13-Jul-2019

Grindwell Norton executes definitive agreement with Shinagawa Refractories

Grindwell Norton has executed a definitive agreement with Shinagawa Refractories, Japan on July 11, 2019, to form a Private Limited Company for Tap hole clay refractory products for the steel industry. The company will hold 49% and Shinagawa Refractories, Japan will hold 51% in the Private Limited Company.

Grindwell Norton is India’s leading manufacturer of abrasives (bonded, coated, non-woven, superabrasives and thin wheels) and silicon carbide. It also manufactures and markets high performance refractories and performance plastics products. 

 

13-Jul-2019

Dhanlaxmi Bank planning to raise capital through various means

Dhanlaxmi Bank is planning for increasing the authorised share capital and raising capital by further issue of equity shares by way of public issue / private placement / preferential issue / qualified institutional placement. The Board of Directors of the Company at its meeting to be held on July 16, 2019 to consider the same.

Dhanlaxmi Bank is engaged in providing a range of banking and financial services. The company’s segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations.

 

13-Jul-2019

IIT Roorkee signs MoU with Power Grid Corporation

Indian Institute of Technology (IIT) Roorkee has signed a memorandum of understanding (MoU) with Power Grid Corporation of India on Energy Efficiency and Sustainable Energy. The MoU targets to bring together academic and industry/corporate prowess, in building efficient, reliable and low cost energy systems.

The main objective of this MoU is to have long term association between the company and IIT Roorkee in the area of Energy Management. The MoU aims at advancing and implementing energy efficiency and sustainable energy projects at IIT Roorkee campus in the mutually agreed areas of space cooling / heating, lighting & fans, Water pumping, power distribution, waste to energy, etc. The MoU also aims at carrying out joint Research and Development related to Energy sector.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid transmits about 50% of the total power generated in India on its transmission network.

 

13-Jul-2019

3I Infotech reports 77% fall in Q1 consolidated net profit

3I Infotech has reported results for first quarter ended June 30, 2019.

The company has reported a net loss of Rs 2.03 crore for the quarter under review as compared to net profit of Rs 39.54 crore for the same quarter in the previous year. However, total income of the company increased by 14.86% at Rs 77.39 crore for Q1FY20 as compared Rs 67.38 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a fall of 77.32% in its net profit at Rs 1.37 crore for the quarter under review as compared to Rs 6.04 crore for the same quarter in the previous year. However, total income of the company increased by 12.83% at Rs 281.87 crore for Q1FY20 as compared Rs 249.81 crore for the corresponding quarter previous year.

 

13-Jul-2019

SBI waives RTGS, NEFT charges

State Bank of India (SBI) has waived charges on NEFT and RTGS transactions through internet and mobile banking from July 1, after the RBI decided to do away with the charges with an aim to move the country towards less-cash economy.

The country’s largest bank, which has about 25 per cent market share, has also decided to do away with the charges on fund transfer through mobile phones using the IMPS (immediate payment service) from August 1.

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.

 

12-Jul-2019

Universal Autofoundry sets up new manufacturing unit in Rajasthan

Universal Autofoundry has made expansion by setting up a new manufacturing unit namely Unit-II at Sikar, in the state of Rajasthan with an investment of around Rs 40 crore. The installed capacity is 1800 MT per month which is double as compared to the existing capacity of the company. The company has inaugurated the Unit on July 12, 2019.

Universal Autofoundry is engaged manufacturing iron castings.

 

12-Jul-2019

India Steel Works reports fire accident at its Khopoli plant

India Steel Works has reported a fire accident in the plant of the Company situated at Zenith Compound, Khopoli, Raigad on July 11, 2019. Fortunately, there has been no loss. The fire was controlled within the time causing the least effect on plant & machinery. However, the Company is in the process of ascertaining the actual loss caused by the fire and have already informed to the Insurance Company of the same. The Company is taking adequate steps to ensure refunctioning of the plant at the earliest.

India Steel Works is well on its way to become a leading global player in stainless steel long products. It deals in hot rolled products, bright bar products, wires, and grades of steel

 

12-Jul-2019

Infosys reports 5% rise in Q1 consolidated net profit

Infosys has reported results for first quarter ended June 30, 2019.

The company has reported a marginal rise of 1.88% in its net profit at Rs 3,569 crore for the quarter under review as compared to Rs 3,503 crore for the same quarter in the previous year. Total income of the company increased by 11.66% at Rs 19,844 crore for Q1FY20 as compared Rs 17,772 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 5.26% in its net profit at Rs 3,802 crore for the quarter under review as compared to Rs 3,612 crore for the same quarter in the previous year. Total income of the company increased by 13.52% at Rs 22,539 crore for Q1FY20 as compared Rs 19,854 crore for the corresponding quarter previous year.

 

12-Jul-2019

Axis Bank ties up with Flipkart

Axis Bank has partnered with e-commerce major Flipkart to launch a co-branded credit card and is aiming to sell 1 million of the new card in a year.

The new card comes with a slew of benefits, including a 1.5% cash-back on every purchase and up to 5% cash-back for merchant shopping, including on Flipkart and on its sister concerns like Myntra.

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

 

12-Jul-2019

Quess Corp gets nod to raise around Rs 51 crore via preferential allotment

Quess Corp has received an approval for issue of 7,54,437 equity shares of the company having a face value of Rs 10 per such equity share (Equity Shares) to Amazon.com NV Investment Holdings LLC, a category III Foreign Portfolio Investor (Investor), for an aggregate amount of Rs 50,99,99,412 at an issue price of Rs 676 by way of a preferential allotment (Issue) in accordance with applicable law, and subject to such regulatory/statutory approval as may be required, including approval of the shareholders of the Company. The Board of the company in its meeting held on July 12, 2019, approved the same.

In relation to the proposed investment by the Investor in the Company, the Board has also approved the execution by the Company of the Share Subscription Agreement (SSA) with the Investor for the proposed Issue of Equity Shares to the Investor on a preferential basis and the investment agreement (Investment Agreement) with the Investor and Qdigi Services, a wholly owned subsidiary of the Company (Subsidiary), in relation to the utilization of the proceeds of the investment towards, and certain rights of the Investor relating to, the business of the Subsidiary.

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.

 

12-Jul-2019

Ascendas India Trust to acquire warehouse project from Arshiya

Ascendas India Trust (a-iTrust) will invest Rs 70 crore to acquire an additional warehouse project from Arshiya, near Mumbai.

The firm has entered into a construction funding and forward purchase agreement with Arshiya to develop an additional warehouse with a total leasable area of 3,25,503 square feet in the Arshiya Free Trade Warehousing Zone, Panvel near Mumbai.

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

 

12-Jul-2019

Greaves Cotton sells over 1,000 e-rickshaws

Greaves Cotton has crossed sales of 1,000 e-rickshaws, given the growing demand for clean and shared mobility in the last mile transportation segment. The company recently augmented its clean technology portfolio with an entry in the last-mile affordable two-wheeler personal mobility segment with Ampere Electric Vehicles.

Greaves Cotton, a multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and Gensets.

 

12-Jul-2019

Infibeam Avenues to seek shareholders’ nod to remove SRBC & Co as joint auditor

Infibeam Avenues will seek shareholders’ approval for the removal of EY-affiliate S.R.B.C & Co. LLP as one of its joint statutory auditors through a special resolution, in compliance with the order from the Corporate Affairs Ministry.

In May, the company’s board has recommended termination of S.R.B.C & Co. LLP’s (Auditor) services as one of the joint statutory auditors on grounds of alleged sharing of unpublished price-sensitive information (UPSI) – a charge that S.R.B.C. had refuted. Last month, the Corporate Affairs Ministry had approved the company’s proposal.

Infibeam Avenues is engaged in providing online retail services.

 

12-Jul-2019

IndusInd Bank reports 38% rise in Q1 net profit

IndusInd Bank has reported results for first quarter ended June 30, 2019.

The Bank has reported 38.31% rise in its net profit at Rs 1,432.50 crore for the quarter under review as compared to Rs 1,035.72 crore for the same quarter in the previous year. Total income of the Bank increased by 35.40% at Rs 8,624.62 crore for Q1FY20 as compared Rs 6,369.75 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the April-June quarter of the current fiscal increased to 2.15%, as compared to 1.15% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 1.23% in Q1FY20.

 

12-Jul-2019

Ajmera Realty & Infra India acquires 80% stake in Shree Yogi Realcon

 Ajmera Realty & Infra India has acquired 80% stake in Shree Yogi Realcon. The Company intends to carry on real estate projects through Shree Yogi Realcon and thus acquired stake in the said entity. 

Ajmera Realty & Infra India is primarily engaged in real estate development. Its real estate business caters to the mid and hi-end housing segments.

 

 

12-Jul-2019

Piramal Enterprises planning to shift borrowing mix to longer-term funding sources

Piramal Enterprises is planning to shift its borrowing mix to longer-term funding sources, and significantly reduce dependence on commercial papers. The company will also continue to build resilience by further strengthening its liability and asset side.

