial products. The company has created more than 24 brands of fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.

 

12-Jun-2019

Posti selects Infosys as key digital transformation technology partner

Infosys has been selected by Finnish postal service Posti as a strategic partner for the digital transformation of its business and IT services. Through this engagement, the company will drive the modernisation of Posti’s IT applications and infrastructure, helping it move to a flexible IT service model. This will also strengthen Posti’s ability to respond to changes in customer needs with agility and provide a seamless customer user experience through a dedicated command centre.

Through the partnership, the company will optimise and modernise Posti’s current IT estate, which entails rationalising its applications and hosting the workloads on a public cloud foundation. This will help Posti reduce costs, enhance efficiencies, and lay the foundation for the organisation’s larger technology-led business transformation along with an end-to-end security operations network. At the same time, the company will help Posti drive technology-led initiatives using the latest digital technologies, including data utilisation, artificial intelligence and robotics.

Infosys is a global leader in technology services and consulting. The company enables clients in 45 countries to create and execute strategies for their digital transformation.

 

12-Jun-2019

Power Finance Corporation raises $1 billion through Reg-S bonds

Power Finance Corporation (PFC) has successfully tapped international market and raised $1 billion through Reg-S bonds in one go. This was the PFC’s first issuance in the international market after successful acquisition of Government of India holding in REC.

The $1 billion Reg-S transaction was executed through two tranches. The 5 year tranche for $400 million at 3.87% at a reoffer spread of 195 bps over 5 year UST and 10 year tranche for $600 million at 4.577% at a reoffer spread of 242.5 bps over 10 year UST.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.

 

12-Jun-2019

IndiGo to launch non-stop flights between Delhi-China: Report

Interglobe Aviation (IndiGo) will reportedly launch non-stop flights between Delhi-China from September 15, 2019 as part of its international route network expansion plans.

The airline will operate daily non-stop flights between Delhi-Chengdu ‘Delhi. This will be the company’s first non-stop service between China and India.

InterGlobe Aviation provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline.

 

12-Jun-2019

Almondz Global Securities signs agreement with DTM Global Holdings

Almondz Global Securities has signed Joint Co-operation Agreement with DTM Global Holdings to identify and define the scope of partnership amongst both parties and to explore future business potential in financial services related areas. After successful evaluation, future course of strategy or definitive agreement will be executed in future.

Almondz Global Securities is one of the leading Investment Banks in India. The company’s main business lines are Corporate Finance, Distribution of Financial Products, Private Clients, Portfolio Management Services, and Equity Broking.  

 

12-Jun-2019

Wipro features as leading Player in Zinnov Zones for Digital Services in Travel & Hospitality 2018

Wipro has been positioned as a leading Player in ‘Zinnov Zones for Digital Services in Travel & Hospitality – 2018’. Zinnov Zones is an annual study that evaluates global service providers on their digital prowess and scalability in the travel and hospitality segments.

The company has been positioned in the ‘Leadership Zone’ by Zinnov across all industry segments- Planning & Booking, Travel, and Hospitality, and service lines- Digital Consulting, Digital Experience & Design, and Data Management & Insights. Zinnov recognized the company’s strong industry positioning in delivering ‘digital-first’ solutions and helping clients provide a hyper personalized experience to their end customers.

Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

 

12-Jun-2019

Sintex Industries defaults repayment of NCDs

Sintex Industries has defaulted in payment of interest/repayment of principal amount on Non-Convertible Debentures (NCDs). The default in payment of principal amount is Rs 85.84 crore and the Interest Amount is Rs 3.03 crore. The gross principal amount on which the default above has occurred is Rs 112.50 crore.

Sintex Industries is one of the most integrated plastic processors in India and an established brand name in plastic industry.

 

12-Jun-2019

Piramal Enterprises gets nod to raise Rs 200 crore

Piramal Enterpriseshas received approval the allotment of 2,000 secured, rated, redeemable Non-Convertible Debentures each having a Face Value of Rs 10,00,000, aggregating to Rs 200 crore on private placement basis. These Non-Convertible Debentures are proposed to be listed on Wholesale Debt Market segment of NSE. The Administrative Committee of the Board of Directors of the Company at its meeting held on June 12, 2019 has approved for the same.

Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.

 

12-Jun-2019

Tata Motors Group’s global wholesales decline by 23% in May

Tata Motors Group’s global wholesales in May 2019, including Jaguar Land Rover, were at 82,374 nos., lower by 23%, over May 2018.

Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in May 2019 were at 31,490 nos., lower by 23%, over May 2018. Global wholesales of all passenger vehicles in May 2019 were at 50,884 nos., lower by 23%, compared to May 2018.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.

 

12-Jun-2019

Parag Milk Foods eyes Rs 160 crore revenue from Sonipat plant in FY20

Parag Milk Foods is targeting up to Rs 160 crore this financial year (FY20) from its manufacturing facility at Sonipat in Haryana that the company acquired from Danone, on better demand for its products in the northern market. The company has earned a revenue of about Rs 70 crore in the FY19 from its Sonipat manufacturing facility in Haryana.

The company has acquired Sonepat plant in April last year and started commercial operations in August to expand its footprint in the north and northeast India.

Parag Milk Foods, established in 1992, is the largest private dairy FMCG company with a pan India presence.

 

12-Jun-2019

Mangalore Chemicals commences production of Ammonia, Urea, ABC

Mangalore Chemicals & Fertilizers has commenced the production of Ammonia, Urea and ABC from June 12, 2019, which was been stopped due to non-availability of water. The company has commenced the production, in view of onset of monsoon and normalisation of water supply.

Mangalore Chemicals & Fertilizers is a Fertilizers Manufacturing company situated in the state of Karnataka, India. The company with its wide range of products that include Urea, Di-Ammonium Phosphate, Muriate of Potash, Granulated Fertilizers, Micronutrients, Soil Conditioners and Specialty Fertilizers, touches and enriches the lives of farmers across Southern India.

 

12-Jun-2019

BEE assigns Grade 1 ESCO accreditation to Tata Power

Bureau of Energy Efficiency (BEE) has assigned Grade 1 ESCO grading rating to Tata Power in recognition of their ESCO (Energy Service Company) business performance. BEE an autonomous body constituted under the Ministry of Power, is responsible for driving policies and strategies for the overall reduction the energy intensity of the India economy.

A Grade 1 rating for energy audit and energy efficiency project implementation business, indicates a ‘Very High’ ability to implement energy saving measures for customers. There this accreditation formally recognizes Tata Power’s ability to conduct detail energy audits and implement projects to improve energy efficiency for all types of energy-intensive businesses that in turn translates into improved financials, productivity and reduced carbon footprint for its customers.

Tata Power Company is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

 

12-Jun-2019

V-Guard Industries launches Big Idea Design and Tech Contest 2019

V-Guard Industries has launched Big Idea Design and Tech Contest 2019. The company’s Big Idea Contest is a stage that allows extraordinary young minds to present their ideas that could transform the world.

The contest witnessed entries from engineering colleges all over India with amazing ideas pouring in, supported by protypes and great design diagrams. And after a rigorous selection process, 13 teams have been shortlisted for the recommendation of a creative and comprehensive design and technology idea for the growth of V-Guard Industries.

V-Guard industries manufactures a range of products namely voltage stabilizers, pumps, electric water heaters, solar water heaters, cables, UPS, ceiling fans, etc.

 

12-Jun-2019

Axis Bank gets over 10 million customers for AI platform ‘Axis Aha!’

Axis Bank in partnership with Active.Ai has launched ‘Axis Aha!’ in early 2018, has seen a surge in usage of its conversational AI platform on their mobile banking app which has over 10 million customers.

As Indian consumers are doing lot more on their mobile phones, the need for easy interactive human-like conversations to make their life simpler has surged. Simple FAQ chatbots are insufficient as consumers want contextual engagement with ability to assist and allow them to make qualified choices.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

 

12-Jun-2019

Music Broadcast to acquire Reliance Broadcast Network

Music Broadcast (MBL) has entered into a definitive binding agreement for the acquisition of Reliance Broadcast Network. The company will acquire 24% of the equity share capital of Reliance Broadcast Network on or before July 31, 2019.

The main objective for acquisition is to expand the company’s foot print Pan India including Multi frequency in major metros and large cities. The combined network will have 79 Stations making it the largest radio network in India with FM foot print of approximately 82% of FM markets.

Music Broadcast operates a network of FM radio channels in India. It broadcasts Hindi and international music in various genres, such as film, non-film, Sufi, ghazals, lounge, current, and retro, as well as various advertising and entertainment solutions.

 

12-Jun-2019

Moody’s places Yes Bank’s ratings under review

Global rating agency Moody’s has placed Yes Bank’s ratings under review for a possible downgrade citing its high exposure to the struggling NBFC and realty sectors. The agency has a ‘Ba1’ rating on the bank, which has a 6.4 percent exposure to NBFCs and housing finance firms and 7 percent to realty companies as of the March 2019 quarter.

Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.

 

12-Jun-2019

Cords Cable Industries gets nod as vendor for government works in Punjab

Cords Cable Industries has received approval as a vendor for government works in the State of Punjab for ‘Aluminium Conductor LT Cables (ISI Marked)’. This approval enables the company to offer CORDS make approved products towards bidding and participating in various Punjab government’s projects including those undertaken through/by PWD Punjab, Greater Mohali Area Development Authority (GMADA), Department of Local Government, Punjab Health System Corporation, Punjab Police Housing Corporation, Punjab Mandi Board, Panchayati Raj Department.

Cords Cable Industries is in the business of providing cost-effective and quality solutions for various electrical connectivity requirements.

 

12-Jun-2019

Blue Star launches 34 new models of water purifiers

Blue Star has launched a premium and differentiated range of residential water purifiers comprising 34 models across various price points with RO, UV, UV LED, RO+UV, and RO+UV+UF technologies including colour variants and select models with Immuno Boost technology.

