DHFL Defaults, Market swings, 50% higher AC sales & more. 08/06/2019

Performance highlights!Nifty & Others

Weekly	Last Close	Last Week Close	Change %
Nifty	11,870.65	12,021.65	-1.26%
Bank Nifty	31,066.55	31,589.05	-1.65%
USD INR	69.39	69.17	-0.32%
Crude Oil	3,731.00	3,850.00	-3.09%

Who gained? Who lost?Industry & Stocks

Top Gainer of the week on Nifty
Coal India	4.98 %
Top Loser of the week on Nifty
GAIL (India)	-12.64 %

Top Gaining Sector
BSE Cons Durbl	+2.36 %
Top Losing Sector
Nifty PSU Banks	-5.51%

Industries that saw good volumes past week:

NBFC

Public Banks

Weekly Technical PicksWhat looks good on charts!

Weekly Technical Picks:

Market UpdatesUpcoming Results, Record dates & More

Forthcoming Events
Event	Date
CPI (YoY) (May)	12-June-19
Cumulative Industrial Production (Apr)
Industrial Production (YoY) (Apr)
Manufacturing Output (MoM) (Apr)
Current Account (USD)	13-Jun-19
WPI Food (YoY) (May)	14-Jun-19
WPI Fuel (YoY) (May)
WPI Inflation (YoY) (May)
WPI Manufacturing Inflation (YoY) (May)
FX Reserves, USD
Trade Balance

Forthcoming Record Dates
Company	Date	Purpose
MM Forgings Ltd.	10-June-19	Interim Dividend
Pennar Engineered Building Systems Ltd.	10-June-19	Amalgamation
India Motor Parts & Accessories Ltd.	11-June-19	Interim Dividend
Jump Networks Ltd.	11-June-19	Interim Dividend
Essel Propack Ltd.	12-June-19	Final Dividend
Syngene International Ltd.	12-June-19	Bonus issue
Savita Oil Technologies Ltd.	12-June-19	Buy Back of Shares
Excel Crop Care Ltd.	12-June-19	Interim Dividend
Florence Investech Ltd.	12-Jun-19	Amalgamation
Biocon Ltd.	13-Jun-19	Bonus issue
Torrent Power Ltd.	14-June-19	Final Dividend
Fairdeal Filaments Ltd.	14-Jun-19	Amalgamation
Torrent Pharmaceuticals Ltd.	14-Jun-19	Final Dividend

News Highlights!Last week, these stocks made news!

08-Jun-2019

Trigyn Technologies’ arm gets contract to provide Information Technology Services for State of Minnesota Judiciary

Trigyn Technologies’ wholly owned subsidiary – Trigyn Technologies, Inc., has been awarded a contract to provide Information Technology Services for the State of Minnesota Judiciary (Courts). The contract becomes effective on July 01, 2019 and extends for a period of two years, through June 30, 2021. 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.

08-Jun-2019

Optiemus Infracom to transfer ‘Rental Division’ business to subsidiary company

Optiemus Infracom has received approval to transfer the ‘Rental Division’ business of the Company to its wholly owned subsidiary company, which is in the process of being incorporated, as a ‘going concern’, on slump exchange basis. The Board of Directors of the Company at its meeting held on June 06, 2019 has approved the same.

Further, in consideration of such transfer, the wholly owned subsidiary company will issue its equity shares to the company in term of the Business Transfer Agreement executed by the Company.

Optiemus Infracom is engaged in leasing, equity trading, equity research, and loan syndication services. The company is also in the business activities of Renting of Immovable Property, Telecommunications – Mobiles handset and Accessories.

08-Jun-2019

Tourism Finance Corporation of India to incorporate subsidiary

Tourism Finance Corporation of India’s (TFCI) board has decided to incorporate a new subsidiary company. This will undertake the business of advisory and consultancy services.

Tourism Finance Corporation of India is engaged in the business of providing financial assistance to tourism-related activities/projects.

08-Jun-2019

RBI imposes penalty of Rs 2 crore on Kotak Mahindra Bank

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2 crore on Kotak Mahindra Bank for non-compliance of directions. The directions issued to Kotak Mahindra Bank by RBI in the exercise of its powers were under sections 27(2) and 35A of the Banking Regulation Act, 1949 (the Act) to furnish information specified therein.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

08-Jun-2019

L&T buys additional stake in Mindtree

Larsen & Toubro (L&T) has acquired 855 equity shares (with a face value of Rs 10 each) of Mindtree on June 7, 2019. After the latest transaction, L&T’s shareholding in Mindtree stands at 28.90%.

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

07-Jun-2019

Power Finance Corporation enters into MoU with Ministry of Power

Power Finance Corporation (PFC) has entered into Memorandum of Understanding (MoU) with Ministry of Power, Government of India detailing various targets to be achieved by the company during FY 2019-20.

The MoU contains various parameters relating to financial viz., revenue from operations, operating profit as percentage of revenue from operation.

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.

07-Jun-2019

Indiabulls Real Estate planning to sell 14% stake to third party investors: Report

Indiabulls Real Estate’s promoters are reportedly planning to sell 14% of the fully paid-up capital to third-party investors, a move that has been planned to ensure focus on the financial services business in the long run. The company is seeking to exit the business ahead of the proposed merger of Indiabulls Housing Finance with Lakshmi Vilas Bank.

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.

07-Jun-2019

Infosys launches Melbourne 5G Living Lab

Infosys has launched its Melbourne 5G Living Lab, a new offering that will help organisations to become Live Enterprises by imagining and creating new economies with 5G technology, while simultaneously supporting communication service providers to accelerate and monetise their 5G network deployment.

Melbourne is the second 5G Living Lab to be launched after Bangalore, which was launched in March 2019. Infosys’ network of 5G Living Labs will be completed in five global locations; Bengaluru, Melbourne, Richardson (UK), Indianapolis (US) and Frankfurt (Germany) to help ideate and bring these new economies to life.

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.

07-Jun-2019

UltraTech Cement to exceed 25% ‘green energy’ contribution to total energy consumption by 2021

UltraTech Cement is aiming to increase contribution of green energy to 25 per cent of its total power consumption by 2021. This increase is more than double the current contribution of 10% of green energy to total energy consumption by the company.

The company plans to build capacity to generate more than 650 million units of renewable power by 2021. The increased use of renewable power for the company’s electrical energy requirements will result in annual carbon emission reduction of 533000 tonnes of CO2 and in 25 years total carbon footprint reduction of 13 million tonnes of CO2. With this, UltraTech will be amongst the largest users of renewable energy in the Indian cement sector.

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.

07-Jun-2019

Allcargo Logistics exits ship-owning, coastal shipping business: Report

Allcargo Logistics has reportedly exited the ship-owning and coastal shipping business by selling the last vessel in a fleet of five ships. The growth in coastal bulk shipping has remained slow. Consequently, the segment did not contribute significantly in line with company’s outlook through the last seven years.

Allcargo Logistics is an India-based holding Company. The company is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations etc.

07-Jun-2019

Bharat Forge enters into JV agreement with Refu Electronik GmbH

Bharat Forge has entered into a Joint Venture Agreement (JV Agreement) with Refu Electronik GmbH, Germany and its Affiliates/Promoters (REFU) on June 6, 2019 for incorporating a Joint Venture Company, under the laws of Germany for developing, manufacturing and selling on board controllers and components mainly – drives, invertors, converters (including AC/DC) and all kind of auxiliary applications, related power electronics and battery management (BMS), etc. for all quality of e-mobility vehicles viz, hybrid and electric 2-wheelers, 3-wheelers, cars and commercial vehicles.

In the proposed Joint Venture Company (JVC), the company will hold 50% of stake by making an investment of EUR 11.35 Million by way of equity shares at nominal value of Euro 1, subject to fulfilment of conditions in Share Purchase Agreement and JV Agreement between the parties.

Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.

07-Jun-2019

Technocraft Industries incorporates Joint Venture

Technocraft Industries (India) has incorporated an LLP as a Joint Venture for providing service of recruitment/ training of highly educated/skilled people from India to overseas corporates.

The name of the Joint Venture is Benten Technologies LLP. Capital contribution and Profit/Loss sharing ratio shall be in the ratio of 50:50. Total initial capital contribution is Rs 1 lakh of which Technocraft Industries (India) shall contribute 50% i.e. Rs 50,000 and other partner shall contribute Rs 50,000.

Technocraft Industries (India) is engaged in the manufacturing of drum closures, tubes and scaffoldings, knitted and crocheted cotton fabrics, textile garments, and preparation and spinning of cotton fiber.

07-Jun-2019

Reliance Industries’ R Elan partners with Lakme Fashion Week

Reliance Industries’ (RIL) R Elan has partnered with Lakme Fashion Week (LFW) to launch the EarthTee2 to celebrate World Environment Day. The t-shirt, designed by Yavi, is made out of R Elan GreenGold -a fabric that has the lowest carbon footprint in the world. The fabric has been manufactured by recycling 50,000 PET bottles collected at the recently-held LFW – Summer Resort ’19 edition.

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.

07-Jun-2019

Tata Motors launches next-generation range BUV in Vietnam

Tata Motors has launched its next-generation range of Ultra Business Utility Vehicles (BUV) in Vietnam. The BUV is specially designed to meet the changing customer needs in light commercial vehicle segment, offering the comfort of an SUV with a truck like performance and profitability of a light commercial vehicle. The Ultra BUVs will cater to payloads ranging from 4 to 11 tonnes with engine capacities from 85 HP to 180 HP.

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.

07-Jun-2019

Ramky Infrastructure bags order worth Rs 494.04 crore

Ramky Infrastructure has been awarded project worth Rs 494.04 crore by Rajiv Gandhi Rural Housing Corporation in Bengaluru BMRDA area under ‘1 Lakh Multi-Storey Bengaluru Housing Programme’ for construction of multi storied residential housing units including infrastructures etc., complete on Turn Key basis (Planning, Design, Build, operate and transfer)-Package-3.

Ramky Infrastructure is the flagship company of the Ramky Group, one of the leading civil and infrastructure engineering companies in India.

07-Jun-2019

SREI Infrastructure Finance signs MoU with PFS

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

SREI Infrastructure Finance lends for financing infrastructure projects across sectors such as roads, ports, mining and power as well as purchase of infrastructure equipment.

07-Jun-2019

Cyient to make strategic investment in Cylus

Cyient is all set to make corporate venture investment in Cylus, a global leader in cybersecurity solutions for the rail industry. This investment is in line with the company’s focus on developing smarter and safer mobility solutions for the rail industry.

It brings together Cyient’s leadership position in engineering solutions for rail and focus on digitalization, with Cylus’ cybersecurity solutions developed specifically for the rail industry. The move enables Cyient and Cylus to expand their industry-specific cybersecurity value proposition, jointly address market needs, and accelerate the development of cutting-edge cybersecurity solutions for rail.

Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems.

07-Jun-2019

Hulst B.V. increases stake in NIIT Technologies to 33.11%

Hulst B.V. has acquired 6,559 equity shares with face value of Rs 10 each of NIIT Technologies, on June 6, 2019. After this acquisition, the entity’s stake in the company has been increased from 33.10% to 33.11%.

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.

07-Jun-2019

CreditAccess Grameen completes securitisation of Rs 110.35 crore

CreditAccess Grameen has completed securitisation of Rs 110.35 crore on June 06, 2019. This is the first securitization transaction initiated during the FY20.

The entire securitisation pool qualifies for Priority Sector treatment as per the guidelines prescribed by the Reserve Bank of India. Further, Securitization pool has been rated Provisional ‘ICRA A (SO)’ by ICRA, which signifies adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

CreditAccess Grameen is a leading Indian micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India. Its wide range of lending products addresses the critical needs of its customers throughout their life cycle and includes income generation, family welfare, home improvement and emergency loans.

07-Jun-2019

Vodafone Idea, Microsoft partner for cloud services

Vodafone Idea and Microsoft have entered into partnership for cloud services. The partnership will allow customers to connect to their applications on Microsoft Azure through a private connection.

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.

07-Jun-2019

Indian Hotels Company’s Campton Place Restaurant bags second Michelin Star

The Indian Hotels Company’s (IHCL) iconic brand Taj’s Campton Place Restaurant in San Francisco has earned its second Michelin Star, establishing it as the only Indian-influenced restaurant in the United States and Europe to obtain this recognition. The year 2019 marks Campton Place Restaurant’s tenth consecutive year as a Michelin-starred restaurant, firmly instituting Chef Srijith among the culinary elite.

Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia’s largest and finest hotel company. It operates in the luxury, premium, mid-market and value segments of the market.

07-Jun-2019

Elgi Equipments showcases upgraded encapsulated screw air-compressors

Elgi Equipments has showcased an upgraded range of encapsulated (ENCAP/EN) screw air-compressors with variable frequency drives (VFD) and heat recovery systems. As part of the exhibits during the five-day INTEC, an international trade fair, Elgi also displayed its range of EG Series screw air-compressors and direct drive piston compressors.

Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.

07-Jun-2019

Alembic Pharma planning to raise capital via NCDs

Alembic Pharmaceuticals is planning to raise capital through way of issuance of Non-Convertible Debentures (NCDs) on Private Placement Basis. The Board of Directors of the Company at its meeting to be held on June 12, 2019 to consider the same.

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

07-Jun-2019

Piramal Enterprises planning to raise capital via NCDs

Piramal Enterprises is planning to raise capital through issue of secured, Redeemable Non-Convertible Debentures (NCDs) on private placement basis. The issue size of the NCDs is upto Rs 200 crore with an option to retain oversubscription of upto Rs 100 crore. The total size of the issue is Rs 300 crore. The Board of Directors of the Company at its meeting to be held on June 11, 2019 to consider the same.

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

07-Jun-2019

Shree Pushkar Chemicals expects over Rs 650 crore revenue by FY21

Shree Pushkar Chemicals and Fertilisers is expecting over Rs 650 crore revenue by 2020-21 on the back of capacity addition and revamp of its existing units. The company closed 2018-19, with Rs 454 crore revenue which includes the sales of Kisan Phosphates, a 100 per cent subsidiary of the company.