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

 

12-Jul-2019

Dion Global Solutions wins ‘Best Corporate Actions System’ award

Dion Global Solutions has won ‘Best Corporate Actions System’ award for Dion’s newly launched Corporate Actions Processing Solution at the 2019 Goodacre UK Systems in the City Financial Technology Awards in London.

Dion Global Solutions is engaged in providing Capital Market Solutions, Information Security consulting, backup management services, Enterprise IT Solution, Trading Solutions, Vendor Management Services and Banking & Financial Service solutions.

 

12-Jul-2019

Reliance Power’s lenders sign Inter-Creditor Agreement

Reliance Power’s 6 lenders have signed the lnter-Creditor Agreement (ICA) on July 6, 2019. As per the RBI Circular of June 7, 2019, 100% of its lenders have signed the ICA for the resolution of Reliance Power’s debt.

The company has now achieved standstill for 180 days as per the ICA. According to the RBI Circular, the Resolution Plan of Reliance Power is to be implemented within 180 days.

All 6 Lenders of Reliance Power’s subsidiary Vidarbha Industries Power (VIPL), 600 MW Butibori Power Project near Nagpur in Maharashtra, have also signed ICA giving VIPL a 180-day timeframe to implement a resolution plan.

Reliance Power, a part of the Reliance Group, is India’s leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy.

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12-Jul-2019

Manpasand Beverages to avail loan of Rs 100 crore

Manpasand Beverages has decided to avail loan of Rs 100 crore against the mortgage/hypothecation of assets of the company and pledge of 100% shareholding of the Promoter Dhirendra Singh who is holding 44.32% of total issued and paid up capital of the company. The board of the company in their meeting has decided the same, in order to meet the current working capital requirements of the company.

Manpasand Beverages is India’s only pure play beverage company with a flagship brand, ‘Mango Sip’.

 

12-Jul-2019

TVS Motor launches TVS Apache RTR 200 Fi E100

TVS Motor Company has launched India’s first Ethanol based motorcycle – TVS Apache RTR 200 Fi E100. The company has first showcased the TVS Apache RTR 200 4V Ethanol concept in Auto Expo 2018 held in Delhi.

The TVS Apache RTR 200 Fi E100 sports a vibrant interplay of green graphics seamlessly woven with the ‘Ethanol’ logo. It is equipped with a Twin-Spray-Twin-Port EFI technology. This ensures better drivability, faster throttle response and reduction in emission levels. It delivers better usable power under varied ambient conditions. This motorcycle boasts of an impressive peak power of 21 PS at the rate of 8500 rpm with a torque of 18.1 Nm at the rate of 7000 rpm and has an ascending top speed of 129 kmph.

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

 

12-Jul-2019

ITC to foray into new FMCG categories

ITC will foray into new categories and sub-segments in FMCG vertical which will be supported by multi-dimensional investments and strategic opportunities for acquisitions. The company is seeking to be an engine of growth for Indian economy through a vibrant portfolio of future-ready businesses.

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

 

12-Jul-2019

USFDA completes audit at Dr. Reddy’s Laboratories’ Hyderabad plant

US Food and Drug Administration (USFDA) has completed audit at Dr. Reddy’s Laboratories’ API Manufacturing Plant 2 at Bollaram, Hyderabad. The audit was completed on July 12, 2019. The company has been issued a Form 483 with 5 observations.

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.

 

12-Jul-2019

USFDA completes inspection at Laurus Labs’ Unit 4 in Visakhapatnam

US Food and Drug Administration (USFDA) has successfully completed inspection at Laurus Labs’ Unit 4 at Visakhapatnam, Andhra Pradesh, without any observations and no form 483 issued. The inspection was carried out from July 08, 2019-July 12, 2019.

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

 

12-Jul-2019

Trigyn Technologies’ arm secures contract from New York State OGS to provide HBITS

Trigyn Technologies’ wholly owned subsidiary — Trigyn Technologies, Inc., has been awarded a contract by New York State Office of General Services (OGS) to provide Hourly Based IT Services (HBITS). The award is for a period of five years, with an option by the State of New York of an additional term of five years, bringing the potential term to ten years.

Trigyn Technologies, Inc. is one of thirty vendors selected by New York State OGS to support the HBITS contract.

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

 

12-Jul-2019

Gravita India’s arm starts commercial production of Aluminum Cast Alloys from its new plant

Gravita India’s step down subsidiary — Gravita Tanzania, situated in Tanzania, Africa has started commercial production of Aluminum Cast Alloys from its new plant having a capacity of around 6,000 MTPA.

The Group has made an investment of around Rs 6 crore for establishment of this New Recycling Plant having capacity of 6,000 MTPA from internal accruals of the company.

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

 

12-Jul-2019

Oil India inks pact with AGCL, GGL to set up CGD Company in Assam

Oil India, Assam Gas Company (AGCL) and GAIL Gas (GGL) have entered into an agreement to set up a new company for implementation of the City Gas Distribution (CGD) network in five districts of Assam.

The joint venture company will implement the CGD Network and supply piped natural gas to the domestic, commercial and industrial customers and CNG (Compressed Natural Gas) to the vehicles in Kamrup, Kamrup (Metro), Cachar, Hailakandi and Karimganj districts.

Oil India, a Navratna Company, is Asia’s oldest and biggest pioneer oil exploration and Production Company.

 

12-Jul-2019

Shriram Transport Finance gets nod to issue $250 million Senior Secured Notes

Shriram Transport Finance Company has received an approval for issuance of $250,000,000 Senior Secured Notes (to be consolidated and form a single Series with the $500,000,000 5.950 percent Senior Secured Notes due 2022 issued on April 24, 2019) under the $2,000,000,000 Global Medium Term Note Programme established on April 05, 2019. The Bond Issuance Committee of the company at its meeting held on July 11, 2019 has approved for the same.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.

 

12-Jul-2019

Bharti Airtel partners with Shaw Academy to offer popular online courses to its mobile customers

Bharti Airtel has partnered with online educator Shaw Academy to offer popular online courses to its mobile customers. The company looks to expand the range of benefits under the revamped ‘AirtelThanks’ programme. Shaw Academy offers courses focused on developing practical skills and popular subjects include music, photography, language, fitness, financial trading, digital marketing, nutrition, mobile app development, web designing.

Airtel Platinum mobile customers will get one year access to the entire Shaw Academy course library worth Rs 6,000. Airtel Gold customers will also get a free one month access to any one of the Shaw Academy courses worth Rs 800. Eligible customers can unlock the benefit through the Airtel Thanks app.

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

 

12-Jul-2019

Xelpmoc Design & Tech to make investment in Extrapolate Advisors, Rype Fintech

Xelpmoc Design & Tech has received approval for investment in Share Capital of Extrapolate Advisors and Rype Fintech in one or more tranches. The total consideration required for acquisition of stake in Extrapolate Advisors is Rs 11.97 lakh and for Rype Fintech is Rs 12.50 lakh. The transactions are expected to be completed by end of October, 2019.

The Board of Directors of the Company at its meeting held on July 10, 2019 has approved the same.

Xelpmoc Design & Tech is a provider of professional and technical consulting services, offering technology services and end-to-end technology solutions and support.

 

12-Jul-2019

Tech Mahindra enters into strategic partnership with Rackspace

Tech Mahindra has entered into strategic partnership with Rackspace, which will enable cross-selling to the Tech Mahindra customer base, joint product and services offerings, and improvements to Rackspace’s internal business applications and processes.

With this partnership, Rackspace will execute a new go-to-market commercial model and benefit from improvements and efficiencies to the management of business applications and processes. Partnering with Tech Mahindra will help Rackspace enable more customers close the gap between the complex reality of today and the promise of tomorrow, accelerating the value of the cloud during every phase of their digital transformation.

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.

 

12-Jul-2019

Den Networks turns black in Q1

Den Networks has reported results for first quarter ended June 30, 2019.

The company has reported a net profit of Rs 11.68 crore for the quarter under review as compared to net loss of Rs 21.92 crore for the same quarter in the previous year. Total income of the company increased by 18.12% at Rs 332.94 crore for Q1FY20 as compared Rs 281.87 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a net profit of Rs 14.31 crore for the quarter under review as compared to net loss of Rs 27.98 crore for the same quarter in the previous year. Total income of the company increased by 12.82% at Rs 364.40 crore for Q1FY20 as compared Rs 322.98 crore for the corresponding quarter previous year.

 

12-Jul-2019

Century Textiles’ arm collaborates with Anant Raj Group

Century Textiles & Industries’ wholly-owned subsidiary– Birla Estates has collaborated with realty firm Anant Raj Group to develop a housing project in Gurugram with an investment of Rs 760 crore.

The project is spread over 73 acres with saleable area potential of around 3.5 million square feet. It will be a premium residential gated community comprising low-rise floors and group housing.

Century Textiles & Industries has a wide portfolio that includes the manufacture of yarn, denim, viscose filament rayon yarn, tyrecords, caustic soda, sulfuric acid, salt, cement and pulp & paper.

 

12-Jul-2019

Tata Communications, Thales join forces to develop secure global IoT connectivity solution

Tata Communications and Thales are working together to develop a secure global IoT connectivity solution. Tata Communications MOVE mobility and IoT platform and Thales’s T-Sure warranted digital identity offering is set to unlock the value in data generated by connected devices such as cars and trucks, whilst maintaining the integrity and security of IoT data.