The range includes nine series called Stella, Prisma, Imperia, Eleanor, Majesto, Genia, Aristo, Eternia, and Pristina with price points varying from Rs 10,900 to Rs 46,900 in the RO and its variants range; and price points from Rs 7,900 to Rs 9,900 in the UV range.

When the company forayed into the business, it was with 13 models in limited price bands. The company has now extended the range in order to have products across various price points.

Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers.

 

12-Jun-2019

Alembic Pharma gets nod to raise Rs 300 crore via NCDs

Alembic Pharmaceuticals’ board has approved the issue of Unsecured Listed Rated Redeemable Non-Convertible Debentures (NCDs) of upto Rs 300 crore on private placement basis in one or more tranches. The Board of directors of the company at its meeting held on June 12, 2019 has approved for the same.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.

 

12-Jun-2019

Wipro features as leader in Gartner’s Magic Quadrant for Managed Workplace Services

Wipro has been positioned as a Leader in Gartner’s Magic Quadrant for Managed Workplace Services, North America. The report authored by Daniel Barros & Mark Ray was published on January 14, 2019.

This Magic Quadrant assessed 21 MWS providers on their ability to execute and completeness of vision. Wipro has been positioned as a ‘Leader’ in this Magic Quadrant for Managed Workplace Services, North America for the third time in a row.

Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

 

12-Jun-2019

Yes Bank offloads 2% stake in Fortis Healthcare

Yes Bank has reduced its stake in Fortis Healthcare by around 2 per cent by selling over 1.51 crore shares of the company in various tranches. The Bank had 8.76 per cent stake in Fortis Healthcare before these transactions. The shares were sold in open market between December 20, 2018 to June 7, 2019. After the sale, the bank now has 6.76 per cent stake in the healthcare chain.

Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.

 

12-Jun-2019

Welspun Enterprises’ arm receives bonus from NHAI for early completion of project

Welspun Enterprises’ wholly owned subsidiary — Welspun Delhi Meerut Expressway has received Rs 27.09 crore as Bonus from National Highways Authority of India (NHAI) for early completion of Delhi-Meerut Expressway Package-1 on June 28, 2019, 332 days ahead of the scheduled completion date.

The Delhi-Meerut Expressway Package-1 was the first Hybrid Annuity Model (HAM) project of NHAI to achieve both Financial Closure as well as Commercial Operation Date (COD). The first annuity for the project was received in January 2019 and the next annuity is expected by July 2019.

Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in Oil & Gas Exploration.

 

12-Jun-2019

Tata Global Beverages to focus more on domestic, select overseas markets

Tata Global Beverages (TGBL) will focus more on the domestic market and select overseas ones, as the company begins consolidating into a diversified consumer products major.

The company expects the completion of the proposed transfer of Tata Chemical’s consumer business to TGBL to take place in the next 12-18 months. Following the transfer, TGBL will have branded edible salt, pulses and spices in its product portfolio.

Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.

 

12-Jun-2019

Tata Power’s arm launches residential solar rooftop campaign

Tata Power Company’s wholly owned subsidiary — Tata Power Solar has launched its pan India residential solar rooftop campaign. The campaign has been flagged-off from the holy-city Tirupati to inspire the residents across the country to implement residential solar rooftop solution.

This campaign intent to cover 100 cities across India and expected to save up to Rs 50,000 per 5kW per year. To support the campaign and create further awareness on the drive, Tata Power Solar is organizing a cycle rally in the city where the local residents will be informed on the benefits of adopting solar energy. Along with this, the initiative has a native connect where the consumers will understand the importance of renewable energy. ‘PledgeForSolar’ inspires the people of India to accept the positive change and move towards the solar energy usage.

Tata Power Company is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

 

12-Jun-2019

Ramco Systems, Standard Chartered win ‘Global Payroll Transformation Project of the Year Award’

Standard Chartered, a global multinational banking and financial services company, headquartered in London, along with its technology partner Ramco Systems, leading Global Payroll & HR software provider, have won Global Payroll Transformation Project of the Year Award 2019, at the Global Payroll Association Awards (GPA Awards), for delivering significant transformation in Payroll management.

The Payroll Transformation Program was envisaged by Standard Chartered where the technology partner (Ramco) along with the Bank will together aim to deliver a strategic platform for Payroll Operational Reporting and Analytics. Ramco’s platform-based approach to Payroll management and modern innovative technologies (ZERO UI-Mail It, Thumb It, Hub It, and Prompt IT) were the key drivers in Standard Chartered choosing Ramco.

Ramco Systems is a fast-growing enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HCM and Global Payroll, ERP and M&E MRO for Aviation.

 

12-Jun-2019

NTPC receives approval for investment in 100 MW Ramagundam Floating Solar PV Project

NTPC has received approval from board for investment in 100 MW Ramagundam Floating Solar PV Project, Phase-I. This project is situated in district Peddapelli in the state of Telangana.

NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.

 

12-Jun-2019

ITC exploring managed hotels in adjacent countries

ITC is looking at managed hotel properties outside the country, as part of its asset-right strategy for this vertical. The company is eyeing such properties in adjacent markets like Bangladesh. This is managing properties of others under the WelcomHotel brand.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.

 

12-Jun-2019

EIH sets up captive solar power plant to meet electricity needs of Gurugram properties

EIH has set up a captive solar power plant to meet electricity needs of its Gurugram properties, The Oberoi and Trident. The captive power plant in Balasar, Haryana will generate 7.5 MW of electricity to meet the energy demands of the two hotels.

Spread over 25 acres, the solar power plant has 27,000 solar panels installed. The Oberoi and the Trident in Gurugram aim at reducing CO2 emissions by 12,344 tons per year.

EIH is engaged in the business of operating and managing luxury hotels, restaurants, management contracts and travel and tours.

 

12-Jun-2019

DHFL makes full payment of pending interest on NCDs

Dewan Housing Finance Corporation (DHFL) has made full payment towards interest payable on Secured Redeemable Non-convertible debentures (NCDs) issued by way of public issue within the cure period of seven working days.

The Company has made interest payments in lieu of Rs 961 crore as committed to its debenture holders. With this tranche, the company confirms full payment and will seek rating upgrades from agencies.

DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.

 

12-Jun-2019

KDDL’s arm shifts Pune store to new location

KDDL’s subsidiary — Ethos has shifted the operations of its store at Unit no. 08, First Floor, Pavilion Mall in Pune to Unit no. 32-B, Ground Floor, Pavilion Mall. The area of the above store is 1694 sq. ft. The aforesaid is a multi – brand store. The total number of stores as on date remains the same i.e. 48 only.

KDDL is a diverse company focusing on luxury Retail Watches and precision Engineering. It has established India’s largest retail chain for premium and luxury watches- Ethos and SUMMIT.

 

12-Jun-2019

HCL Technologies features as leader in Digital Transformation Services by ISG

HCL Technologies has been recognized by Information Services Group (ISG), a leading global technology research and advisory firm, in the ISG Provider Lens Digital Business Transformation Global Report for 2019. The company has been rated for high performance in six categories that will help enterprises succeed in their quest for digital transformation.

ISG commended HCL for its strong, deep in-house knowledge and capabilities in all areas of digital transformation, its access to a wide range of technologies, and its impressive ecosystem of partners, co-invested partners, and acquired companies.

HCL Technologies is a leading global IT services company that helps global enterprises re- imagine and transform their businesses through digital technology transformation.

 

12-Jun-2019

RBI imposes penalty on Yes Bank for violating PPI norms

The Reserve Bank of India (RBI) has imposed a penalty on prepaid payment instrument (PPI) issuer Yes Bank for non-compliance with regulatory norms. A penalty of Rs 11.25 lakh has been imposed on the Bank.

Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.

 

12-Jun-2019

Gujarat Pipavav Port suspends entire Port Operations at Pipavav Port

Gujarat Pipavav Port has suspended entire Port Operations at Pipavav Port, based on the directions of the District Administration as well as Gujarat Maritime Board (the port regulatory authority). The suspension of port operations is being done in view of an advisory of India Metrological Department about a severe Cyclonic Storm which is likely to cross the Gujarat Coast between Porbandar and Mahuva with wind speed of 110-120 km per hour gusting to 135 km per hour during June 13, 2019.

Gujarat Pipavav Port is engaged in providing port handling and marine services for container cargo, bulk cargo, and LPG cargo.

 

12-Jun-2019

Aurionpro Group Company launches new offerings at UITP, Global Public Transport Summit

SC Soft Pte (SC Soft), an Aurionpro group company, based in Singapore, has launched a new generation state of the art transit terminals and software services at the prestigious UITP, Global Public Transport Summit, being held in Stockholm.

This is the biggest event dedicated to the sustainable mobility, covering all urban and regional transport modes across the globe and marks coming together of the international public transport community, mobility decision makers and industry suppliers. SC Soft has successfully showcased its newly developed innovations at this Summit and got acclaims.

Aurionpro Solutions is a publicly traded technology company providing software products and expert level consulting services to an extensive global customer base. The company provides valuable operational and technical experience in helping banks provide new and innovative products to their customers.

 

12-Jun-2019

Trigyn Technologies’ arm secures contract to provide enterprise support services to Baltimore

Trigyn Technologies’ wholly owned subsidiary – Trigyn Technologies, Inc. has been awarded a contract to provide Enterprise Support Staff Services to Baltimore City, Maryland, Baltimore City Office of Information Technology (BCIT). The award is for a period of three years, with two one year options, bringing the potential term to five years.

The award covers 87 Information Technology Positions and 4 Procurement Positions, along with additional positions as specified by the City. This award facilitates the continued expansion of Trigyn’s Public Sector business.

Trigyn Technologies is a public multi-national Information Technology firm providing custom software solutions, Managed Services, Staff Augmentation and consulting services to clients in 16 countries across Asia, North America, Europe and Africa.

 

12-Jun-2019

Reliance Industries, BP sanction third phase of integrated KG D6 development

Reliance Industries (RIL) and BP have sanctioned the MJ project (also known as D55) in Block KG D6, offshore the east coast of India. MJ is the third of three new projects in the Block KG D6 integrated development plan and its approval follows sanctions for the development of ‘R-Series’ deep-water gas field in June 2017 and for the Satellites cluster in April 2018.