Shree Pushkar Chemicals and Fertilisers is engaged in manufacturing and trading activities of dyes intermediates. It offers dyestuffs, dye Intermediates, sulphur base acids, animal feed additives manufactured, reactive dyes, oleum acids and chloro sulphonic acid.

07-Jun-2019

Castrol bags Rajasthan State Government CSR Award for its programme ‘Castrol Sarathi Mitra’

Castrol India has received the prestigious Rajasthan State Government CSR Award for its flagship CSR programme– Castrol Sarathi Mitra. It was adjudged winner basis various parameters including project relevance, design, innovation, scalability and impact.

The objective of this programme is for truck drivers to be a part of the Castrol Sarathi Mitra eco-system for an extended period of time enabling them towards safe driving, healthy living and financial empowerment.

Castrol India is an India-based company engaged in providing coke and refined petroleum products. The company is involved in manufacturing lubricating oils.

07-Jun-2019

Castrol launches CSR programme for mechanics ‘Castrol Eklavya’ in Karnataka

Castrol India has launched its flagship CSR programme for mechanics ‘Castrol Eklavya’ in Karnataka. The curriculum of the programme focuses on life skills, practical training, business skills and financial literacy training for mechanics to drive inclusive growth.

Castrol India is an India-based company engaged in providing coke and refined petroleum products. The company is involved in manufacturing lubricating oils.

07-Jun-2019

Bajaj Finance brings back its successful ‘Fit For Life’ campaign

Bajaj Finance, the lending arm of Bajaj Finserv, is aiming to further penetrate the health and wellness ecosystem of India by bringing back its successful FitForLife campaign. Under the FitForLife campaign, customers can avail hassle-free EMI options for a gamut of fitness and wellness products and treatments available on the Bajaj Finserv EMI Network. The campaign commences from June 06, just ahead of Global Wellness Day and will go on till June 17.

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.

07-Jun-2019

UPL unveils new brand expression

UPL has unveiled its new brand expression. The new brand brings its OpenAg purpose to life, activating its ambition to sustainably transform agriculture across the planet.

The new brand unites UPL’s global employees, embedding the belief that ‘nothing is impossible’. The work also strengthens the cross-border collaboration between UPL’s vast network of partners, distributors, farmers, suppliers and retailers.

UPL is global player of crop protection products has customer base in 123 countries. It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, USA, UK, Vietnam and Zambia.

07-Jun-2019

HPCL, IOC to contest tax authorities demand for over Rs 4,000 crore in excise duty

Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC) to contest tax authorities demand for over Rs 4,000 crore in excise duty on ethanol used for doping petrol, as the sugarcane extract for mixing in fuel is exempt from tax.

The Director-General of GST in Pune has asked the company, to pay over Rs 346 crore, while IOC was slapped with a tax demand of Rs 4,002 crore for alleged non-payment of excise duty on ethanol mixed in petrol.

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.

07-Jun-2019

APIS India achieves Rs 102 crore revenue mark in FY19

APIS India has reached a milestone of Rs 102 crore revenue in the fiscal year 2018-19. The company which has been into B2B exports of honey and domestic private labels since 1924, ventured into manufacturing its own brand products in the year 2015, has successfully been able to prove its expertise in the business by reaching the 102 crore mark in just 3 years of time.

Currently, the company is focusing on expansion across India and plans to make future investment in domestic B2C business, back-end infrastructure, manufacturing and marketing activities.

Apis India Ltd has a strong presence in domestic market as well as is a leading exporter of Honey from India to major international markets.

07-Jun-2019

RIL planning to spend Rs 2,270 crore to remove production bottlenecks at Vadodara Facility

Reliance Industries (RIL) is planning to spend Rs 2,270 crore to remove production bottlenecks at its flagship Vadodara Manufacturing Division (VMD) as part of a plan to increase petrochemical output. The planned modifications and de-bottlenecking would result in enhanced production, with minimum investment on supporting facilities than that required for setting up new stand-alone production units.

07-Jun-2019

RITES bags export order worth Rs 200 crore

RITES has bagged an additional export order aggregating to Rs 200 crore form Sri Lanka Railways for supply of passenger coaches. This is in addition to the earlier order for supply of 06 Nos. of Diesel Multiple Units from Sri Lanka Railways.

RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.

07-Jun-2019

ACC commits to sustainable construction

ACC has committed to sustainable construction. By continuously adopting clean and green technologies, pursuing improvements in thermal and electrical energy efficiency, consuming energy from renewable sources and increasing blended cements portfolio, the company is reducing its level of impact on the environment.

This World Environment Day, the company has created 2 films to encourage people to take positive action in whatever small way they can to protect the environment.

ACC is India’s foremost manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

07-Jun-2019

M&M’s arm in talks with global players to supply EV powertrains

Mahindra Electric, the electric vehicle arm of Mahindra & Mahindra (M&M) is in talks with global automotive manufacturers to supply electric vehicle (EV) powertrains. The company will start supplies of such electric vehicle parts to group firm Ssangyong Motor, by early 2021.

Moreover, the company is also setting up a state-of-the-art global R&D centre at Bangaluru for battery, motors, power electronics with investments of up to Rs 400 crore. It would be operational in the next 18-20 months.

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.

07-Jun-2019

Network 18 Media’s arm raises fresh round of funding from Skyblue Buildwell

Network 18 Media & Investments’ associate company — TV18 Home Shopping Network (HomeShop18) has raised a fresh round of funding from ‘Skyblue Buildwell’, a new investor. The existing shareholders namely: Network18 Media & Investments, SAIF Partners, GS Home Shopping South Korea, OCP Asia, CJO Shopping Company and Providence Equity Partners have not participated in this round.

After the investment, Skyblue holds 82.64% of HomeShop18, becoming the holding company and promoter of HomeShop18. With this investment, HomeShop18 has ceased to be a subsidiary of NW18 HSN Holdings Pic and an associate of Network18 Media & Investments. Accordingly, the Company is in the process of changing its corporate as well as brand name.

Network 18 Media & Investments leading full play media conglomerates with presence in television, print, internet, filmed entertainment, and mobile content and allied businesses.

07-Jun-2019

Hexaware Technologies wins ‘Rookie of the Year’ award at PegaWorld 2019

Hexaware Technologies has received the ‘Rookie of the Year’ award at PegaWorld, the flagship event of Pegasystems, the software company empowering digital transformation at the world’s leading enterprises. The ‘Rookie of the Year’ was awarded to company for its excellence in driving organic growth and the utilization of the University Academic Program of Pega.

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

07-Jun-2019

Tata Motors’ arm launches 2019 edition of Land Rover Discovery SUV in India

Tata Motors’ wholly owned subsidiary — Jaguar Land Rover (JLR) has launched the 2019 edition of its Land Rover Discovery SUV in India with price starting from Rs 75.18 lakh. The model will be available in four variants powered by a 2.0 litre diesel engine.

The 2019 edition offers features including electrically reclining seats, intelligent seat fold, four-zone climate control, powered third row seats, a panoramic sunroof, and adaptive cruise control, among others.

07-Jun-2019

Sagar Cements logs 8.20% growth in consolidated cement production in May

Sagar Cements has reported the cement production figures for May 2019. The company’s consolidated cement production/purchase for May 2019 stood at 277,146 million tonnes (MT), up by 8.20% compared to 245,454 MT produced in May 2018.

Further, the standalone cement production for May 2019 stood at 201,241 MT, up by 9.21% compared to 184,278 MT sold in May 2018.

Sagar Cements is a prominent player in the field of cement in Andhra Pradesh for over 3 decades adopting progressive manufacturing practices, whether it relates to maintaining high standards of quality of its products or development of its highly valued human resources or the need to keep the pollution to the barest minimum.

07-Jun-2019

OYO Hotels & Homes, Bharti Airtel partner to launch OYO Store on Airtel Thanks App

OYO Hotels & Homes and Bharti Airtel have partnered to launch OYO Store on Airtel Thanks App. Through OYO Store Airtel customers can now seamlessly book quality and affordable accommodations directly out of the Airtel Thanks app.

Additionally, customers can also make online payments seamlessly via Airtel Payments Bank. The customers have the option of making the full payments upfront or book the accommodation by paying just Rs 1 and pay the remainder later.

OYO Hotels & Homes is South Asia’s largest, China’s 2nd largest, and the world’s 6th largest and fastest-growing chain of leased and franchised hotels, homes & living spaces.

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

07-Jun-2019

JSW Steel to acquire stake in Piombino Steel

JSW Steel has agreed to acquire, by itself and through its nominees, 10,000 shares of Rs 10 each, comprising the entire issued and paid-up share capital, of Piombino Steel from JSW Techno Projects Management.

Further Piombino Steel shall, by itself and/or through nominees, acquire 8,000 shares of Rs 10 each, comprising the entire issued and paid-up share capital of Makler from JSW Techno Projects Management. Pursuant to the above, Piombino Steel shall become a wholly owned subsidiary of the Company and Makler shall become a wholly owned subsidiary of Piombino 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.

07-Jun-2019

IOC, HPCL to contest over Rs 4,000 crore excise duty demand

Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL) will contest tax authorities demand for over Rs 4,000 crore in excise duty on ethanol used for doping petrol, as the sugarcane extract for mixing in fuel is exempt from tax.

The Director-General of GST in Pune has slapped the company, with a tax demand of Rs 4,002 crore for alleged non-payment of excise duty on ethanol mixed in petrol. HPCL has been asked to pay over Rs 346 crore.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

07-Jun-2019

PNGRB fixes lower pipeline tariff for GAIL India

The Petroleum and Natural Gas Regulatory Board (PNGRB) has fixed transportation tariff of GAIL India’s main trunk natural gas pipeline at half of what the state-owned firm wanted.

The PNGRB in its transportation charge order for the 3,452 km long pipeline originating from Hazira in Gujarat and going up to Jagdishpur in Uttar Pradesh via Vijaipur in Madhya Pradesh (called HVJ pipeline) fixed levelised tariff for the integrated pipeline at Rs 41.11 per million British thermal unit (mmBtu).

This was lower than Rs 97.04 per mmBtu tariff that GAIL had sought, citing a capex spending of Rs 24,708 crore over the economic life of the pipeline lasting till 2035.

GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.

07-Jun-2019

INOX Leisure enters into marketing partnership with NBA: Report

INOX Leisure and National Basketball Association (NBA) have reportedly entered into marketing partnership to integrate the NBA into select cinemas across Hyderabad, Kolkata, Pune, Mumbai and Delhi. The company will introduce numerous NBA elements in its cinema houses, including co-branded inflatable and popcorn buckets, NBA posters and NBA jersey wall displays.

INOX Leisure is amongst India’s largest multiplex chains.

07-Jun-2019

GIPCL commissions 75 MW solar power project in Gujarat

Gujarat Industries Power Company (GIPCL) has successfully commissioned 75 MW Solar Power Project at Gujarat Solar Park, Village Charanka, District Patan in the state of Gujarat, in a phased manner on June 04, 2019.

Gujarat Industries Power Company is engaged in the business of power generation. The company is also engaged in conducting research and development operations such as identification and completion of geological survey work at chosen site and conducting seismic survey for mapping of lignite deposits at said area.

07-Jun-2019

CCI approves acquisition of EA business of L&T by Schneider and MacRitchie

The Competition Commission of India (CCI) has published the order approving the acquisition of electrical and automation (EA) business of Larsen & Toubro (L&T) by Schneider Electric India (Schneider) and MacRitchie Investments (MacRitchie).

The approval is subject to modifications that are aimed at eliminating the likely anti-competitive effects of the proposed acquisition.

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

07-Jun-2019

Wipro completes divestment in Workday and Cornerstone OnDemand Business

Wipro has completed divestment of the company’s Workday & Cornerstone OnDemand Business in Portugal, France and Sweden. The Company has received the remaining consideration of $4.73 million towards the same.

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.

06-Jun-2019

Infosys features as leader in Worldwide IT Service Management Implementation Services 2019

Infosys has been recognized as a Leader in the IDC MarketScape: ‘Worldwide IT Service Management (ITSM) Implementation Services 2019 Vendor Assessment’. The IDC MarketScape recognized Infosys for its unique ITSM offerings which include end-to-end services focusing on enhancing Customer Delight and Service Experience by building on-the-go next generation solutions with new technologies like AI and automation.

The company has made significant investment in vertical specific ITSM offerings, specifically in pharma, insurance and retail sectors. Its service management offerings run across the entire service life cycle from advisory to implementation & support to managed services thereby offering the full lifecycle of ITSM services complemented with a rich portfolio of prebuilt offerings.

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.

06-Jun-2019

Infosys’ arm inks pact with Jaggaer

Jaggaer has entered into partnership with EdgeVerve Systems, a subsidiary of Infosys, to develop innovative software products for customers in multiple industries including manufacturing, retail, logistics and higher education.

EdgeVerve offers best in class Artificial Intelligence capabilities with Infosys Nia, and Intelligent Automation (RPA) capabilities with AssistEdge. The solutions will be delivered to customers through the Jaggaer One spend management solution suite.

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.

06-Jun-2019

Infosys collaborates with Microsoft

Infosys has collaborated with Microsoft to deliver smart buildings and spaces (SB&S) solutions for the architecture, engineering, construction, facilities management and real estate development markets. Leveraging the latest digital technologies, the solutions aim to improve the entire lifecycle of building construction and operations, and the user experiences of those that manage and work in buildings.

The collaboration will benefit from Microsoft Azure services, and sensor enabled devices along with Infosys’ global network of innovation hubs, experience design and expertise in building connected ecosystems to develop SB&S solutions that will improve energy efficiencies, optimize space utilization, enable higher people productivity and deliver differentiated user experiences. Built on Azure, IoT and intelligent cloud and edge technologies, the solutions will include building system monitoring, analysis and predictive maintenance, building occupancy and space utilization analytics, as well as enhanced owner, operator, and tenant experiences.

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.

06-Jun-2019

Omax Autos to close two Haryana Units

Omax Autos has given notice of closure, to the concerned Authorities, under Section 24FFA of Industrial Dispute Act, 1947, of its Speedomax Unit, situated at 64 K.M. Stone, Delhi-Jaipur Highway, Village-Sidhrawali, Gurugram, Haryana, and Sprocket Unit, situated at 69 K.M. Stone, Delhi Jaipur Highway, Dharuhera, District Rewari, Haryana. Subject to necessary regulatory compliances, such Units are expected to be closed within sixty days.