In Tata Communications’ global Cycle of Progress1 survey, 30% of IT decision makers cited security and 25% cited privacy issues as the biggest barriers to IoT adoption. The combined capabilities of both the companies aims to lower these barriers and enable businesses and manufacturers to make the most of the transformational potential of IoT by giving them peace of mind that their critical IoT data is protected against cyber-attacks.

Thales will provide its T-sure warranted digital identity solution to Tata Communications MOV SIM cards, based on technologies from Gemalto, a Thales company. The solution aims to secure the data that vehicles carry and provide control over data and applications, whilst keeping hackers and cyber-criminals at bay. The solution aims to allow for multiple secure ‘vaults’ within the vehicle to which only the vault owner has access.

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

 

12-Jul-2019

PVR opens 9 screens multiplex at Gaur City Mall in Uttar Pradesh

PVR has opened 9 screens multiplex at Gaur City Mall, Greater Noida, Uttar Pradesh. This multiplex is equipped with BARCO 2K projection system, 2nd generation 3D technology and Dolby digital sound.

With this launch, PVR now operates the largest multiplex network with of 794 screens at 168 properties in 67 cities.

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

 

12-Jul-2019

NTPC installing FGD technology across all plants

NTPC is installing sulphur dioxide-reducing technology flue-gas desulphurisation (FGD) at all its plants across the country, with an aim to embrace sustainable practices to produce power with minimum emissions.

At present, the adoption of this technology is currently at various stages of implementation for 65.35 GW (gigawatt) of group capacity in 38 locations which also includes upcoming projects.

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

 

12-Jul-2019

ONGC conducts Swachh Pakhwada Walkathon in Kakinada

Oil and Natural Gas Corporation (ONGC) has organized the Swachh Pakhwada Walkathon in Kakinada with active participation of college students from ASD Government College.

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

 

 

12-Jul-2019

INOX Leisure launches ScreenX theatre in Mumbai

INOX Leisure has launched India’s first ScreenX theatre at its multiplex at Inorbit Mall, Mumbai. ScreenX technology offers a panoramic 270-degree movie watching experience to the audience. ScreenX allows the audience to go beyond theme of the traditional movie screen, utilizing a proprietary system to expand select scenes of feature films to the left and right walls on each side.

ScreenX is the world’s first multi-projection theatre technology designed to enhance the movie-going experience. The deployment of ScreenX technology would allow the movie scene to spread beyond the cinema screen on to the left and right walls of the cinema hall and offer a spectacular panoramic view.

INOX Leisure is amongst India’s largest multiplex chains.

 

12-Jul-2019

GAIL’s arm enters into agreement with Oil India, AGCL

GAIL India’s subsidiary–GAIL Gas (GGL) has entered into an agreement with Oil India and Assam Gas Company (AGCL) to set up a new company for implementation of the City Gas Distribution (CGD) network in five districts of Assam.

The joint venture company will implement the CGD Network and supply piped natural gas to the domestic, commercial and industrial customers and CNG (Compressed Natural Gas) to the vehicles in Kamrup, Kamrup (Metro), Cachar, Hailakandi and Karimganj districts.

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.

 

12-Jul-2019

M&M introduces Apple CarPlay to its XUV500 SUV

Mahindra & Mahindra (M&M) has introduced Apple CarPlay to its premium SUV, the XUV500. With this update, the XUV500 now offers both Android Auto and Apple CarPlay connectivity in addition to its extensive connected features like Connected Apps, Emergency Call & Ecosense. Apple CarPlay will be available on the top-end W11 variant of the XUV500.

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. 

 

12-Jul-2019

3i Infotech incorporates step-down subsidiary in Netherlands

3i Infotech has incorporated a step-down subsidiary in the Netherlands to tap business opportunities and to cater to the customers in that region. This new subsidiary is a private company limited by shares called ‘3i Infotech Netherlands B.V.’ and is a direct wholly-owned subsidiary of 3i Infotech Holdings, the wholly-owned subsidiary of the Company based in Mauritius. 3i Infotech Netherlands B.V. has been incorporated on July 11, 2019.

3I Infotech is a global Information Technology company providing software products, IT services and Business Process Outsourcing for a variety of industry verticals including Insurance, Banking, Capital Markets, Mutual Funds & Asset Management etc.

 

12-Jul-2019

Thangamayil Jewellery opens 39th branch in Tamil Nadu

Thangamayil Jewellery has opened its 39th branch at Vadipatti, Madurai District in the state of Tamil Nadu on July 11, 2019.

Thangamayil Jewellery is one of the leading jewellery retailers. The Company trades in Gold Jewellery, Diamond and Platinum jewels. The products manufactured by the company includes Gold, Diamond, Silver and Platinum Jewellery, Gem Stones etc. 

 

12-Jul-2019

Vedanta aims revenue growth of 70% in next 3 years

Vedanta is aiming 60-70 percent revenue growth over next three years when its Rs 55,000-crore capex programme gets completed. The company has completed Rs 10,000 capital expenditure in the just concluded year.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

 

12-Jul-2019

Reliance Power recasts Rs 2,430 crore loan for Samalkot project

Reliance Power’s Rs 2,430-crore loan for its Samalkot project has been restructured and its maturity has been extended to June 2022. The company is in advance stages of development of Bangladesh project and relocating Samalkot modules in Andhra Pradesh to Bangladesh.

Reliance Power, a part of the Reliance Group, is India’s leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy.

 

12-Jul-2019

Kernex Microsystems bags order from Sri Lanka Railways

Kernex Microsystems (India) has bagged an order for an amount of $8,175,225 from ‘Sri Lanka Railways’ for procurement of Supply, Installation, Testing, Commissioning and Maintenance of 200 Level Crossing Protection Systems to Sri Lanka Railways.

Kernex Microsystems (India) is engaged in the business of manufacturing, installing and maintaining of anti-collision systems as well as conceptualizing, designing, and developing certain railway safety and signal systems for Konkan Railways Corporation.

 

12-Jul-2019

Salzer Electronics completes acquisition of Kaycee Industries

Salzer Electronics has completed acquisition of the promoter’s shares of Kaycee Industries from the CMS group. This acquisition has been done as per the share purchase agreement (SPA) dated May 24, 2019. The main objective behind the acquisition is to aid increase product offerings and further expand its footprint into newer segments along with access to all India dealer network.

Salzer Electronics is a Leading player offering Total and Customized Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. The Company caters to a wide range of products with five In-house manufacturing facilities, located in Coimbatore and Himachal Pradesh.

 

12-Jul-2019

HFCL’s arm receives order worth Rs 198.82 crore from Bharat Electronics

Himachal Futuristic Communications’ (HFCL) subsidiary — HTL has received a Purchase Order (PO) worth around Rs 198.82 crore, from Bharat Electronics, a Government of India Enterprise, for supply of various types of Optical Fibre Cables. The order is to be executed by July 2020.

HFCL is one of India’s largest telecom network turnkey implementation companies, with wide and deep capabilities and domain expertise in rolling out advanced telecom networks.

 

12-Jul-2019

TCS launches Jile 3.0 to help companies achieve agile transformation

Tata Consultancy Services (TCS) has launched Jile 3.0, a major release of its on-the-cloud Agile DevOps platform that helps companies of all sizes achieve enterprise agility. Jile is a scalable, enterprise Agile planning tool with inbuilt DevOps tools integration, that provides visibility into the entire software delivery pipeline.

It supports REST APIs (to build interface to third-party systems), SAML based integration (to enable user authentication through Enterprise LDAP or Active Directories), configurable organizational hierarchy, synchronized release planning across multiple organizational levels, and advanced dashboard and reporting features.

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.

 

12-Jul-2019

SBI puts up two NPA accounts for sale to recover dues of Rs 309 crore

State Bank of India (SBI) has put up for sale two financial assets to asset reconstruction companies, NBFCs and other financial institutions to recover dues of more than Rs 309 crore.

In terms of bank’s policy for sale of financial assets, the bank is placing Rajashree Sugars and Chemicals and Shree Vaishnavi Ispat for sale to banks/ARCs/NBFCs/FIs. Rajashree Sugars and Chemicals have an outstanding of Rs 226.94 crore, while Shree Vaishnavi of Rs 82.52 crore. The e-auction of Rajashree will take place on July 22, while that of Shree Vaishnavi on July 29.

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.

 

11-Jul-2019

Supreme Industries initiates steps to put up PVC moulded fittings manufacturing plant at Kharagpur

Supreme Industries has initiated steps to put up PVC moulded fittings manufacturing plant at Kharagpur. The same may go into production in January/March 2020 quarter. The company is also finalizing plan to put up HDPE fittings manufacturing plant at Jadcherla complex which may go in production in first half of 2020-21.

The Company is augmenting capacity of HDPE Pipe capacity at Kharagpur, PVC pipe capacity at Kanpur and moulded fitting capacity in Jalgaon unit. The orders have been placed. All these capacities are expected to go into production by third quarter FY19-20.