Together the three projects are expected to develop a total of about 3 trillion cubic feet (tcf) of discovered gas resources with a total investment of circa Rs 35,000 crore ($5 billion). These projects together, when fully developed, will bring about 1 billion cubic feet a day of new domestic gas onstream, phased over 2020-2022.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

 

12-Jun-2019

South Indian Bank planning to raise funds via debt securities

South Indian Bank is planning to raise funds in Indian / foreign currency by issue of debt securities. The Board of Directors of the bank at its meeting to be held on June 15, 2019 to consider the same.

South Indian Bank is considered one of the most proactive banks in India with a competent tech savvy team of professional at the core of services.

 

11-Jun-2019

Profile: Sudarshan Pharma Industries

Sudarshan Pharma Industries

Sudarshan Pharma Industries was originally incorporated under the Companies Act, 1956 vide certificate of incorporation dated July 23, 2008 issued by the Registrar of Companies, Mumbai. Later in 2016, the name of the company was changed from -Sudarshan Specialty Chemsolve Private Limited to -Sudarshan Pharma Industries Private Limited under the Companies Act, 2013 pursuant to a special resolution passed by its shareholders at the EGM held on November 25, 2016 and vide certificate of incorporation dated December 17, 2016 issued by the Registrar of Companies, Mumbai. Thereafter, the Company was converted in to a public company pursuant to a special resolution passed by its shareholders at the EGM held on December 12, 2016 and consequently name was changed to-Sudarshan Pharma Industries Limited (SPIL) vide fresh certificate of incorporation dated January 15, 2017 issued by Registrar of Companies, Mumbai.

Business area of the company.

The company is engaged in contract manufacturing, outsource & Supply of Generic Pharma formulation and medicines to healthcare institution, Government, NGO and Hospitals. It outsource its manufacturing facility, deal in Import and Exports, indenting and Supply in Specialty chemicals, API & its intermediate. As per the clients need and requirement, it provide order and get them manufactured from various suppliers in India and abroad regularly.

 

11-Jun-2019

IndiGo launches four-day special summer sale

Interglobe Aviation (IndiGo) has launched a four-day special summer sale across its network for the travel period between June 16 and September 28.

Effective June 11, 2019 till June 14, 2019, IndiGo is offering customers all-inclusive fare starting at Rs 999 across domestic and Rs 3,499 across international sectors. This sale is valid for travel period between June 16, 2019 to September 28, 2019.

InterGlobe Aviation provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline.

 

11-Jun-2019

Piramal Enterprises gets nod to raise funds via NCDs

Piramal Enterprises has received an approval for the issue of secured, rated, redeemable Non-Convertible Debentures (NCDs) on private placement basis up to Rs 200 crore each having a face value of Rs 10,00,000, along with an option to retain oversubscription of up to Rs 100 crore, the total issue size aggregating and not exceeding Rs 300 crore. These Non-Convertible Debentures are proposed to be listed on Wholesale Debi Markel segment of NSE.

The Administrative Committee of the Board of Directors at their meeting held on June 11, 2019, approved the same.

Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.

 

11-Jun-2019

Eicher Motors’ JV calls for fiscal measures to spur CV sales

Eicher Motors and Volvo Group’s joint venture (JV) — VE Commercial Vehicles has called for fiscal measures to boost growth in the heavily-taxed auto sector. The JV Company also plans to invest Rs 700 crore this fiscal, a part of which will go into adding capacity etc.

Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.

 

11-Jun-2019

Bharat Dynamics signs contract worth Rs 1187.82 crore

Bharat Dynamics (BDL) has signed a contract worth Rs 1187.82 crore for supply of heavy weight torpedoest. The contract has to be executed in next 42 months.

Bharat Dynamics is engaged in manufacturing of Surface to Air missiles (SAMs), Anti-Tank Guided Missiles (ATGMs), underwater weapons, launchers, countermeasures and test equipment.

 

11-Jun-2019

Regency Investments opens branch office in Telangana

Regency Investments has opened its Branch Office in the State of Telangana having Office under the same name as ‘Regency Investments’ at Flat No 3-4-871/5, 3rd Floor, Barkatpura, Hyderabad, Telangana. The office has been taken on lease by the company.

Regency Investments is a non-banking finance company (NBFC) registered with the RBI.

 

11-Jun-2019

Yasho Industries completes Rs 40 crore expansion plan at Gujarat facility

Yasho Industries has completed Rs 40 crore expansion plan to increase manufacturing capacities by 2,500 tonnes per annum at its facility in Gujarat. The company has completed planned expansion of Rs 40 crore to its rubber chemicals & lube addictive manufacturing capacities. Post-expansion, the total capacity stands at 8,000 tonnes.

Yasho Industries is a manufacture and exporter of speciality and fine chemicals.

 

11-Jun-2019

Tata Global Beverages planning to devise right strategy for branded coffee business in US

Tata Global Beverages is planning to devise the ‘right strategy’ for the company’s branded coffee business in the United States (US), which recorded lower levels of performance compared to the previous year.

The branded coffee market in the US has witnessed consolidation over the past few years and recrafting the Eight O’Clock coffee business in this new environment is critical to its growth and success.

Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.

 

11-Jun-2019

Sakar Healthcare initiates process of business expansion with anti-cancer drugs

Sakar Healthcare has initiated the process of business expansion with anti-cancer (oncology) drugs. The project has been perceived and articulated to get operational by 2021. The market dynamics, encouraging growth opportunity and in-house competency have been the decisive factors to opt for this therapeutic class of drugs.

The team including up-to-date scientists and well experienced subject matter experts has been appointed to give a proper shape to the plans along with suitable inputs from Institute of Chemical Technology (ICT), Mumbai. The plant layout following international regulatory standards and fitting in to the procured land is already in place to initiate the site development and construction of building work. The project feasibility and Techno Economic Viability Study have been duly conducted by Gujarat Industrial and Technical Consultancy Organisation (GITCO).

Sakar Healthcare is an Indian pharmaceutical company engaged in the manufacturing and marketing of its own pharmaceutical formulations for domestic and international markets. The company manufactures and markets pharmaceutical formulations relating to analgesics, antielminthics, anti coagulants, anti malarial, anti spasmodics, antianemics, antibiotics, anti-emetics, anti-histamines, bronchodilators, corticosteroids, cough and cold preparations, multivitamins, etc.

 

11-Jun-2019

Maruti Suzuki’s Music platform releases new song ‘This Heart of Mine’

Maruti Suzuki India’s NEXA Music platform has released its second song ‘This Heart of Mine’ by Nikhil D’Souza. This song resonates well with Nexa customers who are trendy, youthful and tech savvy. The song truly echoes with NEXA’s philosophy to create and inspire.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

11-Jun-2019

Lansforsakringar Bank deploys TCS BaNCS for core banking

Lansforsakringar Bank has successfully deployed Tata Consultancy Services’ (TCS) banking software ‘TCS BaNCS’ for core banking to power the next leg of their digital transformation journey.

To meet the rising expectations of Nordic consumers, create competitive differentiation, and participate in new business opportunities enabled by digital technologies, Lansforsakringar Bank sought to replace its legacy systems with a modern banking and payments solution. It selected TCS BaNCS after a detailed evaluation, for its ability to support the bank’s digital ambitions and future growth.

The new solution enables flexibility in services and pricing, and will help Lansforsakringar Bank launch new and innovative products faster. Its architectural features enable easier integration with third party systems. Moreover, a rich API repository will enable Open Banking and participation in the larger ecosystem.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

 

11-Jun-2019

Havells India unveils range of water purifiers in Lucknow

Havells India has unveiled its impressive array of technologically advanced, best’in’class Alkaline RO water purifiers and Active UV in Lucknow in the state of Uttar Pradesh. The latest range of water purifiers will further strengthen company’s presence in the state in water purifier segment, where it has already made a mark with encouraging sales in a short span.

Havells India is a leading FMEG company (Fast moving electrical goods) with presence across India. Its product range includes Industrial & Domestic Circuit Protection Switchgear, Cables&  Wires, Motors, Fans, Power Capacitors, Luminaires for Domestic, Commercial & Industrial applications, Modular Switches etc.

 

11-Jun-2019

BHEL bags order worth Rs 440 crore from NPCIL

Bharat Heavy Electricals (BHEL) has secured a prestigious order for the erection work of the upcoming 2×1000 MWe Turbine Generator (TG) island Units 3&4 at Kudankulam Nuclear Power Project in Tamil Nadu being set up with foreign cooperation (Russia).

Valued at over Rs 440 crore, the order has been placed on company by Nuclear Power Corporation of India (NPCIL). Significantly, for the same project, BHEL has also emerged as the lowest bidder for erection of the Reactor side equipment.

BHEL is India’s largest engineering and manufacturing company of its kind. It is a power plant equipment manufacturer and operates as an engineering and manufacturing company.

 

11-Jun-2019

TCS features as leader in Gartner Magic Quadrant

Tata Consultancy Services (TCS) has been positioned as a Leader in the Gartner Magic Quadrant for Managed Workplace Services, North America, for the third year in a row. The company’s positioning as a Leader is a testament to its completeness of vision and ability to deliver the right digital experience.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

 

11-Jun-2019

ICICI Lombard leverages technology to deepen consumer connect

ICICI Lombard General Insurance Company has launched a new corporate campaign that highlights its technology solutions with a human touch.

The campaign comprises three ads, each highlighting one of its customer focused solutions ‘ InstaSpect, Women Assist and Artificial Intelligence based health claim settlement. Through three different scenarios, the ads underline the real time solutions to uncertain situations that customers face.

ICICI Lombard General Insurance Company offers its customers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.

 

11-Jun-2019

DCW raises Rs 30.45 crore via NCDs

DCW has raised funds through allotment of first tranche of 3045 Unrated Unlisted Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1 lakh aggregating to Rs 30.45 crore on a private placement basis. The Board of Directors of the Company has approved the allotment of the instrument on June 10, 2019.