Omax Autos manufactures a range of components for automobiles ranging from two-wheelers, three-wheelers, Off-Highway, passenger cars, commercial vehicles and railways.

06-Jun-2019

Titagarh Wagons to divest 4.49% stake in Cimmco

Titagarh Wagons (TWL) will be divesting 4.49 percent stake in its subsidiary Cimmco in the open market to pave way for the proposed merger. TWL will be selling its 4.49 percent of stake in Cimmco to bring down the holding for compliance for the proposed scheme of amalgamation. TWL holds 79.37 percent and is required to bring it down to at least 75 percent. TWL will sell offer for sale (OFS) of 12,27,415 equity shares of Rs 10 each through exchange route on June 7.

Titagarh Wagons is engaged in the business of manufacturing Railway Wagons, EMU (Rail Coaches), Bailey Bridges, Heavy Earth, Moving and Mining Equipment, Steel and SG iron castings of moderate to complex configuration etc.

06-Jun-2019

Dilip Buildcon gets provisional completion certificate for Andhra Pradesh Road Project

Dilip Buildcon has received provisional completion certificate from the authority for Andhra Pradesh Road Project and has declared the project fit for entry into commercial operation as on March 28, 2019.

The project ‘Rehabilitation and upgradation of Kathipudi-Start of Kakinada Bypass section from Km 0/000 to Km 27/500 of NH-214(New NH-216) to Four Lane with paved shoulder in the State of Andhra Pradesh Under NHDP -IV through Engineering, Procurement & Construction (EPC) basis’ has been provisionally completed.

Dilip Buildcon’s core business is undertaking construction projects across India in the roads and irrigation sectors. They specialize in constructing state and national highways, city roads, culverts and bridges.

06-Jun-2019

Bharat Dynamics, IIIT-Hyderabad establish COE for AI in Missile Technology

Bharat Dynamics (BDL) and the International Institute of Information Technology (IIIT-Hyderabad) have established a Center of Excellence (COE) for Artificial Intelligence (AI) in Missile Technology. The COE will fund technology development based on research works, Projects to explore use of AI in BDL products and improving Production processes. The COE will function as the AI Laboratory for BDL.

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

06-Jun-2019

Tech Mahindra bets big on sustainability to drive business profitability

Tech Mahindra is betting big on sustainability to drive business profitability. The company has undertaken a thoughtful and comprehensive program to reduce its absolute scopes 1 and 2 GHG (Greenhouse Gas) emissions 22% by 2030 and 50% by 2050, from a 2016 base-year.

Tech Mahindra aims to leverage technology enabled green solutions to tread on the path of responsible growth and is actively engaged in various Smart cities project to undertake a modernization drive. Tech Mahindra was recently recognized for its leadership on climate change and awarded MSP (Microsoft Supplier Program) Sustainability Winner. The company has installed solar generation at its plants in Pune, Chennai, Hyderabad, Bangalore, Noida and Chandigarh.

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.

06-Jun-2019

Reliance Capital’s arm partners with Tata Memorial Hospital

Reliance Capital’s wholly owned subsidiary — Reliance Health Insurance has partnered with Tata Memorial Hospital to introduce cashless treatment facility to its customers across major Tata Memorial hospitals in India.

Tata Memorial has been a front runner as far as treatment of cancer patients in India is concerned and has contributed significantly in the field of cancer treatment. Tata Memorial Hospital is counted among the leading cancer treatment centres worldwide, funded and managed by the Department of Atomic Energy, it has cured thousands of cancer patients so far.

Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It has interests in asset management and mutual funds; life, health and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.

06-Jun-2019

Ferro Alloys Corporation suspends operations at two mines

Ferro Alloys Corporation has suspended the mining work at the company’s Ostapal Chromite Mines and Kalarangiatta Chromite mines due to additional payment sought by the contractor beyond the terms of the contract. Alternative arrangements are being made to resume the work at the earliest. The company has adequate ore to ensure continued production of Ferro-Chrome for the present.

Ferro Alloys Corporation is one of India’s largest and most established producers and exporters of High Carbon Ferro Chrome/Charge Chrome worldwide, an essential ingredient for the manufacture of steel and stainless steel.

06-Jun-2019

Tata Motors organizes free PUC checkup camps on World Environment Day

In a bid to spread the idea of a cleaner and greener world around us, Tata Motors has organized free nationwide PUC checkup camps this World Environment Day (WED) on June 05. The company’s workshops across India offered free pollution check camps to all passenger vehicle customers.

06-Jun-2019

Tata Steel reaffirms its commitment to sustainability

Tata Steel has reaffirmed its commitment to sustainability on World Environment Day 2019, celebrating the day across its operational areas including mines, plants marketing & sales office locations. The day was marked by a host of activities and initiatives across locations. The celebrations would continue through the month of June, observed as Sustainability Month.

As a responsible corporate citizen, Tata Steel is heavily invested in environmental management efforts focused on the four pillars of emissions, water management, circular economy and biodiversity. The company is committed to incorporating sustainability aspects into all facets of its business from governance, strategy formulation to execution.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.

06-Jun-2019

Marksans Pharma receives EIR from USFDA for Goa facility

Marksans Pharma has received Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its Goa facility. The inspection at the company’s facility was carried out from February 25 to March 06, 2019.

Marksans Pharma together with its subsidiaries operates as an integrated international pharmaceutical company. The company’s business is distribution of pharmaceutical products.

06-Jun-2019

MT Educare launches ‘Lakshya Prep’ for pupils of Class IX to Class XII

MT Educare has launched the concept of `Lakshya Prep’ for the pupils of Class IX to Class XII. Normal academic schedule for a Class IX to Class XII student across the city of Mumbai & Mumbai Metropolitan Region (MMR) is of 10 to 12 hours (6 to 8 hours of Junior College / School for regular curriculum and additional 3 to 4 hours of coaching class for Competitive entrance exam training). By academically supporting various High Schools (for Class IX & X) and Junior Colleges (for Class XI & XII), the company shall now ensure that the academic schedule of a student (between Class IX to Class XII) shall be structured only within 6 hours (7am to 1pm).

With unique concepts like ‘No Homework’ for teenagers as well as equal emphasis on ‘Yoga & Sports’, the students of `Lakshya Prep’ are going to be real life Ranchos in true sense. To start with, the company shall be academically supporting 10 to 12 such education ventures called as ‘Lakshya Prep High School & Junior College’ across the length & breadth of Mumbai & MMR.

MT Educare is an education service company providing education support and coaching services. The company operates through conducting commercial training, coaching, tutorial classes and activities incidental and ancillary segment. Its business segments include School Section, Science Section and Commerce Section/University etc.

06-Jun-2019

NR Agarwal Industries temporarily shuts operations of Unit 4

NR Agarwal Industries has temporarily shut down operations of its Unit 4 for annual maintenance and technical upgradation with effect from June 6, 2019. The plant is expected to resume production by June 25, 2019.

NR Agarwal Industries is an India-based company. The company is engaged in the business of manufacturing of paper boards and newsprint. The company’s products include duplex board, news print, writing and printing and Kraft paper.

06-Jun-2019

NIIT Technologies features as leader among midsize agile software development service providers

NIIT Technologies has been named as a Leader among midsize agile software development service providers that matter most, by Forrester Research Inc., an independent research and advisory firm. NIIT Technologies was recognized in the report titled, ‘The Forrester Wave: Midsize Agile Software Development Service Providers, Q2 2019.’

Forrester report evaluated 13 agile software development service providers across 22 criteria, which are grouped into three high-level categories of current offering, strategy and market presence. In the Forrester evaluation, NIIT Technologies received highest score of ‘5 on 5’ in the agile services engagement and commercial models criterion.

06-Jun-2019

HGS’ Element achieves AWS Oracle Competency Status

Element, a Hinduja Global Solutions (HGS) company has achieved Amazon Web Services (AWS) Oracle Competency status. This designation recognizes that Element provides proven technology and deep expertise to help customers architect, deploy and manage Oracle based workloads running on AWS.

Achieving the AWS Oracle Competency differentiates Element as an AWS Partner Network (APN) member that provides specialized demonstrated technical proficiency and proven customer success with specific focus on deploying Oracle on AWS. To receive the designation, APN Partners must possess deep AWS expertise and deliver solutions seamlessly on AWS.

Element , an HGS Company, is comprised of a team of strategic thinkers, marketing experts, user-centric designers and software engineers with an elemental desire to create transformative digital solutions. 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.

06-Jun-2019

L&T increases stake in Mindtree to 28.90%

Larsen & Toubro (L&T) has acquired 25,000 equity shares (with a face value of Rs 10 each) of Mindtree on June 6, 2019. After the latest transaction, L&T’s shareholding in Mindtree stands at 28.90%.

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

06-Jun-2019

Stovec Industries acquires service, spare parts business from SPGPrints BV

Stovec Industries has acquired Service and Spare Parts Business relating to Rotary Printing Equipment, which includes Designs and Drawings, Customer and Supplier Database and other related assets, each of which forms an integral part of the Service and Spare Parts Business (Service and Spare Parts Business) from SPGPrints B.V., the Holding Company of the Company. The company has entered into definitive agreement with SPGPrints BV on June 5, 2019 for the same.

Stovec Industries is an India-based company, which is engaged in the development and production of consumables for their use in textile and graphic printing industry.

06-Jun-2019

Indian Hotels Company to reduce water intensity by 5% within two years

The Indian Hotels Company (IHCL) has made an initiative to reduce overall water intensity by 5% within the next two years across all its hotels. EarthCheck, the world’s leading scientific benchmarking and certification group will conduct a monthly audit to monitor IHCL’s sustainability practices and progress.

The company has also launched a Water SMART contest wherein all hotels will participate to initiate a water intensity reduction project for three months and the model of the winning hotel / hotels will be scaled across all hotels as a best practice.

06-Jun-2019

Infosys wins Pega Partner Excellence Award at PegaWorld 2019

Infosys has been recognized by Pegasystems, the software company empowering digital transformation at the world’s leading enterprises, at the annual PegaWorld conference in Las Vegas for excellence in growth and delivery.

The company has won the Pega partner excellence award in recognition of their innovative practice development and continued investment in the growth of a strong delivery practice.

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.

06-Jun-2019

Alembic Pharmaceuticals gets USFDA approval for Carbidopa, Levodopa extended-release Tablets

Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Carbidopa and Levodopa Extended-Release Tablets USP, 25 mg/100 mg and 50 mg/200 mg.

The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Sinemet CR Tablets, 25 mg/100 mg and 50 mg/200 mg, of Merck Sharp & Dohme Corp. Carbidopa and Levodopa Extended-Release Tablets, USP are indicated in the treatment of Parkinson’s disease, post-encephalitic parkinsonism, and symptomatic parkinsonism that may follow carbon monoxide intoxication or manganese intoxication.

According to IQVIA, Carbidopa and Levodopa Extended-Release Tablets USP, 25 mg/100 mg and 50 mg/200 mg have an estimated market size of $ 24 million for twelve months ending December 2018. Alembic now has a total of 95 ANDA approvals (83 final approvals and 12 tentative approvals) from USFDA.

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

06-Jun-2019

Allahabad Bank aims to return in black in Q1

Allahabad Bank is aiming to return in the black in coming quarter on the back of tight recovery mechanism and arrest of fresh slippages. The Bank has dedicated verticals in place to ensure recovery of around Rs 2,000 crore per quarter. The bank also expects break even during Q1FY20 and thereafter to post net profits consistently.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.

06-Jun-2019

Visaka Industries setting up new unit in Tamil Nadu

Visaka Industries is undertaking expansion of its V-Boards division by setting up a new unit in the state of Tamil Nadu with a view to cater the south Indian markets more efficiently as well as to retain its position as the largest production capacity company in Fibre Cement Boards.

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.

06-Jun-2019

Dish TV launches ‘Dishkiyaon Cup’ for Cricket Fans

Dish TV India has launched ‘Dishkiyaon Cup’ – Winner Batao, Winner Ban Jao contest to leverage the World Cup fever. The contest aims to reach out to all cricket enthusiasts and provide them an opportunity to win exciting prizes. All new & existing DishTV & ZING subscribers are eligible for this contest.

The Dishkiyaon Cup contest offers an opportunity for every participant to win upto 30% cashback on their next recharge for correct predictions. 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 DishTV 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.

06-Jun-2019

Maruti Suzuki achieves three-fold jump in water savings at dealer workshops

Maruti Suzuki India has achieved three-fold jump in water savings at its workshops by adapting to dry wash initiative. The company saved over 656 million litres of water in 2018-19 across its workshops, which is 203% higher against 216 million litres of water in 2016-17. Nearly 6.9 million vehicles were washed using dry wash system at Maruti Suzuki workshops in 2018-19.

Dry wash system has helped to reduce the washing time, improve the final wash quality and reduce water consumption. The focus has been in major cities where water scarcity is prevalent. The top six cities ‘ Bengaluru, Delhi, Hyderabad, Pune, Nagpur and Chennai ‘ helped to save maximum water to the tune of 160 million litres in 2018-19.

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.

06-Jun-2019

Maxxis India partners with Hero MotoCorp

Maxxis India has partnered with Hero MotoCorp to supply scooter tyres through an original equipment manufacturing association. As a part of this association, Maxxis will supply M6000 front and rear tyres, which are designed to provide extra strength and safety to scooters.

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.

06-Jun-2019

ITC joins hands with Pune city body for plastic waste management

ITC has joined hands with the Pune Municipal Corporation and a waste-pickers cooperative to collect and process multi-layered plastic (MLP) waste in the city. The company has launched the model for sustainable management of MLP waste on an end-to-end basis in partnership with SWaCH and the Pune civic body.

In the first phase, ITC-SWaCH-PMC will operate one processing facility with a capacity to manage 200 metric tonne of MLP waste per month, providing an opportunity to 3,500 such collectors. These collectors will gather dry and wet waste separately every day, covering 8.1 lakh properties across the city.

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.

06-Jun-2019

USFDA completes inspection of Natco Pharma’s Kothur formulation facility

The United States Food and Drug Administration (USFDA) has completed a regulatory inspection of Natco Pharma’s Formulation facility in Kothur Village, near Hyderabad, India, which was conducted during the period May 30, 2019 to June 05, 2019.