The Bath fitting capacity is being increased by putting up new unit in adjoining land at Puducherry which is expected to go into production by December, 2019. Further, the Company will plan to put up Plastic Pipe manufacturing capacity at Jadcherla complex where initial steps are being taken.

Supreme Industries is engaged in the manufacture of products like Cross-Laminated Films, HMHD Films, Multilayer Films, SWR Piping Systems, PP Mats, moulded furniture, and many more.

 

11-Jul-2019

Indian Wood Products commences trail of commercial production of Premium Katha

The Indian Wood Products Company (IWP) has commenced the trail of commercial production of Premium Katha at IWP’s Jammu & Kashmir Plant from July 11, 2019.

The availability of better quality of khair timber in J&K will enable company to produce higher quality of Katha and increase market share in the Premium Katha segment.  Surplus Katha Liquor produced in J&K will be utilized in production at Baroda & Kundli units to improve the quality of Katha and also result in higher utilization of production capacity.

As per the License to Establish and Operate issued by the Conservator of Forest, East Circle, Jammu, IWP was required to commence the operation of plant within one year. IWP has fulfilled the license commitment within the deadline. The License is valid up to September 6, 2020. 

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

 

11-Jul-2019

Piramal Enterprises gets nod to raise Rs 1,500 crore via NCDs

Piramal Enterprises has received approval to raise funds worth Rs 1,500 crore through issuance of secured, rated, unlisted, redeemable Non-Convertible Debentures on private placement basis. The Board of Directors of the Company at its meeting held on July 10, 2019 has approved the same.

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

 

11-Jul-2019

Subex, Rhino Niger Networks join hands to offer Telecom Analytics Solutions in Africa

Subex has entered into a strategic partnership with Rhino Niger Networks to cater to the digital transformation demands within the African markets. This partnership comes at a time when governments across the continent have announced their plans and aspirations to go digital.

Rhino Niger Networks offers digital services covering assurance, fraud prevention, network data governance amongst others. The primary goal of this partnership will be to leverage on Subex’s technical expertise coupled with Rhino’s local presence and understanding of the Nigerian and African market at large. The collaboration will act as a catalyst to drive the adoption and application of digital products and solutions, as well as enhance customer experiences.

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

 

11-Jul-2019

Piramal Enterprises’ arm launches housing finance business in Indore

Piramal Enterprises’ wholly owned subsidiary — Piramal Capital & Housing Finance (PCHFL) has forayed in Madhya Pradesh with the launch of its housing finance business in Indore. The company will provide its housing finance offerings namely home loans, loans against property and small ticket construction finance for home buyers (salaried and self-employed) in the Indore market.

With a robust network of 800 plus developer relationships and 3,000 plus channel partners, the housing finance business of PCHFL has 16 branches across 15 cities. Going forward, in the next 3-6 months, PCHFL plans to open its housing finance operations in Navi Mumbai and Palava.

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

 

11-Jul-2019

Bharti Airtel unveils new Rs 97 prepaid recharge plan with 2GB of data

Bharti Airtel has unveiled a new Rs 97 prepaid recharge plan for its prepaid subscribers. The company is offering its subscribers access to 2GB of data for the entire validity period of 14 days in this plan. The plan also offers unlimited calling and 100 SMS per day for the entire validity period.

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

 

11-Jul-2019

Vedanta spends around Rs 10,000 crore in FY19 on capital expenditure programmes

Vedanta has spent around Rs 10,000 crore in FY19 on capital expenditure programmes. The company aims to double its current contribution of 27% of nation’s production.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

 

11-Jul-2019

Tata Global Beverages’ JV planning to expand footprint in 2 new cities

Tata Starbucks, a 50:50 joint venture (JV) between Tata Global Beverages and Starbucks Coffee of the US is planning to expand its footprint in two new cities by end of 2019, taking the total count to 10.

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

 

11-Jul-2019

Max Financial Services’ JV recognised as ‘Top 100 Great Places to Work For’ by GPTW

Max Life Insurance, a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Company, has been recognised amongst India’s ‘Top 100 Great Places to Work For’ by Great Place to Work Institute (GPTW) in its 2019 study. With over 400 companies participating this year, with 69 from BFSI Sector, Max Life is the only life insurance company rated amongst India’s top 100 companies to work for.

The company has also been recognized as one of the top 20 ‘Best Workplaces in BFSI (Banking, Financial Services and Insurance Sector)’. This recognition is the true reflection of the Company’s commitment to building a workplace based on key differentiators of superior human capital and value-driven culture.

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

 

11-Jul-2019

Mahindra Finance raises Rs 25.46 crore via NCDs

Mahindra & Mahindra Financial Services (Mahindra Finance) has raised funds through allotment of 243 Secured Redeemable Principal Protected – Market Linked Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each, at a premium, aggregating to Rs 25,46,53,794. The duly authorized Committee at their meeting held on July 11, 2019, approved the same.

Mahindra Finance one of India’s leading non-banking finance companies.

 

11-Jul-2019

Bank of Baroda to foray into e-commerce business

Bank of Baroda is planning to launch an online marketplace for its customers offering banking services and farm-related products. The state-owned lender has invited bids seeking a partner to supply ‘digital commerce platform’ to provide assistance to merchants on catalog management, purchase management fulfilment, pricing, promotion and other similar services.

The bank is keen to strategise and enhance online digital capabilities with a focus on creating a marketplace to fulfil services relating to different segments of customers’ daily needs and lifestyle needs.

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.

 

11-Jul-2019

SSWL secures new export order worth $3.5 million

Steel Strips Wheels (SSWL) has bagged an export order for Truck & Trailer Aftermarket from USA. Order comprises of supplies of close to 70,000 truck steel wheels to be executed in a span of 12 months. Dispatches have already started from Chennai from this month. Total revenue generated by this order would be close to $3.5 million.

This big repeat order marks the company’s strengthening its position as one of leading suppliers in the high potential truck steel wheels market. The company is in discussions with other large truck and trailer makers in USA and expects to close similar big contracts in this segment in near future.

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.

 

11-Jul-2019

TAKE Solutions’ Step-Down Subsidiary gets liquidated

TAKE Supply chain, De Mexico, a Wholly Owned Subsidiary of Navitas, USA and a Step-Down Subsidiary of TAKE Solutions has been liquidated with effect from July 04, 2019. The entity was formally liquidated on July 04, 2019, certificate of liquidation received on July 10, 2019.

TAKE Solutions is a globally recognized knowledge intensive technology player, delivering comprehensive and niche solutions for enterprises across diverse sectors for over 15 years, with key expertise in Life Sciences (LS) and Supply Chain Management (SCM).

 

11-Jul-2019

Axis Bank planning to raise funds through various means

Axis Bank is planning to raise funds through issuance of equity shares/ depository receipts and/or any other instruments or securities representing either equity shares and/or convertible securities linked to equity shares including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs)/Global Depository Receipts (GDRs) program, preferential allotment or such other permissible mode or combinations thereof. The Board of Directors of the Company at its meeting to be held on July 20, 2019 to consider the same.

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

 

11-Jul-2019

Greaves Cotton acquires stake worth Rs 22.5 crore in Ampere Vehicles

Greaves Cotton has acquired around 15.04 lakh equity shares, by way of investment in subsidiary of the Company i.e. Ampere Vehicles, India through primary and secondary purchase for a total consideration of Rs 22.5 crore.

Consequent to the acquisition of aforesaid additional stake, the company’s holding in Ampere increased from 67.34% to 72.11%.

Greaves Cotton, a multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and Gensets.

 

11-Jul-2019

Torrent, Glenmark sign licensing agreement for co-marketing of Remogliflozin Etaboriate in India

Torrent Pharmaceuticals (Torrent) and Glenmark Pharmaceuticals (Glenmark) have entered into a non-exclusive sub-licensing agreement to co-market sodium glucose co-transporter-2 (SGLT2) inhibitor, Remogliflozin Etabonate (Remogliflozin) in India. Under the terms of the agreement, Glenmark will receive license fees and royalties for the non-exclusive sub-license rights from Torrent. Glenmark will manufacture and supply Remogliflozin, while Torrent will market the drug under its own trademark ‘Zucator’ in India.

Torrent Pharmaceuticals is Flagship Company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.

 

11-Jul-2019

Seya Industries gets listed on NSE

Seya Industries has made its debut on the National Stock Exchange (NSE) with effect from July 11, 2019. The company has successfully fulfilled all the criteria laid down by the NSE for the listing.

Seya Industries is engaged in manufacturing and exporting of Pigment, Pharmaceuticals, Agrochemicals and Rubber chemicals intermediates.

 

11-Jul-2019

Reliance Industries’ telecom arm partners with PUBG for PUBG Lite in India

Reliance Industries’ (RIL) telecom arm — Reliance Jio Infocomm (Jio) has partnered with PlayerUnknowns Battlegrounds (PUBG) for the launch of PUBG Lite in India. PUBG Lite, a free-to-play game is compatible with lower-end computers, with optimized gameplay and graphics to ensure a more inclusive and wider gaming experience.