DCW is an industry pioneer with a strong presence in the Chlor-Alkali, Synthetic Rutile and PVC business segments, with a successful record of innovation and in pioneering new products and processes.

 

11-Jun-2019

Avenue Supermarts raises Rs 100 crore via CP

Avenue Supermarts has raised funds through issuance of Commercial Paper (CP) worth Rs 100 crore. The company has issued CP on June 11, 2019 and it will mature on September 09, 2019. The rating agency, CRISIL has assigned ‘A1+’ rating to the instrument.

Avenue Supermarts is a Mumbai-based company, which owns and operates DMart stores. D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof.

 

11-Jun-2019

International Combustion inks pact with Cementos Capa

International Combustion (India) has entered into Foreign Technical Collaboration & Trademark License Agreements with Cementos Capa, SL, Spain, for manufacturing with their technology, various Building Material products including Tile Adhesives of various types, Waterproofing Compounds, Applicatech Waterproofing, Tile Grouts and Epoxy Grouts at the Company’s Building Material Division plant at Ajmer and for marketing the same with their trademark CAPA in India, Nepal, Bangladesh, Sri Lanka, Bhutan & Myanmar on an exclusive basis and in Thailand, Vietnam, Laos, Cambodia, Singapore and Indonesia on a non-exclusive basis.

International Combustion (India) is an India-based company. The Company operates in two segments: mineral and material processing and handling equipment, and gear box and geared motor drive system.

 

11-Jun-2019

Eicher Motors’ JV launches all-new range of BS-VI compliant trucks

Eicher Trucks and Buses, a part of VE Commercial Vehicles has launched an all-new range of BS-VI compliant Eicher Pro 2000 series of light-duty trucks in India with an objective to have an edge over its competitors. VE Commercial Vehicles is joint venture between Eicher Motors and Volvo Group.

This range will expand VE Commercial Vehicles’ light-duty portfolio and address a wider range of applications.

Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.

 

11-Jun-2019

Dish TV launches ‘d2h Cricket Cup’ contest for its customers

Dish TV India has launched ‘d2h Cricket Cup’ – Predict & Win contest for its d2h customers. The contest is aimed at creating excitement among cricket fans and providing them an opportunity to win exciting prizes during the Cricket World Cup. All new & existing d2h subscribers are eligible for this contest.

This contest offers an opportunity to every participant to win upto 30% cashback on their next recharge for correct prediction. The top 10 quickest predictors for each match will win 1 month of free subscription on daily basis and the top 10 quickest predictors of the tournament will get 1 year free subscription of d2h on the basis of their current subscription.

Dish TV is India’s largest Direct to Home television operator using MPEG 4 DVB S2 and MPEG 2 digital compression technology.

 

11-Jun-2019

Thomas Cook fosters family bonding through travel

Thomas Cook (India) is fostering family bonding through travel, with specific focus on Father-Child bonding tours, in a run up to Father’s Day. With an increasing trend of father-child travel to both domestic and international destinations, millennials are opting to gift travel experiences rather than conventional options.

Thomas Cook India data has indicated a 30% rise in male travellers aged above 45 years and post -retirement as compared to 2018. With over 90% holidaying with their families, ‘Dad and Me’ travel is fast gaining ground today. For today’s cash rich, but time poor generation, the emotional appeal of travelling to spend quality time with their Dad is resulting in strong demand for outdoors-adventure, music and culture tourism; sports tourism being a significant driver.

To leverage this significant trend, Thomas Cook India had recently launched a digital video campaign CricketDateWithDad close on the heels of Father’s Day (June 16, 2019) and in sync with the on-going ICC Cricket World Cup. The video brings to life the little nuances of a father son bond, strengthened through the game over the years and taking one on a trip down memory lane to relive their precious memories.

Thomas Cook (India) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business.

 

11-Jun-2019

Bharat Financial Inclusion receives NCLT’s approval for Scheme of Arrangement

National Company Law Tribunal (NCLT), Mumbai Bench has approved the Scheme of Arrangement amongst Bharat Financial inclusion, IndusInd Bank, IndusInd Financial Inclusion and their respective shareholders and creditors, on June 10, 2019.

Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company’s mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.

 

11-Jun-2019

Bharti Airtel agrees to pay $26 million to Tanzanian government: Report

Bharti Airtel has reportedly agreed to pay 60 billion shillings ($26 million) to the Tanzanian government over five years and cancel debt to resolve a dispute over ownership of its Airtel Tanzania unit.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

 

11-Jun-2019

Zensar Technologies enters into partnership with NetApp, Cisco

Zensar Technologies has entered into partnership with NetApp and Cisco to deliver the FlexPod converged infrastructure managed private cloud offering which integrates NetApp storage, Cisco UCS compute / networking resources, and Zensar’s The Vinci Smart Autonomics Platform to deliver a feature rich private cloud for our customers.

As part of the FlexPod Managed Private Cloud (MPC) program, the company can now provide a fully managed, Zero Touch dedicated private cloud infrastructure to customers globally that will allow the enterprise to maintain ownership of the infrastructure and data, while the company manages and monitors the service. The company is showcasing its Managed Private Cloud Services at Cisco Live on June 9-13, 2019 at the San Diego Convention Center in San Diego, CA.

Zensar Technologies operates as a software service company. It is engaged in software development, networking, e-commerce, and systems integration services. It also provides consulting, collaboration services and business process outsourcing services.

 

11-Jun-2019

Talwalkars along with DLL to operationally launch first club in Pune

Talwalkars Better Value Fitness (TBVFL) along with its partner David Lloyd Leisure (DLL) is all set to open its first club in India. Spread across approximately 1.2 acres in Wakad, Pune, the club promises to meet international standards. The Club team also made a unique invitation to the members of the inner circle of Pune and Mumbai. The initial club membership is priced between Rs 80,000 to Rs 15 lakh.

Talwalkars Better Value Fitness is one of the largest fitness chains in India offering a diverse suite of services including gyms, spas, aerobics and health counseling under the brand ‘Talwalkars’.

 

11-Jun-2019

Tata Motors’ arm reports retail sales of 42,370 vehicles in May

Tata Motors’ wholly owned subsidiary — Jaguar Land Rover (JLR) has reported retail sales of 42,370 vehicles in May 2019, down by 12.2% compared to May 2018. Higher retail sales of the new Range Rover Evoque and the all-electric I-PACE were offset by lower sales of other models, primarily in China. Sales of the Discovery Sport were lower ahead of the introduction of the refreshed model, which is now on sale following its reveal in May.

By region, retail sales were marginally down in North America (-1 .5%) and also down in other markets including the UK (-6.7%), Europe (-9.6%), Overseas markets (-18.4%) and China (-26.4%) where market conditions remain challenging.

Jaguar retail sales in May 2019 were 13,142 vehicles, down 9.4% year-on-year and Land Rover retailed 29,228 vehicles, down 13.5% compared to May 2018.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.

 

11-Jun-2019

Max Financial Services’ JV launches ‘My Protection Quotient’ Tool

Max Life Insurance, a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Company, has launched a unique proprietary tool, ‘My Protection Quotient’ (MyPQ). It is a smart tool designed to gauge the level of individual’s financial protection and to promote awareness and importance of term plans in protecting the financial future of families.

The tool will post a set of diverse questions to seek inputs on their level of preparedness for all possible financial responsibilities, their awareness & ownership of life insurance products and the existing life insurance cover.

Max Financial Services, a part of the $2 billion Max Group, is the holding company for Max Life, India’s largest non-bank, private life insurance company.

 

11-Jun-2019

Maruti Suzuki slashes vehicle production by 18% in May

Maruti Suzuki India has cut vehicle production by over 18 percent in May. It is the company’s fourth consecutive month of taking a production cut. The company has produced a total of 1,51,188 units in May, including Super Carry LCV, down 18.1 percent from 1,84,612 units in the year-ago month.

The company has slashed production of passenger vehicles, including Alto, Swift and Dzire, by 18.88 percent to 1,48,095 as compared to 1,82,571 units in May 2018. The company cut production of mini segment vehicles by 42.29 percent to 23,874 units last month as against 41,373 units in the year-ago period.

The company has also slashed production of compact segment cars by 9.54 percent to 84,705 units in May from 93,641 units in corresponding month of last year. Production of utility vehicles also witnessed a decline of 3.21 percent to 24,748 units, as against 25,571 units in May last year.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

11-Jun-2019

JSW Steel reports crude steel production of 14.53 LT in May

JSW Steel has reported Crude Steel production at 14.53 lakh tonnes (LT) for May 2019, registering a rise of 4% over corresponding month of previous year.

The production of rolled products (long) increased to 3.58 LT in May 2019 as compared to 3.29 LT in May 2018, representing a surge of 9%. The production of rolled products (flat) stood at 10.17 LT in May 2019 as compared to 9.56 LT in May 2018, representing a rise of 6%.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

 

11-Jun-2019

HPCL unveils month-long Quality & Quantity assurance campaign

Hindustan Petroleum Corporation (HPCL) has unveiled a month-long Quality and Quantity (Q&Q) assurance campaign ‘HP hai jahan bharosa hai wahan’ at its retail outlets (petrol pumps) across the country, starting from June 10, 2019

The campaign is intended to provide customers and the general public a forum to affirm the ‘Q&Q’ of petrol and diesel sold at HPCL retail outlets across the country.

HPCL is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.

 

11-Jun-2019

RIL to temporarily shut down crude unit at Jamnagar refinery

Reliance Industries (RIL) is all set to temporarily shut down a crude distillation unit at its old refinery at Jamnagar for maintenance and inspection for up to four weeks from June 20. The company owns and operates two refineries at Jamnagar in Gujarat – a 33 million tonne a year DTA refinery that caters to local fuel demand and a 35.2 million tonnes only-for-export unit. The other crude distillation and secondary processing units are expected to operate normally during the period.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

 

11-Jun-2019

BHEL awards contract worth Rs 472 million to RPP Infra Projects

Bharat Heavy Electricals (BHEL) has awarded a contract worth Rs 472 million to RPP Infra Projects for structural works of their Coal Handling Plant & Ash Handling Plant. The project is based in Tuticorin, Tamil Nadu and is expected to be completed within 24 months.