At the end of the inspection, the facility received nine observations, with no repeat observations and mostly procedural in nature. The company believes that none of observations are related to data integrity and that all of the observations can be addressed within a short period of time.

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.

06-Jun-2019

JSW Steel to scale up capacity of Vijayanagar plant after 2020

JSW Steel is planning to scale up the capacity of its flagship integrated steel plant at Vijayanagar in Karnataka to 18 million tonnes per annum (MTPA) after 2020. The Vijayanagar plant currently has a 12 million tonnes per annum capacity.

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.

06-Jun-2019

KPIT Technologies unveils new visual brand identity

KPIT Technologies has unveiled its new visual brand identity. The new visual identity draws inspiration from KPITs’ technology solutions that runs in millions of vehicles around the world. It also reflects passion of people at KPIT who are in the pursuit of making mobility cleaner, smarter and safer.

At the heart of the new visual identity is an interconnected and responsive graphic system that represents KPIT’s ubiquitous technology solutions. Anchored in this graphic system is the KPIT logo that manifests in both dynamic and static ways and is a distillation of the design system. There are other elements to the visual identity framework like signature style photography, typography, tone and brand colors.

KPIT 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.

06-Jun-2019

NIIT Technologies wins ‘Partner Excellence in Growth and Delivery’ award

NIIT Technologies, Incessant Technologies and RuleTek have been recognized with ‘Partner Excellence in Growth and Delivery’ award by Pegasystems Inc. the software company empowering digital transformation at the world’s leading enterprises.

Incessant and RuleTek were presented with the award at the annual PegaWorld conference held in Las Vegas.

06-Jun-2019

ICRA, Crisil downgrade rating of DHFL’s commercial paper

Domestic rating agencies ICRA and Crisil have downgraded rating on Rs 850 crore worth of commercial paper of Dewan Housing Finance Corporation (DHFL) to ‘default’ from ‘A4’. The rating action comes as lender’s deteriorating liquidity condition. The rating of the company, which defaulted on a debt repayment earlier this week, has been removed from watch with negative implications by both the rating 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.

06-Jun-2019

SBI targets credit growth of grow 10-12% in FY20

State Bank of India (SBI) has targeted a credit growth of 10-12 percent in the current financial year (FY20), on the back of green shoots of revival in credit demand and better recoveries of loans.

In the latter part of 2018-19, the bank witnessed early signs of the turnaround that the bank had diligently and systematically been working for, and multi-pronged strategies yielded the desired results.

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.

06-Jun-2019

VA Tech Wabag inks concession agreement for Rs 575 crore contract: Report

VA Tech Wabag has reportedly inked a concession agreement for Rs 575 crore contract under the Namami Gange programme. The scope of the contract includes engineering, supply and construction of new sewage treatment plants, renovation and up-gradation of existing sewage treatment plants, rehabilitation of pumping stations and other associated infrastructure in Kolkata.

VA Tech Wabag is an India-based company engaged in the business of water treatment field. The company’s principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.

06-Jun-2019

M&M, Blu Smart to drive electric mobility revolution in India

Mahindra & Mahindra (M&M) has joined hands with Blu Smart, the pioneers in all-electric shared smart mobility, to launch a unique, connected, all-electric ride sharing service in India. As a part of this strategic partnership Blu Smart Mobility will induct 70 Mahindra eVerito premium sedans in the first phase, across Delhi/ NCR including Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad.

In future, Blu Smart will add 500 Mahindra eVeritos into its all-electric ride sharing fleet by April 2020 and further expand to other cities such as Mumbai and Pune.

06-Jun-2019

L&T Financial Services launches ‘Digital Sakhi’ programme in Tamil Nadu

L&T Financial Services has launched the ‘Digital Sakhi’ programme aimed at training over 40,000 people on digital financial inclusion in Tamil Nadu. The move comes in the backdrop of successful implementation of a similar programme in Maharashtra and Madhya Pradesh.

L&T Financial Services is brand name of L&T Finance Holdings.

06-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 04, 2019 and it will mature on September 03, 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.

06-Jun-2019

Coal India aims more than 8% growth in production in FY20

Coal India is aiming more than 8 percent growth in production at 660 million tonnes in 2019-20 compared to 607 million tonnes in the last fiscal and plans a capital expenditure of Rs 10,000 crore in the current fiscal. Besides, the target for revenue from operations (net) has been fixed at Rs 1 lakh crore for FY2019-20. The company has ended 2018-19 with a coal production of 606.88 million tonnes, against the MoU target of 610 million tonne.

Earlier, the company had inked a Memorandum of Understanding (MoU) with Ministry of Coal for its key performance areas for the fiscal 2019-20. The MoU for 2019-20 has been formulated on the lines of new DPE guidelines and finalised after discussions with the Pre-Negotiation Committee and Inter Ministerial Committee.

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.

06-Jun-2019

Wipro to acquire International TechneGroup Incorporated

Wipro has signed a definitive agreement to acquire International TechneGroup Incorporated (ITI), a global digital engineering and manufacturing solutions company.

ITI’s offerings and solutions will be consolidated as a part of Wipro’s Industrial & Engineering Services business and will function as a wholly-owned US subsidiary of the company, Wipro’s Industrial & Engineering Services provides customers with a platform to innovate and engineer the next generation of products and platforms at scale, using an approach termed as ‘Engineering NXT’.

06-Jun-2019

Viaan Industries enters into partnership with Zee TV

Viaan Industries has entered into partnership with Zee TV to air a unique live, interactive game show called ‘LagaoBoli’. The format is an exclusive IP of the company and will start airing from August 18, 2019 on Zee TV.

‘LagaoBoli’ is a new concept where TV viewers can bid LIVE for a brand new car or other products from the comfort of their home via the LagaoBoli app. The person who places the lowest unique bid will see their picture; name and location LIVE on the TV channel.

Viaan Industries was founded in Mumbai, India by renowned entrepreneur Raj Kundra and top celebrity Shilpa Shetty Kundra. The company has a strong and growing presence across the promising sunrise sectors of Entertainment (Gaming, Licensing, Animation), Health & Wellness.

06-Jun-2019

Fitch Ratings expects NTPC to generate higher operating profit in FY20

Credit rating agency, Fitch Ratings expects that NTPC will generate higher operating profits in the current fiscal. It is partly driven by improvement in availability factors across most of its power projects, resulting in lower under-recoveries.The better availability will be based on higher coal procurement from the group’s new captive mines, imports and Coal India.

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.

06-Jun-2019

Shilp Gravures to acquire 100% stake in Etone India

Shilp Gravures has received approval to acquire 100% shares of Etone India, subject to completion of various closing conditions, by way of cash consideration not exceeding Rs 11 crore (including the providing of inter corporate loans) subject to certain holdback amounts. The Board of Directors of the Company at its meeting held on June 05, 2019 has approved the same.

Shilp Gravures is India’s pioneer and undisputed leader in electro-mechanical engraving, with a substantial market share of the flexible packaging industry.

06-Jun-2019

Bharti Airtel’s arm enables BHIM UPI based payments at over 500,000 merchants

Bharti Airtel’s subsidiary — Airtel Payments Bank has enabled open loop BHIM UPI based payments at over 500,000 merchant points across India, allowing consumers to make digital payments for good and services by using any BHIM UPI enabled bank or payments app over their mobile phones.

Airtel Payments Bank’s payments solution for merchants allows consumers to make instant cashless payments from their mobile phones, directly through their savings bank accounts by just scanning a merchant OR code through their preferred BHIM UPI enabled app. Airtel Payments Bank users can also use this OR to pay directly through their Savings Bank account or wallets using the Airtel Thanks app.

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

06-Jun-2019

Zensar Technologies to demonstrate digital process automation solutions at PegaWorld

Zensar Technologies will be demonstrating digital process automation solutions at PegaWorld in Las Vegas. This annual industry event brings intelligent automation and customer experience together under one roof.

The company to showcase ‘No-Code’ test automation platform for Pega Many organizations face challenges to test automate faster development platforms like Pega. To reduce time to market, it is essential to thoroughly test the implementation time and again.

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.

06-Jun-2019

Tech Mahindra inaugurates Technology Center in St. Louis

Tech Mahindra has inaugurated a new state-of-the-art Technology Center in St. Louis, Missouri. The facility emphasizes Tech Mahindra’s commitment to strategic collaboration and helping create a future-ready technology workforce in the Midwestern United States.

The center is located in O’Fallon, MO, and will focus on developing cutting-edge technologies in areas such as micro services, automation, artificial intelligence, security, machine learning, cloud computing, big data, data and analytics, and blockchain. The center intends to create local employment opportunities and will leverage Tech Mahindra’s learning and development platforms to help train local talent in key digital skills.

06-Jun-2019

Tata Motors’ arm, BMW collaborate for next generation electrification technology

Tata Motors’ wholly owned subsidiary — Jaguar Land Rover (JLR) and BMW have joined hands to develop next generation Electric Drive Units (EDUs) in a move that will support the advancement of electrification technologies, a central part of the automotive industry’s transition to an ACES (Autonomous, Connected, Electric, Shared) future.

The strategic collaboration will build on the considerable knowledge and expertise in electrification at both companies. Jaguar Land Rover has demonstrated its leading technical capability in bringing the world’s first premium battery electric SUV to market – the 2019 World Car of the Year, the Jaguar I-PACE, as well as plug-in hybrid models; and BMW Group bringing vast experience of developing and producing several generations of electric drive units in-house since it launched the BMW i3 in 2013.

06-Jun-2019

Natco Pharma submits ANDA for Bosentan Tablets for US market

Natco Pharma has submitted an Abbreviated New Drug Application (ANDA) with Para IV certification with US Food and Drug Administration (USFDA) for the generic version of Bosentan 32mg tablets for oral suspension. Bosentan 32mg tablets are sold by Actelion Pharmaceuticals US, Inc. (acquired by Johnson & Johnson), under the brand Tracleer.

Tracleer is indicated for the treatment of pulmonary arterial hypertension. As per Johnson & Johnson’s annual report, for the year ending 2018, Tracleer had registered sales of around $268 million in the US market, and the 32 mg is one strength that is indicated for pediatric patients.

06-Jun-2019

VST Tillers Tractors reports sales of 527 tractors in May

VST Tillers Tractors has reported sales of Power Tillers and Tractors for the month of May 2019. The company has sold 1,411 Power Tillers, while the Tractors sales of the company stood at 527 units for the month ended May 2019.

VST Tillers Tractors was incorporated in technical collaboration and joint venture with Mitsubishi Heavy Industries and Mitsubishi Corporation, Japan for the manufacture of Power Tillers and Diesel Engines.

06-Jun-2019

USFDA conducts audit at Indoco Remedies’ sterile facility in Goa

US Food and Drug Administration (USFDA) has conducted audit at Indoco Remedies’ sterile manufacturing facility in Verna, Goa (Plant II) from May 27, 2019 to June 04, 2019, issuing 4 observations (483s). These observations are procedural in nature, not pertaining to data integrity.

Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.

06-Jun-2019

PSP Projects receives work orders worth Rs 155.61 crore

PSP Projects has received new work orders worth Rs 155.61 crore during the financial year 2019-20 for institutional, industrial and residential Projects from Various clients. The major orders received for Construction of Sardardham Building (Finishing and Ancillary Works) at Ahmedabad worth Rs 36.08 crore and RCC Work for Proposed Phoenix Mall at Ahmedabad Worth Rs 91.39 crore and the remaining work orders received from our repeat clients newly Torrent Pharmaceuticals, CEPT university, amongst others.

PSP Projects, the Ahmedabad-based firm is a multi-disciplinary construction firm and provides its services ranging from planning and design to construction and post-construction activities.

06-Jun-2019

HEG completes acquisition of 49% stake in Bhilwara Energy

HEG has completed the last tranche of acquisition of 49% stake in Bhilwara Energy. The company had earlier received approval from its board to increase the stake of HEG in Bhilwara Energy, an Associate Company of HEG, from 29.48% to 49%.

HEG is engaged in manufacturing of graphite electrodes, which are used by manufacturers of steel. The company’s segments include Graphite, Power and Unallocable items/others.

06-Jun-2019

TCS, Star Alliance celebrate 15th anniversary of strategic partnership

Tata Consultancy Services (TCS) and Star Alliance, the global airline network, have celebrated the 15th anniversary of their strategic partnership. The creative use of digital technologies and the smooth flow of information and analytics, tailored to each airline’s specific requirements, are resulting in a seamless experience for passengers, especially when connecting between member carriers on their journeys.

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.

06-Jun-2019

TCS wins Mediapost Appy Award in ‘Entertainment and Sports’ category

Tata Consultancy Services (TCS) has won the Mediapost Appy Award in the ‘Entertainment and Sports’ category, for the TCS New York City Marathon App. The APPY Awards acknowledge creativity and excellence in app design and those advertisers that use apps as a key element of their marketing campaigns. The TCS New York City Marathon app has won this award for the fourth consecutive year.

06-Jun-2019

Dynamic Industries reports fire accident at Ahmedabad factory

Dynamic Industries has reported fire accident at company’s factory at Plot No. 125, Vatva GIDC, Ahmedabad in the state of Gujarat. The fire has been brought under control and the other part of the plant is carrying production process and there is no loss or injury to human life. The Company has insurance coverage for this and has informed the insurance company about the incident. While the Company is in the process of ascertaining the damage caused by the fire.

Dynamic Industries is engaged in the production of Acid Dyes and Direct Dyes. The company is one of the biggest textile dye stuff exporters in India dedicated to producing quality dye stuffs and chemicals.

06-Jun-2019

Ashok Leyland partners with Suryoday Small Finance Bank

Ashok Leyland has partnered with Suryoday Small Finance Bank for vehicle loans. The two partners have signed an initial agreement to enter a strategic financing partnership for three years.

Under the pact, the bank will provide end-to-end financial solutions to Ashok Leyland’s customers for auto loans across India.

Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles

06-Jun-2019

Force Motors’ SCV & LCV production stands at 1,312 units in May

Force Motors has reported the production, sales and export of the products manufactured by the company during the month of May 2019. The company’s production of Small Commercial Vehicles (SCV) & Light Commercial Vehicles (LCV) stood at 1,312 units and Utility Vehicles (UV), Sports Utility Vehicles (SUV) & Tractors stood at 703 units.

The company’s domestic sales for SCV & LCV stood at 1,381 units and UV, SUV & Tractors stood at 708 units, while the company has exported 51 units of SCV & LCV and 30 units of UV, SUV & Tractors in month of May 2019.

Force Motors is a Pune-based commercial vehicle maker. It is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

04-Jun-2019

Japan’s PMDA completes inspection at Lupin’s Mandideep facility

The Pharmaceutical and Medical Devices Agency (PMDA), Japan has completed the Good Manufacturing Practices (GMP) inspection at Lupin’s Mandideep facility (Unit-2). The inspection was conducted between May 14, 2019 and May 17, 2019. The PMDA inspection closed with no critical or major observations.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.

04-Jun-2019

PPAP Automotive wins award from Machinist Super Shopfloor

PPAP Automotive has received an award on May 29, 2019 from The Machinist Super Shopfloor Awards 2018 in the category of ‘Productivity’ (SME).

PPAP Automotive is a leading manufacturer of high quality automotive sealing systems and exterior products in India. PPAP has an experienced engineering team, which is capable of designing and manufacturing products based on customer specifications.

04-Jun-2019

Grasim Industries raises Rs 750 crore via NCDs

Grasim Industries has raised Rs 750 crore through allotment of 7,500, 7.60% Fully-Paid Unsecured Redeemable Non-Convertible Debentures (NCDs) of Rs 10 lakh each (Series-1920/II 7.60% GIL2024), on private placement basis. These NCDs have been rated ‘AAA (STABLE)’ by CRISAL and ‘AAA (STABLE)’ by ICRA.

Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre, cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.

04-Jun-2019

Bharat Forge acquires 48.86% stake in TORL Motors

Bharat Forge has subscribed 1895 equity shares of Rs 10 each at premium of Rs 21,103 per share of TORK Motors under Tranche III in conclusion of the definitive agreements. Pending allotment of shares by TORK under ESOP Scheme to its employees, the company currently holds 48.86% of the total share capital of TORK.

Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.

04-Jun-2019

Welspun Enterprises achieves financial closure for Amravati project

Welspun Enterprises has achieved the financial closure for Amravati project. The project is for the up-gradation of Roads/Two Laning of Roads/ Two Laning of Road with paved shoulder under MRIP Package on Hybrid Annuity Mode (HAM) Package No. AM 2 Under Public Works Circle, Amravati in Maharashtra State.

The Bid Project Cost is Rs 1,460 crore and first year O&M cost of Rs 31.50 crore. The construction period is 2 years from the Appointed Date and O&M period is 10 years after Commercial Operation Date.

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.

04-Jun-2019

Sasken Technologies enters into strategic technology partnership with Cohda Wireless

Sasken Technologies has entered into a strategic technology partnership with Cohda Wireless to accelerate the adoption of V2X (vehicle-to-anything) in the connected vehicles space utilizing either cellular or DSRC (dedicated short range communication) technologies.

The companies have come together to create a complete TCU (Telematics Control Unit) software reference design that would include Sasken’s TCU software and middleware coupled with Cohda Wireless’ DSRC/C-V2X (cellular V2X) stack and applications.

Sasken Technologies offers a range of services in areas of research & development consultancy, wireless software products and software services, and works with network OEMs, semiconductor vendors, terminal device OEMs and operators across the world.

04-Jun-2019

Page Industries working towards doubling its installed capacity in next 5 years

Page Industries is working towards doubling its installed capacity from the existing 260 million pieces in the next 5 years, to meet the growing market demand and support its aggressive growth plans.

Page Industries located in Bangalore, India are the exclusive licensees of JOCKEY International Inc.

04-Jun-2019

Mahindra launches ‘Celebrate Differently’ campaign

The Mahindra Group has reinforced its long term commitment toward the environment with the launch of its first citizens’ movement, CelebrateDifferently campaign. This is the group’s rallying cry to every citizen across India to embody the change they want to see in the world. In this movement, millennials are the primary catalysts to drive environmental change.

This is a digital-first campaign, designed to evoke a sense of consciousness towards the growing climate change crisis. Under the group’s theme of RiseAgainstClimateChange, citizens’ will be engaged across all social media platforms.

04-Jun-2019

East Coast Railway enters into joint MoU with RITES, MCL

The East Coast Railway has entered into a joint Memorandum of Understanding (MoU) with RITES and Mahanadi Coal Fields (MCL) for installation of pre-fabricated toilets in circulating areas of 232 Railway Stations across Odisha.

The project will cover 172 Stations over East Coast Railway jurisdiction, 55 Stations over South Eastern Railway (SER) and 5 Stations over South East Central Railway (SECR) of Odisha.

04-Jun-2019

Datamatics Global Services features in Gartner’s 2019 Market Guide for CM BPO Service Providers

Datamatics Global Services has been recognized as one of the Representative Vendors in Gartner’s 2019 Market Guide for Customer Management (CM) BPO Service Providers. According to Gartner Customer Management (CM) contact center BPO is the process linking an organization with its existing and potential customers (such as marketing, sales and customer services), which can be categorized in four sub segments including Customer selection, Customer acquisition, Customer retention and Customer extension.

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

04-Jun-2019

Bajaj Finserv partners with Motherhood Hospitals

In a bid to expand its Life Care Finance segment, Bajaj Finserv, through its lending arm Bajaj Finance, has entered into partnership with Motherhood Hospitals, a comprehensive network of women & children hospital.

The partnership will enable patients at all Motherhood Hospitals to avail Life Care Finance (LCF) from Bajaj Finserv that converts their medical and wellness bills into an Interest-Free EMI Finance loan.

Bajaj Finserv has established itself as a financial power house with interests in insurance, lending, asset management and wealth management.

04-Jun-2019

KPI Global Infrastructure acquires entire stake in KPIG Energia

KPI Global Infrastructure has acquired 100% equity shares of KPIG Energia, Surat (SPV) on June 4, 2019, which was registered with Registrar of Companies, Gujarat on May 21, 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.

04-Jun-2019

HPCL, BPCL, IOC sign pact to form JV

Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) have signed an Agreement on June 03, 2019 for formation of a Joint Venture (JV) Company for implementation and subsequent operation of 2757 Km long LPG Pipeline from Kandla, Gujarat to Gorakhpur, UP. IOC, BPCL and HPCL would have 50%, 25% and 25% equity holding in the JV Company.

The proposed pipeline will source product from Kandla and other LPG import terminals on West Coast and two refineries at Koyali, Gujarat and Bina, MP and would directly link 22 LPG bottling plants in Gujarat (3), MP (6) and UP (13) owned by the three promoter companies. In addition, the pipeline would feed LPG through road-bridging to additional 21 LPG bottling plants in Rajasthan, Gujarat, MP, Maharashtra and UP.

The pipeline is expected to provide reliability in the supply chain of LPG. Besides economic benefit as compared to Road Transportation, movement of LPG by Pipelines shall enhance safety as well.

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.

04-Jun-2019

BPCL, IOC, HPCL sign agreement to form JV for Kandla-Gorakhpur LPG pipeline

Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IndianOil), and Hindustan Petroleum Corporation (HPCL) have signed an Agreement on June 3, 2019 for formation of a Joint Venture (JV) Company for implementation and subsequent operation of 2757 Km long LPG Pipeline from Kandla to Gorakhpur. BPCL, IndianOil, and HPCL would have 25%, 50% and 25% equity holding respectively in the JV Company.

The proposed pipeline will source product from Kandla and other LPG import terminals on West Coast and two refineries at Koyali and Bina and would directly link 22 LPG bottling plants in Gujarat (3), Madhya Pradesh (6) and Uttar Pradesh (13) owned by the three Promoter companies. In addition, the pipeline would feed LPG through road-bridging to additional 21 LPG bottling plants in Rajasthan, Gujarat, Madhya Pradesh, Maharashtra and Uttar Pradesh.

The pipeline is expected to provide reliability in the supply chain of LPG. Besides economic benefits as compared to Road transportation, movement of LPG by pipelines shall enhance safety as well.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.

04-Jun-2019

IOC, BPCL, HPCL to form Joint Venture Company

Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) have signed an Agreement on June 03, 2019 for formation of a Joint Venture Company for implementation and subsequent operation of 2757 Km long LPG Pipeline from Kandla, Gujarat to Gorakhpur, UP. IOC, BPCL and HPCL would have 50%, 25% and 25% equity holding in the JV Company.

The pipeline is expected to provide reliability in the supply chain of LPG. Besides economic benefit as compared to Road Transportation, movement of LPG by Pipelines shall enhance safety as well.

04-Jun-2019

UNO Metals sells 1.25 crore shares of Subex

UNO Metals has sold around 1.25 crore shares of Subex for Rs 6.84 per shares on the BSE on June 3, 2019. AKG Finvest has also offloaded 40.88 lakh shares of the company for Rs 6.85 per shares on the BSE on same day.

Subex is a leading telecom analytics solutions provider, enabling a digital future for global telcos.

04-Jun-2019

BHEL bags order from Indian Railways for 5000 HP AC Electric Locomotives

Bharat Heavy Electricals (BHEL) has received an order from Indian Railways for 25 nos Broad Gauge 5000 HP AC Electric Locomotives of type WAG-7 with regenerative feature. The company has successfully developed a Regenerative System for retro-fitment in locos to make them energy efficient.

The company is the first to develop such a system for these locomotives. The system has the unique feature of utilising the kinetic energy of the train while in braking mode, which is re-converted into electrical energy and is fed back to the electric grid through OHE lines. Earlier this energy was getting wasted in Dynamic Braking Resisters (DBRs) of locomotives in the form of heat.

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.

04-Jun-2019

CCI gives nod for Epsilon Bidco’s proposal to buy 75% holding in Essel Propack

The Competition Commission of India (CCI) has approved Epsilon Bidco’s proposal to buy 75% holding in Essel Propack. The company had in April announced a Rs 3,211 crore deal to raise money by selling out to buyout major Blackstone.

Essel Propack is a flagship company of the Essel group is a producer of plastic packaging material in the form of multilayer collapsible tubes and laminates used primarily for packaging of toothpaste, personal care, cosmetics, pharmaceuticals, household and industrial products.

04-Jun-2019

Swan Energy incorporates new subsidiary company

Swan Energy has incorporated a new subsidiary company ‘Swan Global PTE’ at Singapore.

Swan Energy is engaged in trading in fabric as well as in development of properties. Their activity includes manufacturing and marketing of cotton and polyester sarees and shirtings in India.

04-Jun-2019

Muthoot Capital Services completes securitization transaction of Rs 140.37 crore

Muthoot Capital Services has completed a securitization transaction of Rs 140.37 crore on May 31, 2019. This was the first securitization / direct assignment transaction carried out by the company 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.

04-Jun-2019

Future Retail allots NCDs worth Rs 199 crore

Future Retail has allotted 1,000 Secured Rated Listed Redeemable Non-Convertible Debentures (NCDs) of Rs 10,00,000 each (Series ‘ IA) and 990, Secured Rated Listed Redeemable Non-Convertible Debentures of Rs 10,00,000 each (Series – IB) aggregating to Rs 199,00,00,000 on a private placement basis.

The Committee of Directors at their meeting held on June 03, 2019, considered, approved and allotted the same.

Future Retail offers food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles.

04-Jun-2019

Gravita India’s arm starts commercial production of Lead at Ghana plant

Gravita India’s step down subsidiary— Recycler Ghana has started commercial production of Lead from its new plant situated at Ghana, West Africa, having a capacity of around 6000 MTPA. The company has plans to increase the capacity of said plant by adding further capacity of 6000 MTPA which is expected to be completed by July 2019 and after that addition the overall capacity of said plant will be 12000 MTPA.

The Group has decided to make investment of approximately Rs 21 crore for establishment of this New Recycling Plant having capacity of 12000 MTPA out of which approximately Rs 18 crore has already been invested from internal accruals of the company.

The production from the Ghana plant will provide strategic advantage to the company to cater to the European and US Market. This plant will help the company to save the logistics cost which will reduce the working capital cycle of the company resulting in better margins. The company is expecting revenue of approximately Rs 110 crore from this Lead Recycling Plant during financial year 2019-20.

Gravita India is a leading recycling company having its operations in Non-Ferrous Metals and Plastic Recycling.

04-Jun-2019

Bharti Airtel, ZEE5 strengthen strategic partnership

Bharti Airtel and ZEE5 have further strengthened their strategic partnership to enable a world-class digital content experience for Airtel mobile customers. As part of Airtel’s refreshed AirtelThanks customer rewards program, all Airtel Platinum customers will now get unlimited complimentary access to ZEE5’s vast content catalogue as part of their plan benefits. All Airtel mobile customers on Infinity Postpaid plans of Rs 499 and above will be eligible for this exclusive benefit.

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

04-Jun-2019

Zensar Technologies’ Cynosure showcases digital transformation solutions in US

Zensar Technologies’ Cynosure, a Zensar company, has showcased its digital transformation solutions designed for the insurance industry of the future. The event was held in Austin, Texas, USA from May 28 to May 31, 2019.

04-Jun-2019

Lemon Tree Hotels’ arm takes ‘Red Fox Hotel, Chandigarh’ on lease

Lemon Tree Hotels’ material subsidiary — Fleur Hotels has taken ‘Red Fox Hotel, Chandigarh’, 102 room property, on lease which was earlier being operated by Carnation Hotels, a subsidiary and management arm of the Company. Now the hotel is being operated by the Company under the same brand.

Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017.

04-Jun-2019

Maruti Suzuki unveils Mobile NEXA terminal

Maruti Suzuki India has flagged off one-of-its-kind mobile NEXA terminal, taking the NEXA experience to markets where it is currently not present. The NEXA terminal will reach out to prospective and existing customers throughout the country, giving them an opportunity to experience NEXA.

The company’s endeavour is to reach closer to customers and extend the NEXA experiences across the length and breadth of the country. While offering a similar experience like NEXA showroom, this terminal is a combination of basics of a dealership with the very essence of NEXA in a mobile environment.