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

 

11-Jul-2019

Reliance Infrastructure’s 16 lenders sign Inter-Creditor Agreement

Reliance Infrastructure’s (RInfra) 16 lenders have signed the Inter-Creditor Agreement (ICA). As per the RBI Circular of June 7, 2019, 100% of its lenders have signed the ICA for the resolution of Reliance Infrastructure’s debt.

The company has now achieved standstill for 180 days as per the ICA. According to the RBI Circular, the Resolution Plan of company is to be implemented within 180 days. The company is confident of implementing its Resolution Plan well before the 180-days deadline based on advanced progress of its various asset monentisation initiatives.

As per the RBI framework, Resolution Plan has to be agreed to by 75% of the Lenders by value of debt and 60% by number of Lenders. The company has already announced the sale of Delhi-Agra Toll Road for Enterprise Value of Rs 3,600 crore. With this single transaction, debt of company will reduce by over 25% to just over Rs 4,000 crore.

The company also plans to monetise its marquee 7 lakh Sq. Ft. Reliance Center in Santacruz by way of long-term lease. It aims to be zero debt in 2020.

RInfra is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.

 

11-Jul-2019

Tata Steel’s Jharia Division wins ‘Golden Peacock Eco-Innovation Award 2019’

Tata Steel’s Jharia Division has been honoured with the Golden Peacock Eco-Innovation Award 2019 by the Institute of Directors at the 21st Annual World Congress on Environment Management and Climate Change held recently in Bengaluru. Golden Peacock Awards, instituted by the Institute Of Directors, India in 1991, is regarded as a benchmark of Corporate Excellence.

The Company’s Jharia division coal mine is spread across 5,500 acres with six collieries in Jharkhand, and is known for its sustainable mining practices. At its mining operations, Tata Steel has undertaken several environmental initiatives to enable conservation, preservation, and restoration of biodiversity.

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.

 

11-Jul-2019

Tata Motors planning to deepen its reach in rural markets: Report

Tata Motors is reportedly betting on rural markets and is planning to deepen its reach in the segment. The company will also be focusing on product interventions, increased retail push and enhanced marketing initiatives on its digital platforms to bolster growth.

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

 

11-Jul-2019

Tata Motors Group’s global wholesales decline by 5% in June

Tata Motors Group’s global wholesales in June 2019, including Jaguar Land Rover, were at 95,503 nos., lower by 5%, as compared to June 2018.

Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in June 2019 were at 38,846 nos., lower by 12%, over June 2018. Global wholesales of all passenger vehicles in June 2019 were at 56,657 nos., grew by 1%, compared to June 2018.

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

 

11-Jul-2019

Havells India launches Alkaline RO and Active UV water purifiers in Rajasthan

Havells India has further enhanced its presence in Rajasthan with the unveiling of its impressive and exciting new range of technologically superior Alkaline RO and Active UV water purifiers in the region. The launch re-affirms company’s commitment to provide superior water purifying experience to the consumers in the state.

The range comprises five variants of water purifiers including Digiplus Alkaline, Max Alkaline, Active Touch, Active Plus & Active Plus Booster. Combining simplicity with effortless convenience, design brilliance and modern technology, all the products come in a price range of Rs 9,999 to Rs 23,499.

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

 

11-Jul-2019

Bajaj Finance offers returns up to 8.95% over fixed deposit

Bajaj Finance is offering guaranteed returns up to 8.95% over fixed deposit which comes across as one of the best investment options. With rewarding returns of 8.60% for new customers, which go up to 8.95% for senior citizens, Bajaj Finance Fixed Deposit is one of the best investment options.

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.

 

11-Jul-2019

NTPC organizes health check-up camp at Sipat Super Thermal Power Station

NTPC has organized a health check-up camp at Sipat Super Thermal Power Station situated at village Kaudia, on July 8.

The camp was organized under the NTPC’s Corporate Social Responsibility-Community Development activities as with the advent of monsoon various seasonal diseases spreads in the rural areas.

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.

 

11-Jul-2019

GTPL Hathway reports over 2-fold jump in Q1 consolidated net profit

GTPL Hathway has reported results for first quarter ended June 30, 2019.

The company has reported around 3-fold jump in its net profit at Rs 25.18 crore for the quarter under review as compared to Rs 9.56 crore for the same quarter in the previous year. Total income of the company increased by 59.17% at Rs 316.95 crore for Q1FY20 as compared Rs 199.13 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 29.45 crore for the quarter under review as compared to Rs 13.37 crore for the same quarter in the previous year. Total income of the company increased by 49.66% at Rs 454.30 crore for Q1FY20 as compared Rs 303.55 crore for the corresponding quarter previous year.

 

11-Jul-2019

GTPL Hathway adds 15,000 net broadband subscribers in Q1FY20

GTPL Hathway has added 15,000 net broadband subscribers during Q1FY19 and 10,000 FTTX subscribers (67% of net addition). The total subscribers as on June 30, 2019 were 3,40,000 of which 64,000 are FTTX subscribers.

The company has added 240,000 home pass in Q1FY20. Home Pass as on June 30, 2019 stood at 2.66 million. Around 50% of Home pass are available for FTTX connections.

GTPL Hathway provides digital cable television and broadband services. The company provides channels across various genres. It provides facility for renewal or change plans for cable television/broadband package.

 

11-Jul-2019

KRAS receives $100 million contract from Rafael Advanced Defense Systems

Kalyani Rafael Advanced Systems (KRAS) has received a $100 million contract from Rafael Advanced Defense Systems for manufacturing 1,000 BARAK-8 MRSAM missiles’ kits for the Indian Army and Air Force.

KRAS is a 49:51 ratio Joint Venture between Rafael Advanced Defense Systems and Kalyani Strategic Systems (KSSL), with the Indian partner holding 51%. KSSL is a 51% subsidiary of Bharat Forge.

 

11-Jul-2019

NHPC organizes three day training programme: Report

NHPC has reportedly organized a three day training programme on ‘Role of Engineering Geology in River Valley and Infrastructure Projects’ ending on July 12 at its corporate office, Faridabad.

This training programme has been conceptualised to provide an insight to young professionals about the importance of investigation and construction stage geological studies in River Valley and Infrastructure Projects and to disseminate the knowledge gained by NHPC while negotiating geological and geotechnical issues during execution of hydropower projects over the years. 25 young geologists and engineers from various organizations as well as from NHPC are participating in the programme.

NHPC is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.

 

11-Jul-2019

CERC grants ‘Category I Electricity Trading License’ to NTPC: Report

The Central Electricity Regulatory Commission (CERC) has reportedly granted a ‘Category I Electricity Trading License’ to NTPC for electricity trading. This license will help the company in implementing renewable projects, especially solar and wind, across the country.

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.

 

11-Jul-2019

HDFC Bank e- launches 15 ATMs in Jammu & Kashmir

HDFC Bank has e- launched 15 ATMs taking the ATM network to 220 in Jammu and Kashmir. The launch of these ATMs commemorates with 15 Year celebrations of the Bank in the state.

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

 

11-Jul-2019

ICICI Bank registers highest number of fraud cases in 3 years: Report

ICICI Bank has reportedly registered highest number of fraud cases over the last three years. The Bank has recorded a total of 1,432 cases of frauds involving Rs 1 lakh or more, between fiscal year 2016-17 and FY 2018-19.

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.

 

11-Jul-2019

Aurobindo Pharma launches Cinacalcet Hydrochloride Tablets

Aurobindo Pharma has launched Cinacalcet Hydrochloride Tablets (30mg, 60mg and 90mg) at risk in the US market in accordance with the terms of settlement agreement with Amgen Inc. Aurobindo’s Cinacalcet Hydrochloride tablets 30mg, 60mg and 90mg is a generic version of Amgen Inc’s Sensipar tablets, Cinacalcet Hydrochloride tablets had an annual sale of approximately $1,449 million for the twelve months ending May 2019 as per IQVIA.

Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.

 

11-Jul-2019

Corporation Bank settles total 1,148 claims under social security schemes of Govt

Corporation Bank has settled a total of 1,148 claims under the two social security schemes of the government during 2018-19 and up to May of the current fiscal. The bank settled 776 claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) in 2018-19, and 123 claims up to May of the current financial year. Further, the bank settled 211 claims under Pradhan Mantri Suraksha Bima Yojana (PMSBY) during 2018-19, and 38 claims up to May of 2019-20.

Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906

 

11-Jul-2019

India Finsec invests Rs 22.88 lakh in IFL Housing Finance

India Finsec has made an investment of Rs 22.88 lakh in its subsidiary – IFL Housing Finance, via purchase of 2.20 lakh equity shares, face value Rs 10 each at Rs 10.40 at a premium of Rs 0.40 each through right issue on July 10, 2019.

India Finsec is an India-based non-banking financial company (NBFC). The company’s principal activities include providing finance and dealing in shares and securities. The company is engaged in the business of financing, inter corporate deposits, advancing short term loans etc.

 

11-Jul-2019

Insilco restarts plant operations

Insilco has restarted the plant operations as per schedule from July 10, 2019. The company had shut down the plant operations due to high inventory.

Insilco, a group company of Evonik Industries Germany, is one of the leading producers of precipitated silica in South Asia.