RPP Infra Projects is one of the India’s leading and fast growing Non Metro/Rural based company located at Tamil Nadu and engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plant.

 

11-Jun-2019

ZEE5 partners with Applicaster

ZEE5, a video on demand website run by Zee Entertainment Enterprises, has partnered with Applicaster, one of Israel’s leading global cloud platforms for media app development and management in the media space.

Applicaster will work with ZEE5 to enhance the latter’s user interface and experience, leveraging its state-of-the-art tech, industry knowledge on the evolving trends across the globe. It will also enhance ZEE5’s functionality, offering a seamless content viewing experience to the viewers.

Zee Entertainment Enterprises is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world.

 

11-Jun-2019

HDFC Bank joins hands with Kozhikode Police for ‘Traffic Paathshala’ Initiative

HDFC Bank has partnered with Kozhikode Police to launch a road safety initiative in the city called ‘Traffic Paathshala,’ the initiative aims to make Kozhikode roads safer by creating awareness on the Do’s and Don’ts of RoadSafety.

Nearly 3 lakh people are expected to benefit from this Initiative, which will cover city’s major road crossings such as Mavoor Road, Waynad Road, Kannur Road and Ramanattukara Bypass.

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.

 

11-Jun-2019

Muthoot Capital Services completes assignment transaction of Rs 84.95 crore

Muthoot Capital Services has completed an assignment transaction of Rs 84.95 crore on June 07, 2019. With this transaction, the Company has so far raised total funds of Rs 196.88 crore through securitization / direct assignment transactions during the FY 2019-20.

The entire pool is from the non – priority sector and has been taken after considering the guidelines prescribed by the Reserve Bank of India in this regard.

Muthoot Capital Services is a deposit taking non-banking financial company (NBFC). The company is engaged in financing for purchase of automobiles, including two wheelers, against hypothecation of the respective vehicles, and granting of personal/business loans against demand promissory notes.

 

11-Jun-2019

IndiGo launches daily non-stop flights on Kolkata-Hong Kong route

Interglobe Aviation (IndiGo) has launched daily non-stop flights on the Kolkata-Hong Kong route from August 20, providing both business and leisure travellers more options to choose from. Bookings on this route are open with immediate effect.

The airline is committed to strengthen and grow its international network, in line with its overall growth strategy to meet the requirement of both business and leisure travellers.

InterGlobe Aviation provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline.

 

11-Jun-2019

UltraTech Cement gets environment ministry’s nod for project in Andhra Pradesh

UltraTech Cement has received approval from environment ministry for Rs 2,500 crore project in Andhra Pradesh. Under the project, the company will set up an integrated cement plant at Petnikote village in Kurnool district with a clinker capacity of 4 million tonne per annum (MTPA), 6 MTPA of cement, 60 mega watt of captive power plant and 15 mega watt of waste heat recovery-based power unit.

The company has already acquired 431.92 hectare land for the project, which is estimated to cost Rs 2,500 crore and generate employment for 900 persons. The company will have to get ‘consent to establish and operate’ from the Andhra Pradesh Pollution Control Board.

UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India. It is also one of the leading cement producers globally. UltraTech as a brand embodies strength, reliability and innovation.

 

11-Jun-2019

Visaka Industries displays ‘Smart pushcarts’: Report

Visaka Industries has reportedly displayed the benefits of one of its products ‘ATUM’, an integrated solar rooftop, by showcasing smart pushcarts installed by the product. Eighteen pushcarts were installed with ATUM on their roof and were converted into a ‘Smart Carts’. Each ‘Smart Cart’, with a capacity to generate 1-1.5 units and 1280W of energy, were donated to vegetable vendors.

These 18 carts worth Rs 7,20,000 were donated to vegetable vendors at the Dr BR Ambedkar Open University in Hyderabad.

Visaka Industries is engaged in the manufacture of fibre cement sheets. The company also manufactures Accessories like Close Fitting Adjustable Ridges, North Light Ridges, North Light Curve, Roof Lights, Apron piece, Barge Boards, Serrated Adjustable Ridges, Close Fitting Adjustable Ridges, etc.

 

11-Jun-2019

Bharti Airtel upgrades mobile network in Delhi NCR

Bharti Airtel has further upgraded its mobile network in Delhi NCR with the deployment of LTE 900 technology on the 900 Mhz spectrum. This will add to the high speed network capacity and enhance indoor network experience for Airtel4G smartphone customers.

More importantly, given the high propagation and reach of the 900 Mhz spectrum, Airtel smartphone customers will enjoy improved 4G availability inside buildings – homes, offices and malls. It will also result in wider availability of Airtel 4G across Delhi NCR, which is one of the largest and most dense telecom markets in the country.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

 

11-Jun-2019

Petronet LNG commissions addition 2.5 MMTPA LNG regasification facility

Petronet LNG has commissioned the facility related to expansion of Dahej LNG Terminal from 15 to 17.5 MMTPA i.e. addition of 2.5 MMTPA LNG regasification facility. As such the additional gas send-out from Dahej LNG Terminal has commenced. The Performance Guarantee test shall be performed once the system is stabilized.

Petronet LNG is one of the leading players in oil and natural gas industry space. The company’s promoters are GAIL (India), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL).

 

11-Jun-2019

IL&FS Engineering enters into settlement agreement with NHAI

IL&FS Engineering and Construction Company has entered into a settlement agreement with National Highways Authority of India (NHAI), against the Arbitration Award through conciliation.

The claim amount for the project of widening and strengthening of existing National Highway from two lane to 4 lane from KM 36.00 to KM 5.50 of Daboka to Nagaon section of NH-36 in 1 Assam on East-West Corridor under Phase II Program of NHDP contract Package number EW-II (AS-17) is Rs 41.82 crore.

The claim amount for the project of widening and strengthening of existing National Highway from Two Lane to Four Lane from KM 230.50 to KM 205.00 of Dharamtul to Sonapur Section of NH-37 in Assam on East-West Corridor under Phase II Programme of NHDP Contract Package number EW-II (AS-19) is Rs 108.33 crore.

IL&FS Engineering and Construction Company is one of the leading multi-national Infrastructure Development, Construction and Project Management companies with nearly three decades of rich and varied experience in executing landmark projects.

 

11-Jun-2019

DHFL completes sale of stake in Aadhar Housing Finance

Dewan Housing Finance Corporation (DHFL) has completed the transaction of sale/transfer of 23,01,090 representing 9.15% equity shares i.e. entire stake held by the company in Aadhar Housing Finance to BCP Topco VII.

DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.

 

11-Jun-2019

HCL Technologies, PTC showcase RMI solution at LIVEWORX 19

HCL Technologies and PTC, an industry leader in augmented reality and IoT, are pioneering Internet of Things (IoT) solution – Realtime Manufacturing Insights (RMI) – for the discrete manufacturing industry. The solution was launched at LIVEWORX 19, which is the definitive event for digital transformation for the enterprise and marketplace for solutions engineered for a smart, connected world.

RMI is a significant business enabler for Industry 4.0 manufacturing organizations that face a need to have near real-time visibility into the availability, performance, and quality of any given tool, equipment, or machine that is part of the manufacturing process. In addition, it provides enhanced insights, such as rolebased visualization, drill-down functionality, alerts, trends, downtime, and data analytics.

HCL Technologies is a leading global IT services company that helps global enterprises re- imagine and transform their businesses through digital technology transformation.

 

11-Jun-2019

Infosys opens experience design & innovation studio in London

Infosys has opened its experience design & innovation studio in Shoreditch, London which will provide a state of the art space for the company and its clients to ideate, collaborate and innovate together by combining design and the latest technology offerings, including AI, AR/VR, IoT and 5G.

The Infosys Experience Design & Innovation Studio, located at Silicon Roundabout in Shoreditch, London is designed to enable co-creation and co-innovation between Infosys and its clients at both speed and scale.

Infosys is a global leader in technology services and consulting. The company enables clients in 45 countries to create and execute strategies for their digital transformation.

 

10-Jun-2019

Atul terminates JV agreement with Elkay

Atul has terminated Joint Venture (JV) Agreement with Elkay Kimyasal Maddeler SAN. TIC. A.S. based in Turkey (Elkay). Earlier, the company had signed agreement on March 2012 with Elkay for promoting stone care chemicals in India.

Atul operates through six business divisions, namely, Agrochemicals, Aromatics, Bulk Chemicals & Intermediates, Colors, Pharmaceuticals & Intermediates and Polymers.

 

10-Jun-2019

Crisil revises Tata Power’s outlook to ‘positive’

Credit rating agency, Crisil has revised Tata Power’s outlook to ‘positive’ from ‘stable’. Clearing off of all dues on debentures worth Rs 1,082 crore and a term loan of Rs 605 crore helped in the revision of the outlook.

Rating agency also said that there will be an improvement in the company’s credit risk profile on implementation of the high power committee (HPC) recommendations for its subsidiary Coastal Gujarat (CGPL) and also continued deleveraging through sale of non-core assets such as the strategic engineering division (SED).

Tata Power Company is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

 

10-Jun-2019

Vodafone Idea’s shareholders, creditors approves transfer of optical fibre assets to subsidiary

Vodafone Idea’s shareholders and creditors have approved plan to transfer optical fibre assets to its wholly-owned subsidiary Vodafone Towers. The meeting of shareholders and creditors of the company were separately held on June 6.

The company had proposed to transfer its telecom fibre infrastructure to Vodafone Towers before monetising it and approached the National Company Law Tribunal Ahmedabad on April 11, 2019, for its approval.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.

 

10-Jun-2019

Union Quality Plastics reports fire accident at Gujarat facility

Union Quality Plastics has reported a fire accident occurred on June 04, 2019 at Umbergaon in Gujarat manufacturing facility. This facility manufactures extrusion & weaving HDPE woven fabric, LDPE Lamination, HDPE Tarpaulins, Vermibed and HDPE Geomembrane. The fire was immediately brought under control and there is no loss or injury to human life.

