The Last of June. 29/06/2019

Weekly	Last Close	Last Week Close	Change %
Nifty	11,788.00	11,724.00	0.55%
Bank Nifty	31,105.00	30,628.00	1.56%
USD INR	68.95	69.51	0.81%

Top Gainer of the week on Nifty
UPL	5.32 %
Top Loser of the week on Nifty
Tech Mahindra	-4.57 %

Top Gaining Sector
Nifty Realty	+3.88 %
Top Losing Sector
BSE IT	-1.69%

Industries that saw good volumes past week:

NBFC

Pharma

Forthcoming Events
Event	Date
Nikkei Markit Manufacturing PMI (Jun)	1-July-19
Nikkei Services PMI (Jun)	03-July-19
M3 Money Supply	03-July-19
Bank Loan Growth	5-July-19
Deposit Growth	5-July-19
FX Reserves, USD	5-July-19
Interim Budget	5-July-19

Forthcoming Record Dates
Company	Date	Purpose
Avadh Sugar & Energy Ltd.	30-June-19	Bonus issue
Magadh Sugar & Energy Ltd.	30-June-19	Bonus issue
A And M Jumbo Bags Ltd.	2-July-19	BONUS
Kewal Kiran Clothing Ltd.	02-July-19	First Interim Dividend
UPL Ltd.	03-July-19	Bonus issue
Bharat Financial Inclusion Ltd.	4-July-19	Amalgamation
Welspun Corp Ltd.	5-July-19	Final Dividend
Apcotex Industries Ltd.	5-July-19	Stock Split
Star Cement Ltd.	5-Jul-19	Buy Back of Shares
SKP Securities Ltd.	5-July-19	Buy Back of Shares
Sasken Technologies Ltd.	05-Jul-19	Buy Back of Shares

29-Jun-2019

Avenue Supermarts raises Rs 100 crore via CP

Avenue Supermarts has raised funds through issuance of Commercial Paper (CP) worth Rs 100 crore. The company has issued CP on June 28, 2019 and it will mature on August 27, 2019. The rating agency, CRISIL has assigned ‘A1+’ rating to the instrument.

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

 

29-Jun-2019

Bharti Airtel closes 3G service in Kolkata

Bharti Airtel has closed 3G service in Kolkata. This move is a part of company’s plan to replace the third generation mobile technology with 4G in the country. The company will continue to provide 2G service in Kolkata to serve the connectivity needs of customers on feature phones.

The company has refarmed the 900 Mhz band spectrum being used for 3G to further strengthen its 4G network. The company is deploying state-of-the-art L900 technology in the 900 MHz band to complement its 4G service in the 2300 Mhz and 1800 Mhz bands.

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

 

29-Jun-2019

Tata Steel unveils work in Europe’s high-speed transport sector

Tata Steel has unveiled its work in Europe’s high-speed transport sector. This will help to create a sustainable system, which could slash travel times considerably in the future.

Among some of the company’s other focus in the transport sector, it also unveiled lane-switching technology, which allows hyperloop vehicles to change from one lane to another at high speed. The company supplied the tracks and the motor components, which are both made of steel.

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.

 

29-Jun-2019

Datiware Maritime Infra commences work order for construction of floating gates

Datiware Maritime Infra has commenced the work order received for fabrication and assembly of floating gates of Drydocks for the end client Indian Navy.

Datiware Maritime Infra engaged in the business of aquaculture.

 

29-Jun-2019

Balkrishna Industries commences trial production of carbon black project

Balkrishna Industries has commenced the trial production of Phase 1 of its Carbon Black project with capacity of 60,000 MT per annum at the company’s Bhuj Plant in the state of Gujarat.

Balkrishna Industries operates mainly in the business segment of tires.

 

29-Jun-2019

IOL Chemicals & Pharmaceuticals prepays term loan of Rs 21.17 crore

IOL Chemicals & Pharmaceuticals has made the pre-payment of term loan of Rs 21.17 crore due to banks in addition to regular repayment schedule. Thus the company made the pre-payment of term loan of aggregate amount of Rs 68.79 crore till date to reduce the debt of the company.

IOL Chemicals & Pharmaceuticals is a leading organic chemicals manufacturer and supplier in India.

 

29-Jun-2019

INOX Leisure starts commercial operations of multiplex cinema theatre at Hyderabad

INOX Leisure has commenced the commercial operations of a multiplex cinema theatre taken on lease basis, located at INOX Leisur, 4th floor, GSM Mall, Miyapur 99 & 100, Madeenaguda, Hyderabad, with effect June 29, 2019. Multiplex Cinema Theatre has 8 screens and 1691 seats.

The company has now presented in 67 cities with 143 Multiplexes, 595 screens and a total seating capacity of 1,39,797 seats across India.