04-Jun-2019

Lava Cast set to merge with Setco Automotive

Lava Cast is set to merge with its parent company Setco Automotive. Completion of this imminent merger is expected to take place on the back of Setco group purchasing all the stake owned by Lingotes Especiales S.A. (technology & JV partner) in Lava cast.

The merger would facilitate an increase in business opportunities for Setco Automotive through OEMs, further enabling the purchase of all the supplies under one vendor code. This will also result in an increase of orders from OEM’s MHCV and farm-tractor industries. Additionally, the merger would improve operational efficiency as it would result into efficient buying, economies of scale, reduction in overheads and administrative efficiencies, thereby estimating savings around Rs 5 crore per annum.

Setco Automotive is a premier manufacturer of clutch products for the Automotive and hydraulic products for Construction Equipment Industry. In addition Setco also manufactures precision engineering components like complex and deep drawn pressings and forgings and castings that are machined and heat treated.

04-Jun-2019

BSE, ICCL implement SEBI’s interoperability framework

Bombay Stock Exchange (BSE) and ICCL have gone live and implemented interoperability framework starting from June 3, 2019. This is as per the market regulator SEBI’s guidelines to put in place the required infrastructure for operationalizing interoperability.

SEBI had laid down the broad guidelines for operationalizing the interoperable framework among Clearing Corporations, which was required to be operationalized by Stock Exchanges and Clearing Corporations by June 1, 2019. BSE and ICCL had deployed the new Interoperability system on June 1, 2019. June 3, 2019 was the first trading day after implementation of Interoperability; during the day, ICCL received and cleared multiple trades from BSE and MSE.

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).

04-Jun-2019

GE Power secures contract worth Rs 738.3 crore from Aravali Power Company

GE Power India has been awarded a contract worth Rs 738.3 crore by Aravali Power Company, a Joint venture company of NTPC, Haryana Power Generation Company and Indraprastha Power Generation Company. The contract is for Design, Engineering, Civil Work, Supply, Erection and Commissioning of Wet FGD systems along with auxiliaries like Limestone and Gypsum Handling System and Wet Stack on full turnkey basis.

GE Power India is engaged in the engineering, procurement, manufacturing, construction and servicing of power plants and power equipment.

04-Jun-2019

CESC Ventures acquires 64.63% stake in Herbolab

CESC Ventures has executed an agreement on June 03, 2019 (Investment Agreement) and has acquired 64.63% shareholding in Herbolab India (Herbolab).

The investment in Herbolab will help the company expand its existing portfolio into ayurvedic products manufacturing segment. This acquisition will bring in many synergies in the company’s business and long term strategies.

CESC Ventures formerly known as RP-SG Business Process Services.

04-Jun-2019

CDPQ buys 2.20 crore shares in M&M

Caisse De Depot Et Placement Du Quebec (CDPQ) has bought 2.20 crore shares in Mahindra & Mahindra (M&M) at Rs 648 per share on the BSE on June 03, 2019. However, M M Benefit Trust has offloaded 1.92 crore shares in the company at Rs 648 per share on same day.

04-Jun-2019

TCS, Confederation of British Industry publish new research study

Tata Consultancy Services (TCS) and Confederation of British Industry (CBI) have published a new research study that highlighted the UK’s rapidly accelerating digital talent gap. The study titled ‘Delivering Skills for the New Economy’ surveyed 250 companies.

The report highlights the UK’s rapidly accelerating digital talent gap as new technologies transform the way we live and work. Currently, the UK is losing out on Pound 63 billion a year as companies struggle to find people with digital skills. This could jeopardise the UK’s competitiveness, deter investment and limit people’s ability to make the most of the opportunity technology brings.

04-Jun-2019

NBCC signs MoU with MoHUA

NBCC (India) has signed the Memorandum of Understanding (MoU) for FY2019-20 with the Ministry of Housing and Urban Affairs (MoHUA), which outlines performance targets for the company.

The signed MoU outlines performance targets for the company based on various financial parameters, dynamic parameters, sector-specific and enterprise-specific parameters.

NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.

04-Jun-2019

SAIL to expand production capacity in two phases

Steel Authority of India (SAIL) is planning for the expansion of its production capacity to 50 million tonne per annum (MTPA) in two phases. In the first phase, the company intend to reach 35 MTPA by 2025-2026, and the rest 15 MTPA in the second phase will be completed by March 31, 2031.

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.

04-Jun-2019

M&M’s arm, Mitsui to co-invest in distributed solar power projects in India

Mahindra & Mahindra’s (M&M) subsidiary — Mahindra Susten, a leading player in the Indian solar energy sector, has entered into a partnership with Mitsui & Company, of Japan to jointly develop and operate distributed solar power generation projects in India.

Mahindra Susten will continue to hold 51% stake in Marvel Solren, with Mitsui holding the balance equity. Marvel currently operates four distributed solar projects in India with a combined capacity of 16MW that help private clients reduce their carbon footprint by providing renewable energy through long-term power purchase agreements of 10-25 years.

04-Jun-2019

M&M to launch BS-VI compliant vehicles in next year

Mahindra & Mahindra (M&M) is ready to launch its BS VI compliant vehicles next year and will be rolling out the petrol range in 2019 itself. The company has invested Rs 1,000 crore for transition to BS-VI norms.

The Bharat Stage VI (or BS-VI) emission norms would come into force from April 1, 2020 across the country. Currently, the vehicles sold in the country conform to BS-IV emission standards.

04-Jun-2019

L&T to sell 3.88% stake in L&T Technology Services

Larsen & Toubro (L&T) is all set to sell up to 40.34 lakh equity shares representing 3.88% of the total paid up equity share capital of L&T Technology Services of face value of Rs 2 each on June 04, 2019 (for non-Retail Investors only) and on June 06, 2019 for Retail Investors and for Non-Retail Investors who choose to carry forward their un-allocated bids.

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

04-Jun-2019

Vodafone Idea launches new pack at Rs 229

Vodafone Idea has launched new pack at Rs 229, offering daily 4G data of 2GB, along with unlimited local and STD calls, free roaming, and 100 SMS per day. The plan is valid for a cycle of 28 days. The new plan joins Vodafone’s already existent plan of Rs 199, which offers 1.5GB data per day, alongside the other perks.

04-Jun-2019

Google Widevine selects Tata Elxsi as Certified Widevine Implementation Partner

Google Widevine has selected Tata Elxsi as a Certified Widevine Implementation Partner. Tata Elxsi’s strong ecosystem in the PayTV Broadcast and OTT markets will help to widen the adoption of Widevine CAS solutions by customers. Effective and timely implementation will secure distribution and protect content playback on any consumer device, thus ensuring continuous revenue generation for operators.

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.

04-Jun-2019

Vikas WSP planning to enter into new project

Vikas WSP is planning to enter into new project. In this regards the company’s Board of Directors have asked the technical and engineering department of the company to prepare a Detailed Project Report (DPR) for the Food Grade Guar Protein (Vegetal and Complete Protein) project with an outlay of Rs 315 crore and also for Gluten Free Flour project with an outlay of Rs 196 crore for onward placing.

Vikas WSP is one of India’s foremost guar gum powder (GGP) manufacturer, supplying to all sectors of the food industry with an extensive range of quality products.

04-Jun-2019

Fitch downgrades ICICI Bank’s IDR to ‘BB+’

Global rating agency Fitch has downgraded ICICI Bank’s Long-Term Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-‘ and its Viability Rating to ‘bb+’ from ‘bbb-‘. The Outlook on the IDR is stable. It has also affirmed ICICI’s Support Rating at ‘3’ and Support Rating Floor at ‘BB+’.

BB rating indicates speculative grade while BBB points at good credit quality. The rating action comes as financial health of the private sector banks has weakened amid the challenges the bank faces in its operating environment.

ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.

04-Jun-2019

Shivam Autotech reports 11% rise in May sales

Shivam Autotech has achieved around 11% increase in sales in the month of May 2019 compared to corresponding month in the previous financial year.

Shivam Autotech is engaged in the manufacture of several different kinds of gears Spline Shafts.

04-Jun-2019

Bharti Airtel’s arm to proceed with listing of shares on London Stock Exchange

Bharti Airtel’s subsidiary — Airtel Africa is planning to proceed with an initial public offering (IPO), for admission and listing of its shares on the main market of the London Stock Exchange (Premium Segment). The Offer is targeted to raise $750 million (plus a primary greenshoe option of up to 15%) and will be used to reduce the net debt. Further, Airtel Africa is also considering a listing of its shares on the Nigerian Stock Exchange.

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

04-Jun-2019

Dr. Reddy’s Lab re-launches Zenatane

Dr. Reddy’s Laboratories has re-launched Zenatane (Isotretinoin Capsules, USP), 10 mg, 20 mg, 30 mg and 40 mg a therapeutic equivalent generic version of Accutane, approved by the US Food and Drug Administration (USFDA). The product is being launched with an approved Risk Evaluation and Mitigation Strategy (REMS) Program.

Zenatane (Isotretinoin Capsules, USP), 10 mg, 20 mg, 30 mg and 40 mg brand and generic had US sales of approximately $525 million MAT for the most recent twelve months ending in March 2019 according to IQVIA Health.

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.

04-Jun-2019

Vikas WSP gets nod to increase authorised share capital of the Company

Vikas WSP has received approval to increase the authorised share capital of the Company from existing Rs 28.75 crore to Rs 75.00 crore. The Board of Directors of the Company at its meeting held on June 03, 2019 has approved the same.

Vikas WSP is one of India’s foremost guar gum powder (GGP) manufacturer, supplying to all sectors of the food industry with an extensive range of quality products.

03-Jun-2019

Gujarat Alkalies commissions 7.5 MW solar power plant at Charanka

Gujarat Alkalies & Chemicals has commissioned 7.5 MW solar power plant at Charanka, out of 20 MW, on May 31, 2019.

Gujarat Alkalies and Chemicals is engaged in business of manufacturing basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, hydrochloric acid, caustic potash, potassium carbonate, phosphoric acid (85%) and hydrogen peroxide.

03-Jun-2019

Atul Auto reports 13% fall in sales during May

Atul Auto has reported sale of 3,464 units for the month of May 2019, a fall of 13.03%, as compared to 3,983 units sold in May 2018. Total Sales from April to May 2019 stood at 6,810 units.

Atul Auto is a leading manufacturer of 3-Wheeled Commercial Vehicles in the state of Gujarat, presently engaged in the manufacturing of Three Wheelers like 6-seater Auto Rickshaws, Pick-Up Vans and Chassis of Passenger Vehicles.

03-Jun-2019

Escorts Agri Machinery Segment reports 18% fall in tractor sales in May

Escorts Agri Machinery Segment (EAM) has reported sale of 6827 tractors in May 2019 as compared to 8325 tractors in May 2018, registering fall of 18%.

The domestic sales for the month of May 2019 stood at 6488 tractors, down by 19.8% as against 8087 tractors in May 2018. However, exports for May 2019 stood at 339 tractors against 238 tractors sold in May 2018, registering 42.4% rise.

Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 80 HP. The company also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.

03-Jun-2019

IndiGo wins ‘Customer choice Airline of the Year’ at BIAL Pinnacle Awards 2019

Interglobe Aviation (IndiGo) has been bestowed with ‘Customer choice Airline of the Year’ at Bangalore International Airport (BIAL) Pinnacle Awards 2019. BIAL conferred five awards on IndiGo spread across prestigious categories including Airline with Best Growing Network – Domestic, Customer choice Airline of the Year – Domestic, Cargo Airline of the Year – Domestic, Passenger Airline of the Year-Domestic Low Cost, and Passenger Airline of the Year-International Low Cost.

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

03-Jun-2019

Indian Overseas Bank launches ‘Cheque Lodgement Kiosk’

Indian Overseas Bank (IOB) has launched self-service ‘Cheque Lodgement Kiosk’ at major commercial centers to facilitate round the clock acceptance of clearing cheques. This facility will enable the customers, especially the business community in commercial areas, to conveniently use the kiosks for 24×7 deposit of cheques removing constraint of branch customer timing.

These kiosks are fully integrated with the existing Cheque Truncation System (CTS) resulting in minimum human intervention and value addition in our customer service. This is a necessary intermediate stage in the path of moving most customers to a self-service digital mode.

Indian Overseas Bank is a pioneer in many fields – Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.

03-Jun-2019

Glaxosmithkline Consumer Healthcare gets shareholders’ nod for merger with HUL

Glaxosmithkline Consumer Healthcare has received approval from its shareholders for merger with Hindustan Unilever (HUL). The company has received 99.99 percent votes in favour of the scheme of amalgamation among the company and HUL in the National Company Law Tribunal-convened meeting of the equity shareholders on June 1, 2019.

Glaxosmithkline Consumer Healthcare’s core business is manufacturing of health drinks under the brand Horlicks.

03-Jun-2019

Alankit’s arm to provide secure e-Sign service

Alankit’s subsidiary — Verasys Technologies has entered into the electronic signature space to provide secure e-Sign service under the brand name Vsign.

Armed with a Digital Signature Certificate (DSC) as a Certified Authority (CA) issued by the CCA (Control of Certifying Authority), Alankit via Verasys Technologies offers secure e-signatures with diverse, inbuilt functionalities including user consent, Digital Signature Certificate issuance request, Digital Signature creation and affixation and an established audit trail to confirm the authenticity of transactions and data integrity, all in conformity with the regulatory framework and relevant provisions of the Information Technology Act.

Alankit, a market leader and eminent name in the industry today, is a more than two-decade-old conglomerate, having diversified operations in the vital segments like e-Governance, Financial Services, Healthcare and Insurance Broking.

03-Jun-2019

Eicher Motors’ motorcycle division reports 17% fall in May sales

Eicher Motors’ motorcycle division has reported 17% fall in sales at 62,371 units in May 2019 as compared to 74,697 motorcycles sold in May 2018. During May 2019, export of number of motorcycles marginal decreased by 1% to 2,160 units from 2,187 units in May 2018.

The company’s sales of vehicles with engine capacity up to 350 cc decreased by 19% at 55,833 units in May 2019 against 68,813 units in the same period year ago. However, the sales of its vehicles with engine capacity exceeding 350 cc increased by 11% at 6,538 units as against 5,884 units in May last year.