The extent of damage which is under assessment is not likely to cause any significant impact on the company’s operations considering the presence of an alternate facility.

Union Quality Plastics is one of the leading manufacturer of polyethylene fabric based products for packaging, shelter, waterproofing and horticultural applications.

 

10-Jun-2019

Ambuja Cements’ CSR arm planning to spend Rs 125 crore in FY20

Ambuja Cements’ CSR arm — Ambuja Cement Foundation is planning to spend Rs 125 crore, including Rs 40 crore in Rajasthan, towards corporate social responsibility in the current fiscal.

Revival of traditional water resources, rainwater harvesting and groundwater recharge, healthcare support, vocational training and skill development were some of the initiatives which have been undertaken by the foundation.

Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets.

 

10-Jun-2019

Globus Spirits revises selling rates of country liquor in Rajasthan

Globus Spirits has revised selling rates of country liquor in the state of Rajasthan by Rajasthan State Ganganagar Sugar Mills. With this revision, the company will be benefited by an average increase of Rs 35 per case in the sales of country liquor, effective from June 01, 2019.

Globus Spirits is a leading private player in Rajasthan country liquor segment having 30% market share; which has a significant contribution in company’s country liquor revenues.

 

10-Jun-2019

Cipla gets EIR for Kurkumbh facility

Cipla has received the Establishment Inspection Report (EIR) for the inspection done by United States Food and Drug Administration (USFDA) at the Kurkumbh manufacturing facility. The inspection was conducted from March 11, 2019 to March 20, 2019.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. The company’s portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.

 

10-Jun-2019

Tech Mahindra, IIT Kanpur collaborate to address future cyber security challenges

Tech Mahindra has signed a Memorandum of Understanding (MoU) with Indian Institute of Technology Kanpur (IIT Kanpur) towards the knowledge enrichment and conducting joint research in the field of cybersecurity.

Through this partnership, Tech Mahindra will bring real world industry exposure to students of IIT Kanpur. Tech Mahindra will be working closely with IIT Kanpur on research projects to develop and foster an environment to deal with automation in cyber security and to enhance digital resilience of critical national infrastructure. As a part of this research partnership, Tech Mahindra will share real world challenges in cyber security with IIT Kanpur teams to find suitable solution.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.

 

10-Jun-2019

Regenta & Royal Orchid Hotels open 3 new properties in Chandigarh, Chennai, Kullu-Manali

India’s fastest growing hospitality brand, Regenta & Royal Orchid Hotels now operate 50+ properties across 35 locations in India. The brand recently opened 3 new hotels; Regenta Central Cassia in Zirakpur (Chandigarh), Regenta Central RS OMR in Chennai and Regenta Inn Blossoms, Kullu-Manali.

The Regenta Central Cassia is strategically located near the international airport, offering a convenient location for those travelling for business or for leisure. The Regenta Central RS is strategically located on the Old Mahabalipuram Road (OMR), and is the first ‘in-mall’ hotel project on OMR, providing ‘within-the-complex’ access to the Marina Mall for its guests. The Regenta Inn Blossoms, Kullu-Manali is strategically located on NH21, leading to Manali.

Royal Orchid Hotels is one of India’s fastest growing hotel chains. It primarily operates 5 and 4 star hotels, enabling it to target the discerning business and leisure traveler.

 

10-Jun-2019

Hero MotoCorp becomes first two-wheeler manufacturer to get BS-VI certification

Hero MotoCorp has become the first two-wheeler manufacturer in the country, to receive the BS-VI certification for a two-wheeler. The company received the Type Approval Certificate from International Centre for Automotive Technology (ICAT) for the Splendor iSmart motorcycle, after it was successfully tested for compliance to the BS-VI emission norms. The BS-VI compliant motorcycle has been designed and developed in-house, at the company’s R&D hub, the Centre of Innovation and Technology (CIT) in Jaipur, Rajasthan.

With this, Hero MotoCorp has reaffirmed its commitment to be ready for the BSVI transition much ahead of the April 1, 2020 deadline. The company has the technological prowess for meeting the BS-VI norms and will now be gearing up to make its large portfolio of motorcycles and scooters BS-VI compliant.

Hero MotoCorp is an India-based holding company and a two-wheeler manufacturer. The company is engaged in the manufacturing and selling of motorized two-wheelers, spare parts and related services.

 

10-Jun-2019

Aditya Birla Fashion gets nod for SPA with Jaypore E-Commerce

Aditya Birla Fashion and Retail has received approval for entering into a Share Purchase Agreement (SPA) with the existing shareholders of ‘Jaypore E-Commerce’, a B2B entity which sells ethnic fashion merchandise under its own brand ‘Jaypore’ and of other third-party brands.

The Board has also given approval for entering into a SPA with the existing shareholders of ‘TG Apparel & D’cor’, a B2C entity which retails ethnic fashion, both online and offline.

Aditya Birla Fashion and Retail is engaged in providing branded fashion apparels and accessories, and the retail sale of clothing, footwear and leather articles in stores. It operates through two segments: Madura Fashion & Lifestyle, and Pantaloons. The company’s brands include Louis Philippe, Van Heusen, Allen Solly and Peter England.

 

10-Jun-2019

Parag Milk Foods launches premium milk brand ‘Pride of Cows’ in Singapore

Parag Milk Foods has launched its Farm-to-Home premium milk brand ‘Pride of Cows’ in Singapore. With the objective of providing a farm fresh experience to consumers in Singapore, the company is airlifting the milk from India’s largest dairy farm, located in Manchar, near Pune to Singapore.

Parag Milk Foods, established in 1992, is the largest private dairy FMCG company with a pan India presence.

 

10-Jun-2019

Maruti Suzuki’s 2nd JIM gets accreditation from Japan’s METI

Japan’s Ministry of Economy, Trade and Industry (METI) has granted a certificate of accreditation to Maruti Suzuki’s upcoming Japan-India Institute for Manufacturing (JIM) in Uncha Majra, Gurugram, Haryana.

This 2nd JIM by Maruti Suzuki will train over 500 youth annually and is expected to begin operations in second quarter of FY 2018-19. Maruti Suzuki’s first JIM, also METI accredited, is operational at Mehsana Gujarat, since 2017. The first batch from JIM Mehsana, received 100% placement last year.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

10-Jun-2019

KPI Global Infrastructure acquires entire stake in Sun Drops Energia

KPI Global Infrastructure has acquired 100% equity shares of Sun Drops Energia, Surat (SPV) on June 10, 2019, which was registered with Registrar of Companies, Gujarat on May 28, 2019.

The Main object behind the acquisition of SPV Company is for execution of Solar Power Project and the business of the entity is in main line under the business of KPI Global Infrastructure.

KPI Global Infrastructure is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (CPP) customers.

 

10-Jun-2019

HGS enters into strategic partnership with Hello Customer

Hinduja Global Solutions (HGS) enters into strategic partnership with Hello Customer. This partnership will strengthen both organisations in their mission to help companies become truly customer-centric.

The company and Hello Customer operate on the guiding principles that being brilliant at the basics and putting the customer first are both critical to protecting and building customer relationships and enhancing brand reputation. This new partnership will unlock competitive advantage for clients, ultimately setting them up for growth.

HGS is a global leader in business process management (BPM) and optimizing the customer experience lifecycle, HGS is helping make its clients more competitive every day.

 

10-Jun-2019

S H Kelkar gets nod to acquire remaining 49% stake in CFF

S H Kelkar and Company has received an approval to acquire remaining 49% stake in Italy based – Creative Flavours and Fragrances SpA (CFF) during the second half of the calendar year 2019. The Board of directors of the company at its meeting held on June 10, 2019 has approved for the same.

The company had entered into an agreement to acquire CFF in January 2018. The agreement was for acquisition of 100% share capital of CFF, in tranches, over two to three years. In the first tranche, the company had acquired 51% stake in 2018.

S H Kelkar and Company is a fragrance manufacturer in India. The company operates in two segments: Fragrances, which manufactures/trades in Fragrances and aroma ingredients for Fragrances, and Flavours, which manufactures/trades in Flavors.

 

10-Jun-2019

Trident reports 13,851 metric tons of paper production in May

Trident has reported 13,851 metric tons production of Paper in May 2019. Further, chemicals production stood at 7,888 metric tons.

The company’s bath linen and yarn production stood at 4,226 metric tons and 9,572 metric tons, respectively, while bed linen production stood at 1.97 million metres during May.

Trident is one of the largest exporters of Home Textile products from India. The company exports to more than 100 countries across 6 continents.

 

10-Jun-2019

Goa Carbon reports 9,878.300 MT production of Calcined Petroleum Coke in May

Goa Carbon has reported production of 9,878.300 million tonnes (MT) of Calcined Petroleum Coke for the month of May 2019. Of the total production achieved for the month, Goa plant produced 1,286.300 MT and Pradeep plant produced 8,592.000 MT of Calcined Petroleum Coke.

Goa Carbon is into the business of manufacturing and marketing Calcined Petroleum Coke. Goa Carbon is firmly established as a leading Indian petcoke calciner. It is a regular supplier to aluminium smelters, graphite electrode and Titanium Dioxide manufacturers, as well as other users in the metallurgical and chemical industries.

 

10-Jun-2019

Globus Spirits to get benefit from upward revision of country liquor selling rates

Globus Spirits will be benefited by an average increase of Rs 35 per case in the sales of country liquor, as Rajasthan State Ganganagar Sugar Mills has revised selling rates of country liquor in the state of Rajasthan. This price changes is effective from June 01, 2019.

Globus Spirits is a leading private player in Rajasthan country liquor segment having 30% market share; which has a significant contribution in company’s country liquor revenues.

 

10-Jun-2019

Wipro’s arm continues to scout for acquisitions in FMCG sector in domestic, South Asian markets

Wipro Consumer Care and Lighting (WCCL), the consumer care business of Wipro, will continue to scout for acquisitions in the FMCG sector in domestic and South Asian markets besides growing organically as part of its growth strategy.