 

11-Jul-2019

Glenmark Pharma signs licensing agreement with Torrent Pharma

Glenmark Pharmaceuticals and Torrent Pharmaceuticals have entered into a non’exclusive sub’licensing agreement to co’market sodium glucose co’transporter’2 (SGLT2) inhibitor, Remogliflozin Etabonate (Remogliflozin) in India.

Under the terms of the agreement, the company will receive an upfront payment, license fees and royalties for the non’exclusive sub’license rights from Torrent. The company will manufacture and supply Remogliflozin while Torrent will market the drug under its own trademark ‘Zucator’ in India.

Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).

 

11-Jul-2019

Ajmera Realty & Infra comes up with joint development of commercial units

Ajmera Realty & Infra in alliance with local partner of Mumbai has come up with Joint Development of Commercial units at project located at Ashok Mills lane,off LBS Marg,Ghatkopar (W), Mumbai.

This joint Development represents a major step forward in realizing the Company’s vision to build a trusted name for the commercial era too, servicing more demands of different genre. The project has received zero IOD and has initiated demolition. 

The turnaround tenure for completion of project will sprawl upto 3 to 4 years. It is in the heart of LBS, Marg, and Ghatkopar with ease of connectivity to Metro, Railway station and Highways too.

Ajmera Realty & Infra is primarily engaged in real estate development. Its real estate business caters to the mid and hi-end housing segments.

 

11-Jul-2019

Linc Pen & Plastics achieves sales turnover of Rs 100.66 crore in Q1FY20

Linc Pen & Plastics has achieved a sales turnover of Rs. 100.66 crore during the Q1 of FY20 as compared to Rs. 83.18 crore during the corresponding quarter in FY19, a growth of 21%. While the company’s domestic turnover grew by 29% backed by large corporate orders, exports declined by 11%, mainly on account of delivery re-scheduling of a few export shipments to the following quarter, due to some production constraints.

Linc Pen and Plastics prides itself on being a leading manufacturer and exporter of quality writing instruments in India.

 

11-Jul-2019

Bharat Dynamics awards order worth Rs 14.99 crore to Premier Explosives

Bharat Dynamics has awarded an order worth Rs 14.99 crore to Premier Explosives for supply of solid propellants for Medium Range Surface to Air Missile (MRSAM) for a value of Rs 14.99 crore (including GST) to be executed within a period of 14 months.

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

 

11-Jul-2019

Reliance Industries’ telecom arm reports Rs 9,839 crore AGR for March quarter

Reliance Industries’ (RIL) telecom arm — Reliance Jio Infocomm (Jio) has continued its lead over other telecom service providers in adjusted gross revenue (AGR) for the March 2019 quarter at about Rs 9,839 crore.

The Telecom Regulatory Authority of India’s (Trai) latest data showed that Jio’s AGR rose 3.76 per cent sequentially to Rs 9,838.9 crore at the end of March 2019. However, quarter-on-quarter, AGR growth for Jio this time was lower than 14.6 per cent rise it had experienced in the December quarter.

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

 

11-Jul-2019

Tata Power recognized for addressing challenge of open defecation by Govt of Netherlands

Tata Power Company’s Maithon team has been conferred with the FINISH Award, a sanitation programme supported by the Government of Netherlands, for its commitment to address the challenge of open defecation by motivating the community members to use toilets.

The award has been received from the FINISH Mondial countries at the ceremony held at the Embassy of Netherlands, New Delhi.

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

 

11-Jul-2019

Saksoft completes acquisition of 20% stake in Dreamorbit Softech

Saksoft has completed last tranche acquisition of 20% equity share capital of Dreamorbit Softech on July 10, 2019. With this acquisition, Dreamorbit Softech has become a wholly owned subsidiary of the company.

Saksoft offers the complete stack of services in the Information Management / Business Intelligence area from Consulting, building Data-warehouse and providing Analytics solution.

 

11-Jul-2019

Can Fin Homes planning to raise Rs 6,000 crore on private placement basis

Can Fin Homes is planning to raise funds through issuance of redeemable debentures upto an amount of Rs 6000 crore, on private placement basis. The Board of Directors of the Company at its meeting to be held on July 22, 2019 to consider the same.

Can Fin Homes is a Housing Finance Company. The company offers finance for construction of a house, loan for the purchase of a flat or house, finance for the acquisition of a plot and construction of a house on the same.

 

11-Jul-2019

RTS Power Corporation proposes to set up new factory in Rajasthan

RTS Power Corporation has proposed to set up its new factory at its land at Khatu Shayaji Industrial Area, Reengas, Sikar District in the state of Rajasthan for the manufacturing of steel wires and strips, galvanized and non-galvanized and other downstream products made out of steel wires and strips, galvanized and non-galvanized of the capacity of 12,000 MT per annum.

This is in line with the company’s intention to expand or diversify its business apart from manufacturing Transformers, Cables and Conductors and Wind Energy.

RTS Power Corporation is engaged in the manufacture and repair of power & distribution transformers from 5 KVA to the, range of 50,000 KVA.

 

11-Jul-2019

HFCL reports over 2-fold jump in Q1 consolidated net profit

Himachal Futuristic Communications (HFCL) has reported results for first quarter ended June 30, 2019.

The company has reported 2-fold jump in its net profit at Rs 89.34 crore for the quarter under review as compared to Rs 44.36 crore for the same quarter in the previous year. Total income of the company increased by 16.25% at Rs 1,204.96 crore for Q1FY20 as compared Rs 1,036.51 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 117.12 crore for the quarter under review as compared to Rs 47.19 crore for the same quarter in the previous year. Total income of the company increased by 23.36% at Rs 1,349.04 crore for Q1FY20 as compared Rs 1,093.61 crore for the corresponding quarter previous year.

 

11-Jul-2019

HDFC planning to raise funds up to Rs 3000 crore via bonds

Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 3,000 crore by issuing bonds on a private placement basis to shore up its long-term capital needs. The ‘HDFC Series V-006 11th July, 2014’ secured redeemable non-convertible debentures will have an issue size of Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore.

The object of the issue is to augment the long-term resources of the corporation. The proceeds of the present issue would be utilised for financing or refinancing the housing finance business requirements of corporation.

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

 

11-Jul-2019

TCS’ strategic unit collaborates with AICTE to equip students with career skills

Tata Consultancy Services (TCS) strategic unit — TCS iON has collaborated with All India Council for Technical Education (AICTE), a national-level apex advisory and regulatory body for technical education, to provide students with a custom curated digital learning course to equip them with career skills.

With an intent to bridge this gap, TCS iON has curated a free, 20 hour-long career skills course that will cover topics such as corporate etiquette, effective email writing, impactful presentations, IT awareness etc. The course will be available to students free of charge throughout the duration of their degree course.

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

 

11-Jul-2019

V-Mart Retail opens new store in Uttar Pradesh

V-Mart Retail has opened a new store in the state of Uttar Pradesh. This takes the total number of stores to 228 in 178 Cities across 17 states and total tally of Uttar Pradesh is 89 stores.

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

 

11-Jul-2019

L&T’s construction arm secures orders across various business segments

Larsen & Toubro’s (L&T) construction arm — L&T Construction has secured orders from prestigious clients across various Indian states for its varied businesses. On the domestic front, the Power Transmission and Distribution has secured orders for urban electricity distribution from a state distribution utility.

Another order for turnkey construction of a 400kV and 220kV Transmission Lines has been secured from a state transmission utility. In the international market, an order has been secured for the supply, installation and commissioning of 132kV underground cables in United Arab Emirates (UAE). In Ethiopia and Uganda, orders have been received for establishing distribution networks involving medium/ low voltage distribution lines and last mile consumer connections. The business has also won an order, in a consortium, for the supply and construction of Battery Energy Storage Systems for 115kV substations in Chaiyaphum and Lopburi provinces of Thailand.

L&T’s defence business unit of Heavy Civil Infrastructure has secured order from one of the major Defence PSUs for the construction of a strategic project for the Indian Air Force. Further, L&T’s Water and Effluent Treatment business has secured orders from Gujarat Water Infrastructure for supplying, lowering, laying, jointing, testing and commissioning of a MS pipeline from Brahmani Dam – 2 to Chakampar village (Package II) and from Chakampar village to Nava Sadulka (Package III) including its operation Et maintenance for 5 years in Morbi district, Gujarat. The business has bagged repetitive orders from the same client over the past few years.

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

 

11-Jul-2019

Religare Enterprises to divest stake in Religare Finvest

Religare Enterprises has entered into a binding term sheet with TCG Advisory Services, Religare Finvest (RFL) and Religare Housing Development Finance Corporation (RHDFCL), whereby the company will divest its entire stake in RFL, a subsidiary of the Company, to TCG Advisory Services or any of its affiliates.

Pursuant to the aforesaid divestment, TCG Advisory Services would also acquire indirect interest of the Company in RHDFCL, which is a subsidiary of RFL.

Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.

 

11-Jul-2019

KPI Global Infrastructure inks agreement with Super Deluxe Paper Mills

KPI Global Infrastructure has signed Power Purchase Agreement (PPA) with Super Deluxe Paper Mills, Vapi for sale of 1 MW solar power for a period of 15 years under the category of Independent Power Producer (IPP).