INOX Leisure is amongst India’s largest multiplex chains.

 

29-Jun-2019

TCS features as leader, star performer in Everest Group’s PEAK Matrix for FAO Services

Tata Consultancy Services (TCS) has been positioned as a Leader and Star Performer in Everest Group’s PEAK Matrix for Finance and Accounting Outsourcing (FAO) Services. The company has received the highest overall buyer satisfaction score among all the providers listed in the report.

Cited as a key strength was its Machine First Delivery Model (MFDM), a framework coupled with digital levers such as automation, analytics, and AI that enhance business outcomes. The report also highlighted the company’s strong ecosystem of digital solutions that leverage both in-house tools (such as ignio for AI and TAP for accounts payable) as well as third-party RPA providers.

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.

 

29-Jun-2019

ABC India secures order of Rs 137.70 crore from BHEL

ABC India has been awarded an order of Rs 137.70 crore from BHEL for Multimodal Transportation of Export Project Cargo from India to the MSTPP Rampal Project in Bangladesh.

ABC India has been a pioneer in the field of logistics since its inception. The company has its own fleet of trucks and hydraulic trailers & has its own Custom House Agent License to facilitate the customs clearance of imported or exported cargo.

 

29-Jun-2019

M&M spends worth Rs 60 crore in digital marketing at passenger vehicle showrooms

Mahindra & Mahindra (M&M) has invested Rs 60 crore in digital marketing at passenger vehicle showrooms in the past three years. The company had started digital marketing at its showroom in 2011 when it launched the premium SUV, the XUV500.

The company has also set up over 300 such centers, including 100 ‘showroom within showroom’ in the past six months. The aim of theses center is to help the company’s engagement in the pre-purchase and purchase stages by integrating a virtual world at its showrooms

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.

 

29-Jun-2019

Lemon Tree Hotels opens 303 room hotel in Mumbai

Lemon Tree Hotels has entered into Mumbai with the launch of its 303 room hotel – Lemon Tree Premier – Mumbai International Airport. It is located on Andheri Kurla Road, the hotel is in close proximity to key hubs like SEEPZ, Bombay Exhibition Center, Maharashtra industrial Development Corporation (MIDC).

This is the second city in Maharashtra, after Pune, with a Lemon Tree Premier and the third city in Maharashtra, after Aurangabad and Pune where the group operates. With opening of this Hotel, the company presently operates 57 Hotels including managed properties across 34 cities in India.

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

 

28-Jun-2019

Ashok Leyland, HPCL launch unique break down maintenance solution ‘Sadak Ka Saathi’

Ashok Leyland and Hindustan Petroleum Corporation (HPCL) have launched a unique break down maintenance solution titled ‘Sadak Ka Saathi’ for DriveTrack Plus customers.

Under this arrangement, any break down of any make of truck will be attended in 4 hours and if it gets necessitated, free towing will be done to the nearest workshop for further repairs. This is further to the already existing strategic agreements between the two companies for co-branded products ‘eN-Dhan’ on DriveTrack Plus platform.

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.

 

28-Jun-2019

Trident redeems commercial paper worth Rs 50 crore

Trident has redeemed Commercial Paper of worth Rs 50 crore on maturity due date i.e. June 28, 2019. The said Commercial Paper was issued by the company on May 29, 2019.

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

 

28-Jun-2019

Social Alpha partners with Mphasis, BIRAC

Social Alpha has partnered with BIRAC and Mphasis to scout for 10 startups working on assistive technology solutions aimed at differently-abled persons, and will offer them support of up to Rs 20 lakh each.

The aim of the ‘Quest for Assistive Technologies’ initiative is to provide selected startups with ‘lab-to-market’ support, including optimal product design, market access and customised assistance to each startup. This joint programme is designed to validate the product-market fit, help with clinical trials where required and bridge the gaps that exist in the distribution and service channels.

Mphasis is a global service provider, delivering technology based solutions across industries, including Banking & Capital Markets, Insurance, Manufacturing, Media & Entertainment, Telecom, Healthcare, Life Sciences, Travel & Transportation, Hospitality, Retail & Consumer Goods, Energy & Utilities, and Governments around the world.

 

28-Jun-2019

Goldiam International bags order worth Rs 35 crore

Goldiam International has received its largest order ever for a single ring style for 10,000 pieces with a value of approximately Rs 35 crore from a large US based retailer. With this, the company’s open order value crosses Rs 70 crore as on date.

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

 

28-Jun-2019

Infosys’ arm launches AssistEdge Engage at CCW Vegas

EdgeVerve Systems, a subsidiary of Infosys has launched AssistEdge Engage at CCW Vegas. AssistEdge Engage is an intelligent automation platform for contact centers offering smart features that increase agent productivity, satisfaction and elevate customer experience.