Wipro Consumer Care & Lighting is also leveraging its Ayurvedic soap brand Chandrika to cash in on the current trend of organic products in FMCG segment and has plans to introduce more in the market under the brand name.

Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

 

10-Jun-2019

Wipro rolls out TOPS CREW for global airlines

Wipro has rolled out Total Operations System (TOPS) CREW, a fully-integrated IT product suite for global airlines. Developed jointly by the company and Qatar Airways in an innovative co-investment model, TOPS is one of the most advanced products available in the aviation market. It helps in increasing the safety awareness, efficiency and profitability of airline operations.

TOPS is a suite of products to which TOPS CREW is the latest addition. TOPS CREW helps airlines manage all major processes related to crew management such as leave bidding and planning, crew training and crew tracking. This product helps maximize productivity by managing crew operations, optimizing costs and reducing operational delays.

TOPS CREW provides a powerful ‘what-if’ analysis tool allowing airlines to prepare, review and compare various solutions to address business problems. Its dynamic rule-checking ability ensures all real-time changes are checked for regulatory compliance, airline-stipulated requirements and also highlights violations of crew legality. TOPS CREW is also fully compliant with European Aviation Safety Agency (EASA) requirements.

Wipro is a leading global information technology, consulting and business process services. The company harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help clients adapt to the digital world and make them successful.

 

10-Jun-2019

Central Bank of India planning to raise Rs 5,000 crore in FY20

Central Bank of India is planning to raise up to Rs 5,000 crore in the current fiscal (FY20) through various means, including rights issue and FPO, to meet Basel III norms by March 2020.

The bank will raise capital through follow on public offer, rights issue or qualified institutional placement (QIP) and will seek permission from shareholders in the ensuing annual general meeting to be held on June 28, 2019.

Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.

 

10-Jun-2019

Ratnamani Metals & Tubes secures new domestic order worth Rs 250 crore

Ratnamani Metals & Tubes has received new domestic order for supply of CS Coated Pipes from Oil & Gas Sector valued Rs 250 crore to be completed between October, 2019 to May, 2020.

Ratnamani Metals & Tubes is a multi-location, multi-product company, in India, manufacturing Tubes & Pipes in Stainless Steel/Exotic material and alsoCarbon Steel Pipes, in wide size ranges, for wide spectrum of applications.

 

10-Jun-2019

Natco Pharma expects India, Brazil, Canada markets to be revenue drivers in FY20

Natco Pharma is expecting India, Brazil and Canada markets to be its revenue drivers during the current financial year, recording growth of 30% to 40%. The company expects India business alone is likely to grow by about 15% to 20%.

Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.

 

10-Jun-2019

Maruti Suzuki’s Dzire continues to maintain pole position as India’s best-selling compact sedan

Maruti Suzuki India’s brand Dzire continues to maintain pole position as India’s best-selling compact sedan for more than 10 years. It has become the preferred choice for over 19 lakh customers. The company sold over 2.5 lakh units of Dzire in 2018-19, averaging monthly sales of over 21,000 units. Dzire leads the compact sedan segment with a market share of 55%.

Positioned as an authentic sedan offering plush and roomy interiors, loaded with new features and equipped with advanced safety features, the new Dzire became an instant hit since May 2017. Features such as DRLs (daytime running lamps), precision cut two-tone alloy wheels, rear AC vents and SmartPlay infotainment system (compatible with Android and iOS users) make Dzire an irresistible package in its segment.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.

 

10-Jun-2019

Datamatics features in IAOP 2019 Global Outsourcing 100 List of World’s Best Outsourcing Providers

Datamatics Global Services has been recognized in the Best of The Global Outsourcing 100 list published by IAOP, the International Association of Global Outsourcing Professionals, and published annually by FORTUNE Custom Projects.

The company has been recognized in the four categories that are Best of Leaders, Top Customer References, Rising Stars to Leaders and Multiple Appearances. This recognition by IAOP further strengthens company’s commitment to deliver quality business centric solutions across the outsourcing value chain.

Datamatics Global Services is a premier provider of end-to-end BPO and IT solutions spanning consulting, technology architectures and business process management.

 

10-Jun-2019

Bank of Baroda puts on sale non-performing loans worth Rs 9,060 crore

Bank of Baroda (BoB) has put on sale non-performing loans amounting to Rs 9,060 crore, including two large accounts – Bhushan Power & Steel and Alok Industries which are undergoing insolvency process but delayed. Bhushan Power & Steel dues are to the tune of Rs 2,099 crore, while Alok Industries dues are Rs 903 crore.

Besides these two big accounts, the bank is also looking to sell 65 other medium and small-size stressed accounts worth Rs 6,057 crore, only on cash basis.

Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.

 

10-Jun-2019

PVR launches 10-screen multiplex in Chennai

PVR has launched its 10-screen multiplex at Uthandi mall in Chennai on June 10, 2019. As an extension of its customer-centric approach, PVR introduced their specially crafted auditorium for tiny tots, PVR Playhouse in the new multiplex.

Equipped with best in segment technological solutions and modern facilities, the new property aims to indulge its patrons with an unmatched luxurious experience. With this launch, PVR augments its presence in Tamil Nadu and Southern India with 83 screens in 13 properties and 268 screens in 43 properties respectively.

PVR is the largest and most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is consumed in the country.

 

10-Jun-2019

JSW Steel receives NCLT approval for amalgamation plan

JSW Steel has received approval from the National Company Law Tribunal (NCLT) for the scheme of amalgamating its four units. The company has merged Dolvi Minerals and Metals with Dolvi Coke, JSW Steel Processing Centres with JSW Steel, JSW Salav with JSW Steel.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

 

10-Jun-2019

RPP Infra Projects bags new order worth Rs 472 million

RPP Infra Projects has bagged a new order worth Rs 472 million from Bharat Heavy Electricals (BHEL) for structural works of their Coal Handling Plant & Ash Handling Plant. The project is based in Tuticorin, Tamil Nadu and is expected to be completed within 24 months.

RPP Infra’s order book at the end of FY19 stood at Rs 19,440 Million. The company aims to secure an order inflow of Rs 12,000 Million in FY20 & is already at L1 status for projects worth Rs 4,802 Million.

RPP Infra Projects is one of the India’s leading and fast growing Non Metro/Rural based company located at Tamil Nadu and engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plant.

 

10-Jun-2019

BHEL wins orders for setting up SPV power plants

Bharat Heavy Electricals (BHEL) has won three major orders in quick succession, for setting up Solar Photovoltaic (SPV) Power Plants totaling to 135 MW, on Engineering, Procurement and Construction (EPC) basis, in Maharashtra and Gujarat. Cumulatively valued at Rs 520 crore, the orders have been secured from Maharashtra State Power Generation Company (MAHAGENCO), Gujarat State Electricity Corporation (GSECL) and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC).

The order received from MAHAGENCO envisages setting up a 50 MW SPV plant at Kaudgaon, Dist. Osmanabad in Maharashtra. Notably, BHEL is also associated with Maharashtra’s renewable energy ventures with its SPV modules being installed in the solarisation of agricultural feeders. The GSECL order envisages setting up a 75 MW SPV plant at Dhuvaran, Dist. Anand in the state of Gujarat. Significantly, the order from GNFC for a 10 MW SPV Plant has reinforced BHEL’s contribution of 205 MW of green energy in Gujarat, out of which 130 MW is in Gujarat’s Solar park at Charanka.

BHEL is India’s largest engineering and manufacturing company of its kind. It is a power plant equipment manufacturer and operates as an engineering and manufacturing company.

 

10-Jun-2019

TCS features as leader, star performer in Everest Group PEAK Matrix

Tata Consultancy Services (TCS) has been recognized as a Leader and Star Performer in the Everest Group PEAK Matrix for Property and Casualty (P&C) Insurance BPO Services.

The report highlights the company’s investments in insurance-specific digital solutions to augment its digital positioning. It noted TCS’ efforts to balance its technology backbone through a domain-infused approach to services and also emphasizes TCS’ significant growth in revenue and geographically diverse client base.

Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.

 

10-Jun-2019

ACB concludes search & seizure operations at J&K Bank premises

The Anti-Corruption Bureau (ACB) has concluded its search and seizure operations at Jammu & Kashmir (J&K) Bank’s corporate office, as part of its probe into the alleged fraudulent appointments in the bank.

Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.

 

10-Jun-2019

GAC Motor collaborates with Tata Elxsi to develop Smart Gateway Module

Tata Elxsi is developing an AUTOSAR compliant Smart Gateway module for GAC Motors R&D Center. This module will feature in their new range of Electric Vehicles expected to launch in the second half of 2020.

The Smart Gateway module consists of multiple CAN, Ethernet and LIN channels and will act as the communication centre to control the inter-bus communications between various other ECUs like ADAS, IVI, BMS, HUD cluster.

Tata Elxsi is a global design and technology services company and a part of the $100+ billion Tata Group. Headquartered in Bangalore, it works with customers across industries such as automotive, broadcast, healthcare and telecom for product and software development.

 

10-Jun-2019

Eros International Media to buy back shares worth up to $20 million in US market

Eros International Media has announced a share repurchase program worth up to $ 20 million (approximately Rs 138.86 crore) on the New York Stock Exchange. The announcement comes after CARE had downgraded the ratings assigned to the bank facilities of the company’s arm Eros International Media on account of a delay in servicing of bank loans for the month of April 2019 and May 2019.

Eros International Media is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

 

10-Jun-2019

Dr. Reddy’s Lab reports positive topline results from Phase 2b study of PPC-06

Dr. Reddy’s Laboratories has reported positive topline results from its Phase 2b study of PPC-06 (formerly referred to as XP23829) in patients with moderate to severe plaque psoriasis. In the study, PPC-06 met both co-primary endpoints i.e. PASI- 75 and IGA scores of 0 or 1 with at least a 2-point reduction from baseline, after 24 weeks of oral treatment.

Dr. Reddy’s Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.