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

 

10-Jul-2019

Cupid’s trade mark gets registered with United States Patent and Trademark Office

Cupid’s trade mark–Cupid Angel has been registered with the United States Patent and Trademark Office. It would help company to promote and market its Cupid Female Condoms in USA.

Cupid manufactures and markets varieties of male and female condoms, water based lubricant, latex dental dams and probe covers. Cupid has a diverse product basket available in over 25 countries worldwide.

 

10-Jul-2019

Quess Corp planning to make investment up to Rs 51 crore

Quess Corp is planning to make an investment up to Rs 51 crore in the company by an investor, through issue of equity shares on preferential allotment basis, subject to, compliance with all applicable laws, approval of the members of the company, and other regulatory, and, or statutory approvals, as applicable. The meeting of Board of Directors of the company is scheduled to be held on July 12, 2019, to consider and approve the same.

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.

 

10-Jul-2019

Trident reports 11,702 metric tons of paper production in June

Trident has reported 11,702 metric tons production of Paper in June 2019. Further, chemicals production stood at 7,528 metric tons.

The company’s bath linen and yarn production stood at 4,023 metric tons and 9,133 metric tons, respectively, while bed linen production stood at 1.75 million metres during June.

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

 

10-Jul-2019

Eicher Motors’ JV clocks over 160,000 km ferrying of its electric buses in Kolkata: Report

Eicher Motors and Volvo Group’s joint venture (JV) — VE Commercial Vehicles (VECV) has reportedly completed a year of a successful run of its electric buses in Kolkata. The Eicher Skyline Pro e-buses, been deployed with West Bengal Housing Infrastructure Development Corporation (WBHIDCO), have now clocked over 160,000 kilometres ferrying over 130,000 passengers till now.

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.

 

10-Jul-2019

Eicher Motors’ motorcycle arm opens two service centres in Himachal Pradesh: Report

Eicher Motors’ motorcycle arm — Royal Enfield has reportedly opened two new service centres in Himachal Pradesh, in order to expand its service network in the country. The two new service centers located at Kaza and Keylong will include product, service, and spares.

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.

 

10-Jul-2019

Bharti Airtel partners with Shaw Academy

Bharti Airtel has partnered with Irish and India based global EdTech, Shaw Academy to offer popular online courses to its mobile customers, as part of the fast expanding range of exciting benefits under its refreshed ‘AirtelThanks program’.

As part of their exclusive AirtelThanks benefits, Airtel Platinum mobile customers will now get a one year access to the entire Shaw Academy course library worth Rs 6000. Airtel Gold customers will also get a FREE one month access to any one Shaw Academy course worth Rs 800.

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

 

10-Jul-2019

Yes Bank partners with Wirecard

Wirecard has entered into a partnership with Yes Bank. The partnership will expand the scope of India’s Aadhaar Enabled Payment System, a biometric digital payment system developed by the National Payments Corporation of India.

From now on, Wirecard retail agents in India will be supported by Yes Bank’s infrastructure and will serve as customer representatives India-wide to provide essential financial services, such as cash withdrawals and deposits, bank-to-bank transfers, and balance inquiries, to customers.

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

 

10-Jul-2019

Delta Corp reports marginal rise in Q1 consolidated net profit

Delta Corp has reported results for first quarter ended June 30, 2019.

The company has reported a rise of 52.99% in its net profit at Rs 43.77 crore for the quarter under review as compared to Rs 28.61 crore for the same quarter in the previous year. Total income of the company increased by 15.08% at Rs 133.27 crore for Q1FY20 as compared Rs 115.81 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a marginal rise of 2.58% in its net profit at Rs 42.48 crore for the quarter under review as compared to Rs 41.41 crore for the same quarter in the previous year. However, total income of the company marginally decreased by 0.40% at Rs 194.72 crore for Q1FY20 as compared Rs 195.51 crore for the corresponding quarter previous year.

 

10-Jul-2019

Vatika repays Rs 420 crore loan to Indiabulls Housing Finance

Vatika has repaid loans worth Rs 500 crore to Indiabulls Housing Finance and HDFC by monetising its land bank and commercial assets. Vatika has repaid nearly Rs 420 crore to Indiabulls Housing Finance and Rs 80 crore to HDFC for their respective project-level debt exposure. The debt repayment has been financed through a combination of monetisation of its land parcels and commercial assets.

Vatika had raised this fund in a phased manner since 2013. To cut its debt, Vatika had decided to monetise two of its prime land parcels, including a 15-acre plot in the prime area of Gurugram, apart from the sale of residential apartments at its projects. It also monetised commercial assets by availing Lease Rental Discounting (LRD) to raise funds for this round of debt repayment.

Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).

 

10-Jul-2019

Tata Motors’ arm reports retail sales of 47,060 vehicles in June

Tata Motors’ wholly owned subsidiary — Jaguar Land Rover (JLR) has reported sales of 47,060 vehicles in June 2019, down 9.6% compared to June 2018. Retail sales of the all-electric I-PACE and the new Range Rover Evoque grew, while other models were impacted by the weaker general market conditions. Discovery Sport sales also reflected anticipation of the launch of the new refreshed model.

By region, retail sales were up in the UK (4.6%) but down in other regions including North America (-9.0%), Europe (-11.7%), China (-12.3%) and in Overseas markets (-18.6%), reflecting generally weaker industry conditions. While China sales remained down year on year in June, sales there were up 23.1% from May. Jaguar Land Rover UK sales set a new record for June, despite the industry being down 4.9%.

Jaguar retail sales in June 2019 were 14,933 vehicles, down 8.5% year-on-year and Land Rover retailed 32,127 vehicles, down 10.1% compared to June 2019.

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.

 

10-Jul-2019

Havells India launches Alkaline RO and Active UV water purifiers in Indore

Havells India has unveiled its striking and diverse range of technologically superior, best in class Alkaline RO and Active UV water purifiers in Indore. The company’s new range of purifiers provides safe, tasty and healthy alkaline drinking water with 8+ pH levels. The initiative further enhances Havells’ commitment to offer a superior water purifying experience to consumers in the state.

The range comprises five variants of water purifiers including Digiplus Alkaline, Max Alkaline, Active Touch, Active Plus & Active Plus Booster. Combining simplicity with effortless convenience, design brilliance and modern technology, all the products come in a price range of Rs 9,999 to Rs 23,499.

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

 

10-Jul-2019

Datamatics Global Services collaborates with Thomson Reuters

Datamatics Global Services has collaborated with Thomson Reuters to bring together TaxAnalyze, a Tax Validation tool.

The product will help corporates streamline their financial information, automate tax processes and ensure seamless tax calculations. The solution is powered by Thomson Reuters ONESOURCE and Datamatics TruBI.

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

 

10-Jul-2019

Castrol India declares winners of ‘Castrol Super Mechanic Contest 2019’

Castrol India has declared winners of ‘the Castrol Super Mechanic Contest 2019’. The third edition of the Castrol Super Mechanic Contest saw record participation of over 1.27 lakh mechanics across the country, with 40 of them competing in the final stages. This helped them gain exposure to extensive knowledge about automotive technologies and the lubricant industry, along with testing their mettle and skills.

Sarvanakumar Subramaniam and Hardevsinh Jadeja have emerged as winners of the Castrol Super Mechanic Contest 2019 in a glittering finale organized by Castrol India.

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

 

10-Jul-2019

TVS Motor launches TVS Sport in Sri Lanka

TVS Motor Company has launched 100cc economy motorcycle TVS Sport in Sri Lanka. The mileage-efficient motorcycle boasts of new generation graphics and style. The motorcycle is a blend of style and comfort thus making it a complete package for the customers in key international market, Sri Lanka.

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

 

10-Jul-2019

Premier Explosives receives order worth Rs 14.99 crore from Bharat Dynamics

Premier Explosives has bagged an order from Bharat Dynamics (BDL) for supply of solid propellants for Medium Range Surface to Air Missile (MRSAM) for a value of Rs 14.99 crore (including GST) to be executed within a period of 14 months.

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

 

10-Jul-2019

REC gets nod to raise funds up to Rs 75,000 crore via private placement

Rural Electrification Corporation (REC) has received an approval for raising of funds through issue of unsecured/ secured non-convertible bonds/ debentures through Private Placement, up to an amount of Rs 75,000 crore, in one or more tranches. The Board of Directors of the company at their meeting held on July 10, 2019, has approved the same.

REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.

 

10-Jul-2019

TCS recognized with overall positive vendor rating by Gartner

Tata Consultancy Services (TCS) has been recognized with an overall Positive Rating in the recent Vendor Rating report by Gartner Inc, based on a holistic evaluation covering the company’s Strategy, Product/ Service, Pricing Structure, Technology/ Methodology, Support/ Account Management and Corporate Viability.

The evaluation gave the company a Strong rating for its Support/ Account Management and for Corporate Viability. Additionally, the company received a Positive rating for its Strategy, Product/ Service, Technology/ Methodology and Pricing Structure.