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.

03-Jun-2019

Eicher Motors’ JV reports 20% fall in May sales

Eicher Motors and Volvo Group’s joint venture (JV) — VE Commercial Vehicles has reported sales of 4,801 units in May 2019 as compared to 5,977 units in May 2018, recording decline of 19.7%. This includes 4750 units of Eicher brand and 51 units of Volvo brand.

Eicher branded trucks & buses have recorded sales of 4,750 units in May 2019 as compared to 5,874 units in May 2018, representing a decline of 19.1%. In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4,446 units in May 2019 as compared to 5,268 units in May 2018, representing a decline of 15.6%. On the Exports front, Eicher branded trucks & buses have recorded sales of 304 units in May 2019 as compared to 606 units in May 2018, representing a decline of 49.8%.

03-Jun-2019

Sheetal Cool Products receives two certificate from SP Certification

Sheetal Cool Products has received two certificate HACCP (Hazard Analysis & Critical Control Points) and HALAL (Complies with the requirements of CODEX Alimentarius Official Standard: CAC/GL 24-1997) on May 31, 2019 from SP Certification, London.

Sheetal Cool Products are engaged in manufacturing of Ice-cream, milk & milk products, mango ras, lassi, curd, flavoured milk, Masko, wafers, namkeen, fryums and bakery products.

03-Jun-2019

Tata Motors touched over 7 lakh lives in 12 months

Tata Motors has been pioneering its corporate social responsibility agenda to promote Health, Education, Employability and the Environment. Community development as well as the scope and depth of its operations have grown exponentially over the years. Reinforcing its commitment towards nation building, Tata Motors has touched over 7 lakh lives of which nearly 40% belong to the SC and ST communities.

03-Jun-2019

Saregama launches Carvaan Mini Legends in Bengali

Saregama India has launched yet another regional variant of Carvaan Mini pre-loaded with 351 Superhit Retro Bengali songs by legendary singers like Hemanta Mukherjee, Lata Mangeshkar, Kishore Kumar, Asha Bhosle, Manna Dey amongst others.

This portable Bluetooth speaker not only offers pre-loaded retro Bengali superhits but also supports other features like FM/AM, AUX and USB to play other personal collection of music. This all-in-one speaker has long lasting battery backup of 4-5 hours along with 6 months warranty.

Saregama India is engaged in manufacturing, selling and dealing of gramophone records, radio receivers, radiograms, record players, record producers, pick-up cartridges, components and accessories thereof and other allied products.

03-Jun-2019

TVS Motor registers sales of 307,106 units in May

TVS Motor Company has registered sales of 307,106 units in May 2019 as against 309,865 units in the month of May 2018. Total two-wheelers registered sales of 294,326 units in May 2019 as against 298,135 units in May 2018. Domestic two-wheeler sales registered sales of 236,807 units in May 2019 as against 246,231 units in May 2018.

Motorcycle sales grew by 13% with sales increasing from 126,711 units in May 2018 to 142,787 units in May 2019. Scooter sales of the company grew by 2% from 95,879 units in May 2018 to 98,202 units in May 2019.

The company’s total exports grew by 11% from 62,218 units registered in the month of May 2018 to 69,319 units in May 2019. Two-wheeler exports grew by 11% increasing from 51,904 units in May 2018 to 57,519 units in April 2019.

Three-wheeler of the company grew by 9% increasing from 11,730 units in May 2018 to 12,780 units registered in May 2019.

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

03-Jun-2019

USFDA concludes inspection at Cadila Healthcare’s manufacturing facilities in St. Louis

United States Food and Drug Administration (USFDA) has concluded inspection at Cadila Healthcare’s manufacturing facilities located at St. Louis, MO, USA of Nesher Pharmaceuticals (USA) LLC (100% subsidiary of Zydus Pharmaceuticals USA). The inspection was carried out from May 13 to May 31, 2019. The inspection concluded with 3 observations at one facility and 8 observations at the other facility of Nesher Pharmaceuticals with a recommendation for Voluntary Action Indicated (VAI).

This was a product specific pre-approval inspection with general cGMP and there were no Data Integrity (DI) related observations. The company is confident of addressing these observations and responding to the USFDA at the earliest.

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.

03-Jun-2019

SSWL reports total wheel rim sales of 12.10 lakh in May

Steel Strips Wheels (SSWL) has reported total wheel rim sales of 12.10 lakh in May 2019 against 13.68 lakh in May 2018 representing de-growth of 1% Y-o-Y.

The company has achieved gross turnover of Rs 195.10 crore in May 2019 against Rs 220.88 crore in May 2018, there by recording a de-growth of 12% and achieved Net turnover of Rs 160.15 crore in May 2019 against Rs 174.11 crore in May 2018, recording a de-growth of 9%.

SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.

03-Jun-2019

CRISIL upgrades credit rating of Motilal Oswal Financial Services’ arm

Credit rating agency, CRISIL has upgraded the credit rating of Motilal Oswal Financial Services’ material subsidiary — Motilal Oswal Home Finance (MOHFL) (erstwhile Aspire Home Finance Corporation) to ‘AA-/Stable’ from ‘A+ /Stable’ on Bank Loan facilities and Non-Convertible Debentures.

Further, the rating agency has re-affirmed rating of ‘A1+’ on Commercial Paper and assigned rating of ‘PP-MLD AA-r/Stable’ on Long Term Principal Protected Market Linked Debentures of MOHFL.

Motilal Oswal Financial Services offers a range of financial products and services, such as wealth management, retail broking and distribution, institutional broking, asset management, commodity broking, private equity, investment banking, and principal strategies.

03-Jun-2019

APL Apollo Tubes acquires production unit of Taurus Value Steel & Pipes

APL Apollo Tubes has completed acquisition of production unit of Taurus Value Steel & Pipes — a subsidiary of Shankara Building Products. The production unit is located at Chegunta in the state of Hyderabad.

APL Apollo Tubes is a leading manufacturer and exporter of Steel Pipes & Tubes, Aluminised Steel Tubes, Black Steel Tubes, Hot Dipped & Pre Galvanised Steel Tubes, Fence Tubes and Structural Steel.

03-Jun-2019

PI Industries, Harsha Trust extend CSR intervention with Fiinovation

Innovative Financial Advisors (Fiinovation) along with PI Industries and Harsha Trust have extended their CSR intervention for another two years in Rayagada district in Odisha.

Began in 2017, the intervention aims at enhancing agri-based farm income of small and marginal farmers by adopting Good Agricultural Practises (GAP) and market-led interventions. The project has till date benefitted 1300 farmers from forty-five villages of Rayagada district.

PI Industries is engaged in the business of- Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services.

03-Jun-2019

BHEL bags DSIJ Award 2018 for fastest growing Maharatna

Bharat Heavy Electricals (BHEL) has been awarded the Dalal Street Investment Journal (DSIJ) Award 2018 for the ‘Fastest Growing Maharatna of the year – Manufacturing’, in the country. An independent jury unanimously selected the company for the recognition in the manufacturing category based on outstanding profit and Earnings Per Share (EPS) growth.

The company’s transformational journey of continued commitment and efforts to deliver on its purpose-to help in building a New BHEL, and a New India, has resulted in the company continuing on the path of improved performance.

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.

03-Jun-2019

TCS launches MasterCraft TransformPlus 4.0 with new cognitive features

Tata Consultancy Services (TCS) has launched MasterCraft TransformPlus 4.0, a major upgrade of the product, with new cognitive features for analysis and modernization of legacy applications. The new release will help enterprises embarking on digital transformation journeys further reduce the risk of business disruption and ensure high quality outcomes.

TCS MasterCraft TransformPlus is an intelligent automation product for end-to-end enterprise application modernization, supporting a wide range of programming languages in the market, from legacy to modern technologies.

03-Jun-2019

M&M’s FES registers 17% fall in domestic sales in May

Mahindra & Mahindra’s (M&M) Farm Equipment Sector (FES) has reported domestic tractor sales of 23,539 units in May 2019, as against 28,199 units during May 2018, registering a fall of 17%. Total tractor sales (domestic + exports) during May 2019 were at 24,704 units, as against 29,330 units for the same period last year. Exports for the month stood at 1165 units.

03-Jun-2019

Everest Group positions Datamatics’ TruCap+ as major contender in IDP products PEAK Matrix Assessment

Datamatics Global Services has been recognized as a Major Contender in Everest Group’s PEAK Matrix for Intelligent Document Processing for its product TruCap+, formerly known as TruOCR.

Everest Group recently released its report titled ‘Intelligent Document Processing (IDP) – Technology Vendors Landscape with Products PEAK Matrix Assessment 2019.’ The report provides a detailed view of the IDP technology vendor landscape and a thorough assessment of the various IDP technology solutions across several key dimensions.

The report mentions TruCap+, formerly known as TruOCR, as a contemporary IDP product that can process all types of documents by understanding the underlying context by leveraging its proprietary ML and NLP capabilities. The report also mentions Datamatics’ process expertise in automating relatively complex use cases such as customer service requests and regulatory compliance particularly due to its background in IT and BPS. Everest Group further mentions that reference clients are highly satisfied with its product support, integration with RPA and other critical systems, and flexibility to adapt to their business requirements.

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

03-Jun-2019

Suprajit Engineering to acquire Halogen Bulb manufacturing facility from Osram India

Suprajit Engineering has entered into an Asset Purchase Agreement to acquire the Halogen Bulb manufacturing facility near Chennai from Osram India. This plant to produce comprehensive range of halogen bulbs includes land, building and a complete range of manufacturing facilities. The transaction is expected to be completed by the end of September 2019 and will be funded by internal accruals.

With this acquisition, Suprajit’s Halogen Bulb’s annual capacity will increase from 87 million to about 110 million. Suprajit will emerge as one of top 3 manufacturers of Halogen Bulbs in the world. Through a separate agreement, Suprajit will become a part of the global supply chain to Osram and will start to supply Halogen bulbs from its plants in India including the acquired plant near Chennai.

Suprajit Engineering is India’s most preferred manufacturer of cables and instruments and meets the demand of virtually every major OEM in the automotive sector.

03-Jun-2019

Transpek Industry taking necessary steps to restore operations of plants in Gujarat

Transpek Industry is closely working with the offices of the Factory Inspector and the Gujarat Pollution Control Board for restoring operations of its plants and appropriate actions are being undertaken as per the directions received from them. For the present, operations stand suspended. The company is, however, taking all the necessary steps for restoring normal operations as soon as possible.

Earlier, there was an accidental leakage of certain liquid chemicals in one of the Acid Chloride Plants of the company at Village: Ekalbara, Taluka: Padra, District: Vadodara, Gujarat on May, 08, 2019. Upon receipt of notices from the Factory Inspector and the Gujarat Pollution Control Board, operations in all the plants stand suspended.

Transpek Industry is one of the leading manufacturers and exporters of a range of chemicals servicing the requirements of customers from a diverse range of industries – textiles, pharmaceuticals, agrochemicals, polymers, etc.

03-Jun-2019

Triveni Engineering to buyback 3.88% stake

Triveni Engineering & Industries has received approval for buyback of fully paid up equity shares of the company having a face value of Rs 1 each equity shares, not exceeding 1 crore equity shares, representing 3.88% of the paid up equity share capital of the Company as at March 31, 2019, at a price of Rs 100 per equity share payable in cash for an aggregate amount not exceeding Rs 100 crore. The Board of Directors of the Company at its meeting held on June 03, 2019 has approved the same.

Triveni Engineering & Industries is engaged in the business of manufacturing sugar, steam turbines and projects and engineering activities.

03-Jun-2019

SpiceJet to start flights on Guwahati-Dhaka route from July 1

SpiceJet will start flights on the Guwahati-Dhaka-Guwahati route from July 1, 2019 onward under the central government scheme UDAN International. The July 1 flight from Guwahati to the Bangladesh capital would be the first to fly under the UDAN International scheme, which seeks to enhance air connectivity between Indian states and selected international destinations with the help of government subsidies.

In addition, the airline also announced that it is launching 14 direct flights connecting metro and non-metro cities on its domestic network from June 20 onward. The airline will add additional frequencies on the Kolkata-Dibrugarh-Kolkata (2nd frequency), Guwahati-Dibrugarh-Guwahati (2nd frequency) and two additional frequencies on Bengaluru-Mangaluru-Bengaluru sector (total five flights now). It will also introduce new daily flights on the Bengaluru-Belagavi-Bengaluru route.

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

03-Jun-2019

SpiceJet planning to hire up to 2,000 staff of Jet Airways

SpiceJet is planning to hire up to 2,000 staff, including pilots and cabin crew, of the defunct Jet Airways as the no-frills carrier continues to expand its operations. The airline has taken at least 22 planes that were earlier used by Jet Airways, which temporarily shuttered its operations due to cash crunch in April.

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

03-Jun-2019

Rodium Realty gets full occupancy certificate for project ‘Xpoint’

Rodium Realty has received Full Occupancy Certificate (O.C) for one of its Residential & Commercial project known as ‘Xpoint’ located at S.V. Road, Kandivali (West), Mumbai from Municipal Corporation of Greater Mumbai.

Rodium Realty is an avantgarde organization in the field of property development, project management, building management and build to suit solutions.

03-Jun-2019

Power generating firms ask Coal India to step up coal supply through rail wagons

Power generating companies have asked Coal India to increase the supply of the dry fuel from Korba area in Chhattisgarh through rail wagons to help them reduce transportation cost as well as tariffs for end-consumers.

According to Association of Power Producers (APP), Korba region serves 20 percent of the domestic coal supply but Coal India-arm South Eastern Coalfields (SECL) is able to meet only 55 percent of its demand from the region through rail. The APP in a letter to Coal India mentioned that power producers are incurring around 25 per cent higher costs to move coal by road as against rail mode.

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.

03-Jun-2019

Coal India reports marginal fall in coal production in May

Coal India has reported marginal fall of 1% in coal production in May 2019 to 46.59 million tonne as compared with 47.12 million tonne year ago. Coal offtake during May fell 1.4% to 52.09 million tonnes as compared with 52.81 million tonnes in the year-ago period.

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.

03-Jun-2019

Kesar Enterprises starts distillery operations

Kesar Enterprises has started its Distillery operations after a voluntary closure of about 44 months.