 

10-Jun-2019

Arshiya planning to develop IT/ITES Park at Panvel

Arshiya has outlaid a plan to set-up additional segment in the notified area company’s FTWZ wherein it plans to develop IT/ ITES Park on an area of about 25 acres of land situated at Panvel for which it has received approval to set up the said IT/ITES SEZ from the concerned authorities.

The said 25 acres of land situated at Panvel has been notified as IT/ITES Park and on the said Land the company plans to build a ‘Hyperscale Data Centre Park’ with a constructible area of approximately 2.5 to 3 million square feet.

Further, the company has recently entered into a Master Development Agreement (Non-Binding term sheet) with a very large global Data Centre operator.

Arshiya is engaged in providing end-to-end logistics and supply chain solutions to customers across the world.

 

10-Jun-2019

Goldiam International introduces first line of lab-grown diamond jewelry

Goldiam International has introduced its first line of lab-grown diamond jewelry to current and potential new customers. It is among the first jewelry exporting companies to dive into manufacturing & distribution of the new age lab-grown diamond jewelry.

The Lab-grown diamonds are a new and highly disruptive product in the global diamond business. They are rapidly gaining appeal among US customers for the value they provide, being at least 50% cheaper than same quality mined diamonds. As the category is currently niche, but rapidly growing, there is potential to create a line of business that enjoys a higher margin than traditional mined-diamond jewelry manufacturing.

Goldiam International is into the business of manufacturing and exporting Jewellery. The company’s product line consists of varieties of designs, in Rings, Ear rings, pendants etc.

 

10-Jun-2019

Coal India to hire merchant bankers for acquiring stakes in Australian coal assets

Coal India is going to hire merchant bankers to carry out financial due diligence for acquiring equity stakes in identified mines and companies in Australia as part of its plan to meet the growing dry fuel demand in the country.

The company has identified coal assets in Australia for acquiring equity stakes along with offtake rights in an asset or a company.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

 

10-Jun-2019

Embassy Property Developments buys 6.31 crore shares in Indiabulls Real Estate

Embassy Property Developments has bought 6.31 crore shares in Indiabulls Real Estate at Rs 150.45 per share on the BSE on June 07, 2019. However, Dahlia Infrastructure, SG Devbuild and Jyestha Infrastructure have offloaded 53 lakh shares, 60 lakh shares and 3.63 crore shares respectively, at Rs 151 per share on the BSE on the same day. Moreover, Kritikka Infrastructure has also sold 93 lakh shares at Rs 143.20 per share on the same day.

Indiabulls Real Estate is India’s third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.

 

10-Jun-2019

Jindal Stainless aims 25% e-rickshaw market share by 2021

Jindal Stainless is aiming 25% e-rickshaw market share by 2021 and expects the segment to generate revenues to the tune of Rs 200 crore over the next two years.

Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.

 

10-Jun-2019

Mahindra wins Gold Award in South Africa

Mahindra has won the Gold Award in South Africa for fairing on various indicators, including level of satisfaction among its network of dealers and the manner of allocation of vehicles to them.

Mahindra, which has been in South Africa for the past 16 years, received the award on June 7 from the country’s National Automobile Dealers’ Association (NADA) which tests dealers’ satisfaction with the way a brand supports and communicates with them.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

 

10-Jun-2019

TVS Motor becomes official sponsor for Bangladesh National Football team

TVS Motor Company has become the official sponsor for Bangladesh Football Federation (BFF) for a period of two years. As a first step, the official FIFA World Cup Asian Qualifier jersey for the Bangladesh team featuring TVS Motor Company branding was handed over to the Captain and to the rest of the team.

As per the association, TVS Auto Bangladesh, distribution partner for two wheelers of TVS Motor Company, will be sponsoring the National Team for the next two years through World Cup Qualifier, Asian Cup Qualifiers, International Friendlies and the BFF Intercontinental cup. TVS Auto Bangladesh will also sponsor the Bangladesh Premier League where 13 top football clubs participate.

TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.

 

10-Jun-2019

PTC India Financial Services inks MoU with SREI Infrastructure Finance

PTC India Financial Services has signed a Memorandum of Understanding (MoU) with SREI Infrastructure Finance. This partnership aims to facilitate financing, syndication, and advisory services in the fast growing Energy Value Chain across industries in India.

PTC India Financial Services is an Indian non-banking financial institution. The company makes principal investments in, and provides financing solutions for, companies with projects across the energy value chain.

 

10-Jun-2019

MOIL gets environmental clearance for manganese Ore mine

MOIL has got Environmental Clearance for manganese Ore mine in an area of 48.974 hectares for additional production capacity of 1,20,000 tonne per annum. This area is adjacent to Ukwa mine of the Company. Total reserve of this new lease area is estimated at 3.8 million tonne.

Mining operations will be carried out through underground mining method and necessary steps shall be taken to approach the ore body as early as possible. However, it is expected to touch ore body and production during 2020.  After the environmental clearance, total production capacity of Ukwa block will be 2,35,000 tonnes per annum.

MOIL is operating underground manganese ore mine at Ukwa in Balaghat District of Madhya Pradesh. Present capacity (EC limit) of this mine is 1,15,000 tonnes per annum.

MOIL is the largest iron ore company in India and fifth largest in world. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi).

 

10-Jun-2019

ONGC, Vedanta set to win nine oil, gas blocks each

Oil and Natural Gas Corporation (ONGC) and Vedanta are set to win nine oil and gas blocks each in the latest auction, while Reliance Industries and its British partner BP Plc is set to win KG basin gas block. The Directorate General of Hydrocarbons (DGH) has completed the evaluation of the bids received for 32 oil and gas exploration blocks that were auctioned in the latest licensing round.

The winners of the auction will be announced after the approval of the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi. Bidding for 14 blocks on offer in the Open Acreage Licensing Policy (OALP) round-II and another 18 oil and gas blocks and 5 coal-bed methane (CBM) blocks on offer in OALP-III closed on May 15.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

 

10-Jun-2019

CG Power launches next generation of compact drives for Industrial Automation

CG Power and Industrial Solutions has launched new Emotron VSX and Emotron VSM Series variable speed Drives for critical applications. This newly launched series are not only packed with advanced features but also compact in size. The new drive introduces a breakthrough control technology, developed by CG that brings high performance Motor control to demanding processes used in various industries. The newly launched products cater to the high demand coming from the domestic market.

The company also launched high performance Programmable Logic Controller (PLC) for the automation process and Human Machine Interface (HMI) for an Industrial process. With the launch of PLC and HMI, CG is to tap the potential of new market for the Automation sector.

Avantha Group Company CG Power and Industrial Solutions (formerly Crompton Greaves) is a global pioneering leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG’s offerings include electrical products, systems and services for utilities, power generation and industries.

 

10-Jun-2019

UFO Moviez India to demerge caravan talkies advertising business of VDSPL

UFO Moviez India has received approval to demerge Caravan Talkies advertising business of Valuable Digital Screens (VDSPL). The proposed demerger will enable the company to cater to the needs of the advertisers across both rural and urban audiences thereby enabling them to plan their spending in a coordinated manner, through a common vendor.

The Board of Directors of the Company at its meeting held on June 07, 2019 has approved the same.

UFO Moviez India was incorporated as ‘Valuable Media’. The company is India’s largest digital cinema distribution network and in-cinema advertising platform (in terms of numbers of screens).

 

10-Jun-2019

SBI to introduce repo-linked home loans from July

State Bank of India (SBI) is all set to introduce repo-linked home loans from July. The bank has also reduced interest rate on cash credit account (CC) and overdraft (OD) customers with limits above Rs 1 lakh, after the RBI reduced the repo rate by 25 basis points.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

 

10-Jun-2019

SBI Mutual Fund offloads 31 lakh shares of KOEL

SBI Mutual Fund has sold 31 lakh shares of Kirloskar Oil Engines (KOEL) worth over Rs 59 crore through open market transactions. The matual fund house has sold these shares on June 7, 2019.

Kirloskar Oil Engines manufactures diesel engines. The engines are preferred by various services sectors like banks, telecommunication establishments, commercial use buildings, hotels and restaurants.

 

10-Jun-2019

SAIL gets positive response from Odisha govt on request of land allocation

Steel Authority of India (SAIL) has received a positive response from the Odisha government on its request of land allocation to set up a coast-based plant in the state. SAIL had written a letter to the Odisha government for land.

As part of its 50 MTPA expansion plan, SAIL is planning to set up a 3 million tonnes per annum (MTPA) shore-based plant at an estimated cost of over Rs 15,000 crore in Odisha.

SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.

 

10-Jun-2019

M&M to observe no production days at its plants

Mahindra & Mahindra (M&M) at its Automotive Sector and Farm Equipment Sector, and Mahindra Vehicle Manufacturers, a wholly owned subsidiary of the Company (MVML), as part of aligning its production with sales requirements, would be observing ‘No Production Days’ ranging between 5 – 13 days in various plants of the Company and MVML during the first quarter of the Financial Year 2019-2020.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

 

10-Jun-2019

L&T’s construction arm secures orders from various clients across India

Larsen & Toubro’s (L&T) construction arm — L&T Construction has secured orders from prestigious clients across various Indian states for its varied businesses. The company’s Water and Effluent Treatment business has bagged EPC order from the Delhi Jal Board for the design, construction, installation, automation, testing, commissioning and O&M of a 477 MLD water treatment plant (WTP), a 105 ML clear water reservoir and a pump house for the Chandrawal command area.

The company’s residential business of Buildings and Factories has secured a repeat order from a major developer in Bengaluru for the construction of a residential complex with a total built up area of 5 million sq. ft. The company’s transportation infrastructure business has secured EPC order from the Delhi Aviation Fuel Facility (DAFFL) for the execution of fuel hydrant system development works at the Indira Gandhi International Airport at New Delhi.

Further, the company’s Power Transmission & Distribution Business has bagged an order for the design, engineering, procurement, erection, testing and commissioning of a 80MW Solar Photovoltaic Power Plant in Uttar Pradesh.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

 

 

Covered By:

Jamnadas Virji Advisory