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

 

10-Jul-2019

M&M rolls out 1 millionth vehicle from each of its 3 manufacturing plants

Mahindra & Mahindra (M&M) has crossed a significant milestone, rolling out the 1 millionth vehicle from each of its 3 automotive manufacturing plants in Chakan, Zaheerabad and Haridwar. With this, the Automotive manufacturing facilities in these three locations joined the 1 million club along with the company’s Nashik and Kandivali plants.

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

 

10-Jul-2019

Strides Pharma Science achieves final closure of Arrow transaction

Strides Pharma Science has achieved final closure for the transaction to exit its investment in Arrow for AUD 394 million. The company’s step-down subsidiary — Strides Pharma Global Pte (SPG) has received AUD 300 million immediately at closing, while the balance AUD 94 million will be a deferred consideration backed by a secured interest-bearing instrument. All proceeds net of transaction cost will be used to pare down debt. 

Strides shall retain global access to IP’s of over 140 products and has concurrently entered into a preferred supply agreement with Arrow and Apotex as the major supplier which will enable Strides to retain profits equivalent to 40%-50% of current Arrow EBITDA.

Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.

 

10-Jul-2019

Ashok Leyland ready with electric vehicle strategy

Ashok Leyland is ready with its electric vehicle strategy even as it prepares to shift its entire model line to conform to BS-VI emission norms from April 1, 2020. The company is also in the process of launching new light commercial vehicles (LCVs) starting April next year.

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.

 

10-Jul-2019

Bharti Airtel’s arm gets listed on Nigerian Stock Exchange

Bharti Airtel’s subsidiary — Airtel Africa’s shares have been listed and admitted for trading on the London Stock Exchange (Premium Segment) and Nigerian Stock Exchange.

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

 

10-Jul-2019

Deccan Health Care features among India’s Top 50 Transformational Brands 2019

Deccan Health Care has been ranked among India’s Top 50 Transformational Brands 2019.

The two days mega corporate festival was held at the iconic House of Lords, British Parliament and the Westminster Conference Centre. While the first day saw India’s 50 Best Companies and their leadership in an incredible network at the iconic House of Lords, British Parliament, the second day of was an assembly of the best minds coming together for discussions on India’s glorious future along with a recognition ceremony for India’s 50 Best Companies and its leadership.

Deccan Health Care is engaged in developing, manufacturing and marketing a broad range of healthcare products including nutraceutical, cosmeceutical and ayurveda products.

 

10-Jul-2019

Vaibhav Global’s arm wins Progress Level Award from Quality Texas Foundation

Vaibhav Global’s US subsidiary — Shop LC has won Progress Level Recognition by Quality Texas Foundation at 26th Annual Texas Quest for Excellence Conference held in June, 2019. Shop LC, US, has adopted the Malcolm Baldrige Performance Excellence model as a key, continuous improvement, management model.

Vaibhav Global earlier known as Vaibhav Gems incorporated in Jaipur in 1989, is today a professionally managed, end-to-end vertically integrated business organization.

 

10-Jul-2019

Tata Comm recognized as finalist for 2019 Microsoft Intelligent Communications Partner of Year

Tata Communications has been named a finalist in the 2019 Microsoft Intelligent Communications Partner of the Year Award. The company was honoured among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.

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

 

10-Jul-2019

Tasty Bite Eatables planning to raise funds

Tasty Bite Eatables is planning to raise funds by issuance of equity shares on a preferential basis. The board of directors at their meeting on July 12, 2019 will consider the same.

Tasty Bite Eatables is in the business of manufacturing and marketing ready-to-serve food and frozen vegetables.The company sells their products under the brand name ‘Tasty Bite’.

 

10-Jul-2019

VST Tillers Tractors reports sales of 728 tractors in June

VST Tillers Tractors has reported sales of Power Tillers and Tractors for the month of June 2019. The company has sold 3325 Power Tillers, while the Tractors sales of the company stood at 728 units for the month ended June 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.

 

10-Jul-2019

MSTC inks MoU with HEC

Heavy Engineering Corporation (HEC) has inked a memorandum of understanding (MoU) with MSTC, on July 09, 2019 to engage MSTC for disposal of all surplus, condemned, scrap and obsolete materials through MSTC’s Auction web site via e-auction route.

This pact will enable HEC to dispose of its waste and surplus material smoothly and generate additional revenue. The e-auction route will provide full transparency in the system and expeditious disposal action.

MSTC is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India.

 

10-Jul-2019

APSEZ planning to raise up to $700 million through foreign currency bonds

Adani Ports and Special Economic Zone (APSEZ) is planning to raise up to $700 million by way of issuance of dollar-denominated foreign currency bonds which may be issued in one or more tranches overseas. The board of directors at their meeting on July 12, 2019 will consider the same.

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

 

10-Jul-2019

CONCOR, BHEL ink pact to set up rail-based logistics terminal in Uttarakhand

Container Corporation of India (CONCOR) and Bharat Heavy Electricals (BHEL) have entered into an agreement to set up rail-based logistics terminal in Haridwar in the state of Uttarakhand. This would be BHEL’s strategic entry into a new growth area, and this terminal would soon be developed into a multi-modal logistics facility.

CONCOR is a Public Sector Undertaking, under Ministry of Indian Railways which was incorporated in March 1988 under the Companies Act, and commenced operation from November 1989 taking over the existing network of 7 ICDs from the Indian Railways.

 

10-Jul-2019

NLC India commissions 63 MW capacity out of 100 MW Solar PV power plant in Tamil Nadu

NLC India has successfully commissioned 63 MW capacity out of the 100 MW Solar PV power plant at Therkkupatti and Subbiahpuram Village, Manur Taluk, Tirunelveli District, Tamil Nadu, out of 709 MW solar power projects awarded by TANGEDCO. The commercial operation has been declared with effect from July 07, 2019.

NLC India is engaged in the business of lignite mining and power generation.

 

10-Jul-2019

SJVN, BHEL ink MoU for development of Solar Power projects in India

SJVN has entered into a Memorandum of Understanding (MoU) with Bharat Heavy Electrical (BHEL) for development of Solar Power projects in India. The MoU aims at building a closer strategic partnership between the parties for jointly pursuing commercial solar power projects through participation in tariff and viability gap funding based competitive bidding process.

As per MoU for the projects that will be developed by SJVN, BHEL will be an engineering, procurement, construction and project management contractor. In addition to this BHEL shall also provide operation and maintenance services after commissioning of project.

SJVN is engaged in hydroelectric power generation originally established as a joint venture between the government and the state government of Himachal Pradesh to develop and operate the Nathpa Jhakri Hydro Power Station (NJHPS).

 

10-Jul-2019

NHPC organizes ‘Apna Ped Mahotsav’

NHPC has organized ‘Apna Ped Mahotsav’, a plantation drive in NHPC Residential Colony, Faridabad with an objective to make the colony a green colony. Over 200 saplings were planted by participants during the day in this initiative.

NHPC is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.

 

10-Jul-2019

BHEL signs agreement with CONCOR

Bharat Heavy Electricals (BHEL) has signed an agreement with CONCOR to form Joint Working Group (JWG) on July 8, 2019. The agreement is for establish Rail Based Logistics Terminal at Haridwar in the state of Uttarakhand.

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

 

10-Jul-2019

BHEL signs MoU with SJVN

Bharat Heavy Electricals (BHEL) has signed a memorandum of understanding (MoU) with SJVN for development of Solar Power projects in India. The MoU aims at building a closer strategic partnership between the parties for jointly pursuing commercial solar power projects through participation in tariff and viability gap funding based competitive bidding process.

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

 

10-Jul-2019

HFCL receives PO worth Rs 186.90 crore from Bharat Sanchar Nigam

Himachal Futuristic Communications (HFCL) has received a Purchase Order (PO) worth Rs 186.90 crore approximately from Bharat Sanchar Nigam, vide its PO dated July 08, 2019, for setting up of the Optical Transmission Backbone Network for Armed forces under the Network for Spectrum Programme (NFS) of the Government of India.

This Project is funded by Department of Telecom, Government of India (DOT) and BSNL has been appointed as the nodal agency by the DoT for Project execution. As the project has been funded by the DOT, Government of India, the timely realisation against the said order is secured.

HFCL is one of India’s largest telecom network turnkey implementation companies, with wide and deep capabilities and domain expertise in rolling out advanced telecom networks.

 

10-Jul-2019

ICICI Securities enters into retail loans distribution business

ICICI Securities has entered into a retail asset (loans) distribution business, thereby opening a new revenue stream for the organization. This service is inclusive of products such as personal loan, home loans, loan against property, auto loans, and credit cards offered by ICICI Bank.

ICICI Securities is an integrated securities firm offering a wide range of services including investment banking, institutional broking, retail broking, private wealth management, and financial product distribution. 

 

10-Jul-2019

M&M celebrates four successful years of mini truck ‘Jeeto Load’

Mahindra & Mahindra (M&M) has celebrated four successful years of the Mahindra Jeeto Load, since its launch in 2015. Mahindra has rolled out over 100,000 units of the Jeeto Load, a mini truck that is perfect for business needs as it helps in the last-mile transportation of goods.

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.