With the emergence of RPA and maturity of AI capabilities, there is a significant opportunity for contact centers to relook at the ways in which they can service their customers. Easy to integrate and deploy, AssistEdge Engage harnesses the power of AI and RPA, making it possible for businesses to amplify returns from their existing contact center investments.

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

 

28-Jun-2019

Reliance Nippon acquires additional stake in Cholamandalam Financial Holdings

Reliance Nippon Life Asset Management has acquired additional 5.82 lakh shares in Cholamandalam Financial Holdings. Post-acquisition, total shares of the company increased to 96.21 lakh from 90.39 lakh earlier. The company has acquired these shares on June 26, 2018.

Reliance Nippon Life Asset Management acts as an adviser to India-focussed equity funds and fixed-income funds in Japan and South Korea. It also manages offshore funds through its subsidiaries in Singapore and Mauritius, catering to investors across Asia, the US and Europe.

 

28-Jun-2019

Steel City Securities migrated from SME segment to Main Board of NSE

Steel City Securities has been migrated from SME segment to Main Board of National Stock Exchange (NSE) to create a strong branding and captured the extent market share in the e-Governance Services.

At present the company’s business outlets pan India covers with 250 plus branch and 8500 plus franchisee locations. In e-Governance alone, the company has processed above 10 million pan cards yearly and standing as one of the largest service provider in the country.

Steel City Securities is into the business of providing a trading platform of Capital Market, Futures & Options, Commodities and Currency Derivatives.

 

28-Jun-2019

Power Grid planning to raise funds up to Rs 10,000 crore

Power Grid Corporation of India is planning to raise funds up to Rs 10,000 crore, from domestic market through issue of secured/unsecured, non-convertible, non-cumulative/ cumulative, redeemable, taxable/  tax-free Debentures/ Bonds under Private Placement during the Financial Year 2020-21 in upto twenty tranches/ offers. A meeting of the Board of Directors of the company will be held on July 3, 2019 to consider and approve the same.

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.

 

28-Jun-2019

Godrej Consumer Products’ hair professional brand aiming 25% market in 3 years

Godrej Professional, the first hair professional brand from Godrej Consumer Products (GCPL) is targeting 25 percent of the highly competitive Rs 1,200 crore hair professional market in the next three years. The professional range was introduced two years ago and is meant for only use in salons. Godrej is already into hair colour business as a direct consunmer product and does around Rs 800 crore a year.

Hair professional market is highly competitive with active eight-ten brands and valued at Rs 1,200 crore. Godrej will play around value for money segment in the professional range and will garner 25 percent of the market in 3 years. The company has tapped 5800 salons so far and will increase the figure to 10,000 in a year. In the next five years the target is to ramp it up to 50,000 covering 500 cities with population of one lakh and above.

Godrej Consumer Products is the largest home-grown home and personal care company in India.

 

28-Jun-2019

Cox and Kings defaults on payment of commercial papers

Cox and Kings has defaulted on the payment of commercial papers (CP) due to cash flow mismatch and a situation exacerbated by rating downgrade. The company was required to pay Rs 200 crore, however, Cox & Kings was able to pay only Rs 50 crore and defaulted on Rs 150 crore. However, the company is working towards plans to make good its obligations.

Cox and Kings is engaged in providing travel management solutions. Its services include destination management, outbound tourism, business travel, insurance and conference solutions. The firm also offers domestic holidays, trade fairs, foreign exchange and insurance.

 

28-Jun-2019

IndiGo revises flight cancellation & change fee for both domestic, international flights

InterGlobe Aviation (IndiGo) has decided to revise the flight cancellation and change fee for both domestic and international flights effective from midnight June 27, 2019, to streamline the cancellation process which will further improve travel experience for its passenger.

The revision only applies if the change or cancellation is made within 0-3 days of the travel dates. The charges remain the same in case a passenger is making the change four or more days in advance of the travel dates.

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

 

28-Jun-2019

Add Shop Promotions wins ‘India 100 SME Award’

Add Shop Promotions (ASPL) has won an India’s most prestigious award for Small and Medium Enterprises (SME). ASPL has a new feather in the cap named ‘India 100 SME Award’. The total number of company that participated for the prestigious award was 34,011 and ASPL was among the top 100 companies.

Add Shop Promotions is currently engaged in the business of marketing and distribution of products in the categories of ayurvedic products, food supplement products, agricultural products, animal feed supplement products and personal care products under the brand name ‘Add-Shop Promotions’.

 

 

28-Jun-2019

Tata Steel organizes ‘Kisaan Vaarta’ to educate farmers on new farming techniques

Tata Steel has organized a dedicated workshop called ‘Kisaan Vaarta’ for regional farmers at West Bokaro, to create awareness on new agricultural techniques. More than 250 farmers in and around West Bokaro operational areas participated in the programme.