Kesar Enterprises (KEL) is an India-based company, engaged in the manufacture, marketing and sale of variety of products.

03-Jun-2019

Wanbury gets nod to settle debt by selling few brands

Wanbury has received approval for debt settlement and fund raising plan by sale of few brands. The Board of Directors of the Company at its meeting held on June 01, 2019 has approved the same.

Wanbury is the fastest growing pharma company and has a strong presence in the domestic branded formulations.

03-Jun-2019

Maruti Suzuki Baleno emerges as preferred choice for over 6 lakh customers

Maruti Suzuki Baleno has emerged as the preferred choice for over 6 lakh customers. Baleno achieved this feat in a record time of only 44 months. Recently, Maruti Suzuki introduced the Next Generation Smart Hybrid technology with the New DUALJET, DUAL VVT engine in Baleno, making it a first in its segment. It is also country’s first BSVI compliant premium hatchback.

Baleno with a new enhanced look and unique liquid flow design has redefined the premium compact segment. It comes with technologically advanced features such as new 17.78 cm capacitive touch Smartplay infotainment system, multi information display and the option of CVT transmission. Its class-leading comfort and driving pleasure with high safety standards makes Baleno, the most preferred choice among new age customers.

03-Jun-2019

Maruti Suzuki aims more experiential initiatives for new-age consumers

Maruti Suzuki India is formulating experiential initiatives to connect with younger buyers after withdrawing its association with various motorsports events in search of wider consumer audience.

The company, which has pulled out of marquee events like Raid de Himalaya, Desert Storm, Dakshin Dare and Autocross Championship, is now in the process of giving a final shape to its next level of engagement with consumers with plans to start programmes like track events and inter-city expeditions.

03-Jun-2019

Bank of Baroda planning to raise Rs 11,900 crore in FY20

Bank of Baroda is planning to raise Rs 11,900 crore during the current fiscal through share sale, including Employee Share Purchase Scheme to shore up capital for meeting business expansion requirement. The bank expects to garner Rs 1,500 crore from Bank of Baroda Employee Share Purchase Scheme (BoB-ESPS).

The remaining capital would be raised by way of various modes such as Qualified Institutional Placement (QIP) or Follow on Public Offer (FPO) or rights issues or any other mode or combinations of these with the existing paid-up equity share capital remaining within the total authorized capital of the bank of Rs 3,000 crore. The decisions in this regard will be taken by shareholders of the bank on June 21 at the Annual General Meeting (AGM).

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.

03-Jun-2019

IOC joins hands with Tata Motors to launch ‘Saarthi Aaram Kendra’

Indian Oil Corporation (IOC) in collaboration with Tata Motors has launched an innovative industry-first driver welfare initiative – ‘Saarthi Aaram Kendra’ for the betterment of the driver community. The initiative provides pit stops for drivers to rest thereby improving their physical and mental well-being.

03-Jun-2019

CEAT signs power purchase agreement with Greenzest

CEAT has signed a Power Purchase Agreement with Greenzest Solar (Greenzest), for supply of electricity by Greenzest to the Company, by setting up a captive solar power project in Maharashtra. In this regard the Company has agreed to invest an amount not exceeding Rs 5 crore to subscribe equity shares, 26% of total equity share capital of Greenzest.

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.

03-Jun-2019

TCS features as leader in NelsonHall NEAT for SAP HANA & S/4HANA Services

Tata Consultancy Services (TCS) has been positioned as a Leader in the NelsonHall NEAT for SAP HANA and S/4HANA Services, for the second consecutive year.

The report cites TCS’ suite of extensions, tailored to specific client needs, including SAP-certified offerings, as a strength. TCS’ focus on SAP Model Company and tailoring broad solutions to the client’s business context, were also highlighted as strengths.

03-Jun-2019

Quess Corp’s arm acquires 35.35% stake in Allsec Technologies

Quess Corp’s subsidiary — Conneqt Business Solutions has acquired 53,87,155 equity shares of Allsec Technologies, representing 35.35% of the total share capital of Allsec by way of a block trade on the National Stock Exchange of India. Accordingly, as on June 3, 2019, the Acquirer holds 93,49,095 equity shares of Allsec, representing 61.35% the total share capital of Allsec.

Quess Corp is one of India’s leading integrated business services providers focused on emerging as the preferred partner for handling end-to-end business functions of its clients.

03-Jun-2019

Puravankara to launch 13 housing projects during FY20

Puravankara has chalked out an expansion plan to start 13 new housing projects during current fiscal at an estimated construction cost of around Rs 3,000 crore. The company is set to launch in the current fiscal 13 projects, of which six are in Bengaluru, three in Mumbai, two in Pune and one each in Chennai and Kochi.

Puravankara is a leading real estate company in India, with a presence in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune

03-Jun-2019

Future Lifestyle Fashions makes investment in Koovs Plc

Future Lifestyle Fashions has further invested by way of subscribing to 4,58,39,063 Ordinary shares at a price of GBP 0.08 per Ordinary share aggregating to GBP 3.67 million (equivalent to approximately Rs 32.43 crore), of Koovs plc., a company incorporated in England.

Future Lifestyle Fashions is an integrated lifestyle brands and fashion retail company. The company operates a portfolio of brands that are well diversified across key growth categories like women’s wear, fast fashion and casual wear.

03-Jun-2019

Ashok Leyland reports 4% fall in May sales

Ashok Leyland has reported a fall of 4% in May 2019 sales (Domestic + Exports) to 13172 units, as against 13659 units sold in the same month of last year. The company reported a decline of 14% in its medium and heavy commercial vehicle (M&HCV) products segment to 8946 units in May 2019, as compared to 10421 units sold in May 2018.

The light commercial vehicle (LCV) segment of the company registered sales of 4226 units in May 2019, a rise of 31%, as compared to 3238 units sold in May 2018.

03-Jun-2019

Srikalahasthi Pipes resumes operations at its plant after routine maintenance

Srikalahasthi Pipes has resumed operations at its plant with effect from May 31, 2019. Earlier, the company had shut down plant for routine maintenance from May 23, 2019.

Srikalahasthi Pipes is engaged in the business of manufacturing pig iron and cement.

03-Jun-2019

Premier Explosives bags order from Defence Ministry

Premier Explosives has bagged an order from Ministry of Defence, Air Headquarters (Vayu Bhavan), New Delhi for supply of 50mm Chaffs cartridges. The size of the order is Rs 100.08 crore (including GST) and to be executed within 168 weeks.

Premier Explosives is a prominent player in manufacturing solid propellants for India’s prestigious missile programs like Akash, Astra, and LRSAM.

03-Jun-2019

Oriental Bank of Commerce to raise Rs 3,000 crore through QIP

Oriental Bank of Commerce has received approval to raise capital for an amount upto Rs 3,000 crore by way of issue of equity shares in the form of Qualified Institutional Placement (QIP) or such other mode as decided by the Board at an appropriate time depending upon market conditions. The Board of Directors of the Bank at its meeting held on June 01, 2019 has approved the same.

Oriental Bank of Commerce is a commercial bank. The Bank operates in four segments: treasury operations, corporate/wholesale banking, retail banking and other banking business operations.

03-Jun-2019

Dilip Buildcon executes EPC agreement with NHAI

Dilip Buildcon has executed the EPC Agreement with the National Highways Authority of India (NHAI) for Saoner- Dhapewada-Kalmeshwar-Gondkhairi, NH-547E, Package II on EPC Mode in the state of Maharashtra. The completion period of the project is 24 months and the cost of the project is Rs 480.06 crore.

03-Jun-2019

Shri Dinesh Mills discontinues manufacturing of several products at Ankleshwar unit

Shri Dinesh Mills has discontinued manufacturing of Yarns, Tops and Grey Fabrics at Ankleshwar unit with effect from June 01, 2019. The company has also discontinued manufacturing of Woolen & Worsted fabrics at Vadodara unit.

However, the manufacturing of ‘Industrial Fabrics’ i.e. Paper Makers’ Felt will continue at Vadodara unit.

Shri Dinesh Mills is a composite textile mill manufacturing worsted fabrics (menswear), paper makers felts and industrial textiles.

03-Jun-2019

Bharti Infratel gets NCLT’s nod for merger with Indus Towers

Bharti Infratel has received approval from National Company Law Tribunal (NCLT) for the planned merger with Indus Towers. The proposed merger, which will create a mega tower company in India, will also require approval from the Telecom Department. The mega tower company born from the merger will have an estimated 1.63 lakh towers in 22 telecom service areas in the country.

Bharti Infratel is a provider of tower and related infrastructure, and deploys, owns and manages telecom towers and communication structures for various mobile operators.

03-Jun-2019

Hero MotoCorp reports sales of 652,028 units in May

Hero MotoCorp has reported sales of 652,028 units of motorcycles and scooters in the month of May 2019. The company recorded a sequential increase in sales compared to the previous month (April 2019) when it sold 574,366 units of two-wheelers. The company surpassed the six-lakh units mark in monthly sales for the first time since February 2019 when it had sold 617,215 units of motorcycles and scooters.

In May, the company has launched three new motorcycles including the highly anticipated XPulse 200 -India’s first 200cc adventure motorcycle, the XPulse 200T – a 200cc modern Tourer and the Xtreme 200S – a fully faired motorcycle.

Apart from the three premium motorcycles, the company has also launched two new scooters – India’s first scooter with Fuel Injection (Fi) Technology – the Maestro Edge 125 and the advanced & stylish – Pleasure+ 110.

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.

03-Jun-2019

Tata Motors reports 26% decline in domestic sales in May

Tata Motors’ Commercial and Passenger Vehicles Business sales in the domestic market in May 2019 at 40,155 units witnessed a drop of 26%, as against 54,290 units sold in May 2018, as market sentiments continued to be muted.

Tata Motors Commercial Vehicles (CV) Business sales in the domestic market in May 2019, at 29,329 units registered a drop of 20% compared to 36,806 units sold last May as the sentiments remain weak due to depressed freight rates and underutilization of truck(s). Slowing economy and stagnant industrial output have also dragged down CV sales in recent months.

The M&HCV sales in the domestic market in May 2019 declined by 38%, at 7,683 units, compared to 12,424 units sold in May 2018. The I&LCV truck sales in May 2019 recorded a marginal decline by 2% at 4,043 units as compared to 4,106 units sold in May 2018 as this segment has been relatively less affected by the revised axle load norms. Besides, the company’s sales from exports (CV and PV) in May 2019 was at 1,563 units, lower by 58% over last May.

03-Jun-2019

Tata Steel completes acquisition of Bhushan Energy

Tata Steel has completed the acquisition of Bhushan Energy. Earlier, the National Company Law Tribunal (NCLT) has approved the resolution plan of Tata Steel to acquire Bhushan Energy for around Rs 800 crore.

Bhushan Energy was a subsidiary of Bhushan Steel, which was also taken over by Tata Steel last year in May and later renamed as Tata Steel BSL. Tata Steel had offered Rs 35,200 crore in cash to acquire Bhushan Steel besides Rs 1,200 crore to creditors and convert the remaining debt owed to banks to equity.

03-Jun-2019

Hatsun Agro Product completes acquisition of Cattle Feed unit in Maharashtra

Hatsun Agro Product completed acquisition of Madhur Pashu Aahar’s Cattle Feed unit located at Chandolewadi, Tai Sangola in the state of Maharashtra having a production capacity of 100 Tonnes per day on an outright asset purchase basis.

This acquisition will result in increase in the manufacturing capacity of cattle feed ‘Santosa’ from its present 900 tonnes per day to 1,000 tonnes per day.

Hatsun Agro Products, India’s largest private sector dairy, sells liquid milk under the brand name Arokya, ice creams under the brand Arun Icecreams, and a wide range of dairy products under the brand Hatsun.

03-Jun-2019

Bajaj Auto reports marginal rise in May sales

Bajaj Auto has registered a marginal rise of 3% in total sales to 419,235 units in May 2019 against 407,044 units in May 2018. The company’s total exports out of the above stood at 183,411 units, registering a marginal gain of 1% as compared to 182,419 units sold in the corresponding month last year.

The sales of the motorcycles increased by 7% and stood at 365,068 units in May 2019 under review against 342,595 units in May 2018. However, the company has reported 16% fall in commercial vehicles sales, which stood at 54,167 units as compared to 64,449 units in month of May 2018.

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.

03-Jun-2019

KTM Industries AG, Bajaj Auto agree on new electric vehicle alliance

KTM Industries AG and Bajaj Auto have decided to initiate a serial production project for Powered two wheeler (PTW) electric vehicles in the power range of 3 to 10 kW (48 volt) at the level of KTM AG. This platform will support different product variants – scooters, mopeds, small mopeds, under brands of both partners.

This further step in the field of electro mobility is a logical addition to the existing activities with PEXCO in the HUSQVARNA e-bike sector. The serial production will start at Bajaj’s production site in Pune/India by 2022. The necessary development budget is covered in the medium-term plans.

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.

03-Jun-2019

MOIL revises prices of various grades of manganese ore

MOIL has fixed/revised prices of different grades of Manganese Ore and other products, effective from June 01, 2019. The prices of Ferro Grade, SMGR (Mn30% & Mn25%), Fines and Chemical Grades of Ore have been decreased by about 7.5% on the existing prices prevailing since April 01, 2019.

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).

03-Jun-2019

NBCC secures total business of Rs 25 crore in May

NBCC (India) has secured the total business of Rs 25 crore in the month of May, 2019. Earlier, the company had secured the total business of Rs 361.91 crore in the month of April, 2019.

03-Jun-2019

M&M’s Promoter sells 1.54% stake in the company

Mahindra & Mahindra’s (M&M) Promoter — M&M Benefit Trust has sold 1.92 crore equity shares (treasury stock) representing 1.54% of the total paid up equity share capital of the Company. The sale has been executed on the stock exchange, at a gross price of Rs 648 per share.

Following the sale, the shareholding of the Promoters and Promoter Group of the Company has come down from 20.44% to 18.90% of the total paid up equity share capital of the Company.

DHFL Defaults, Market swings, 50% higher AC sales & more. 08/06/2019

DHFL Defaults, Market swings, 50% higher AC sales & more. 08/06/2019

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