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.

 

28-Jun-2019

PVR opens 4 screens multiplex at Preston Mall in Hyderabad

PVR has opened 4 screens multiplex at Preston Mall in Hyderabad. This multiplex is equipped with BARCO 4K projection system, Harkness Silver Screen, next-generation 3D-enabled screens and Dolby Atmos surround sound system in all auditoriums. With this launch, the company now operates the largest multiplex network with of 785 screens at 167 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.

 

28-Jun-2019

TT signs Bajrang Punia as brand ambassador

TT has signed wrestler Bajrang Punia as its brand ambassador. The company is confident that Bajrang Punia will create connect with its male target audience and enhance its macho appeal. The company is looking at a 30% growth in turnover of its garment vertical as it deepens its penetration in its major markets with a wider and more appealing product range.

TT is engaged in the manufacturing of combed cotton yarn, carded cotton yarn and knitted fabric cloth. The company is also engaged in the manufacture of undergarments, which were marketed under the brand name TT.

 

28-Jun-2019

USFDA completes inspection at Alembic Pharma’s Solid Oral Oncology facility at Panelav

United States Food and Drug Administration (USFDA) has conducted an inspection at Alembic Pharmaceuticals’ Solid Oral Oncology facility located at Panelav from June 24, 2019 to June 28, 2019. This was a first scheduled inspection and company passed the inspection without any Form 483 Observation.

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

 

28-Jun-2019

MSTC signs agreement with UPRVUNL

MSTC has signed an agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigama (UPRVUNL) to develop an elaborate system for providing e-procurement services enabling UPRVUNL to procure goods, services and works. The Agreement is valid for 1 year.

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

 

 

28-Jun-2019

BSE commences commodity derivatives trading in turmeric

Bombay Stock Exchange (BSE) has commenced commodity derivatives trading in turmeric with a lot size of 10 metric tons. The launch of turmeric futures was done in the Turmeric City of Maharashtra-Sangli. The event witnessed immense support from the turmeric traders of the city.

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

 

28-Jun-2019

KPTL bags new orders worth Rs 975 crore

Kalpataru Power Transmission (KPTL) has secured new orders worth Rs 975 crore. Of total, the company has bagged EPC order for pipeline laying and associated works in India. Also, the company has won two orders for design, supply, erection, testing & commissioning for railway electrification, including OHE, TSS & associated works. Moreover, the company’s international arm has secured new T&D projects in Europe

Kalpataru Power Transmission is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.

 

28-Jun-2019

HPCL ties up with Ashok Leyland for ‘Sadak Ka Saathi’

Hindustan Petroleum Corporation (HPCL) and Ashok Leyland have launched a unique break down maintenance solution titled ‘Sadak Ka Saathi’ for DriveTrack Plus customers.

Under this arrangement, any break down of any make of truck will be attended in 4 hours and if it gets necessitated, free towing will be done to the nearest workshop for further repairs. This is further to the already existing strategic agreements between the two companies for co-branded products ‘eN-Dhan’ on DriveTrack Plus platform.

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

 

28-Jun-2019

ONGC invites offers for enhancing production of oil & gas from its 64 marginal fields

Oil and Natural Gas Corporation(ONGC) has issued a notice inviting partners for enhancement of oil and gas production from its 64 marginal nomination fields with the intention to maximise recovery from these fields by infusion of new technology.

The offer shall allow interested companies to participate in the International Competitive Bidding (ICB) process announced for 17 onshore contract areas comprising of 64 oil and gas producing fields with total in-place O+OEG volume of about 300 MMTOE.

Companies, either alone or in consortium or joint ventures, may bid for one or more contract areas. The bidders are required to fulfil the requisite technical and financial criteria and the bids would be evaluated on the basis of revenue sharing from the incremental oil and gas production.

ONGC is inviting the bids through its e-procurement portal. A pre-bid conference will be held at ONGC Corporate Office, New Delhi. Bidders interested in studying the data can purchase field information dockets and data packages. Interested companies can access the data viewing facility at Institute of Reservoir Studies (IRS), ONGC, Ahmedabad.

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.

 

28-Jun-2019

INOX Leisure commences operations of multiplex cinema theatre in Bengaluru

INOX Leisure has commenced the commercial operations of a multiplex cinema theatre taken on leave and license basis, located INOX Leisure, Garuda Yelahanka, 1st A Main Road, Yelahanka New Town, Bengaluru, with effect from June 28, 2019. The said multiplex cinema theatre has 4 screens and 756 seats.

INOX is now present in 67 cities with 142 Multiplexes, 587 screens and a total seating capacity of 1,38,106 seats across India.

INOX Leisure is amongst India’s largest multiplex chains.

 

28-Jun-2019

DLF’s promoters infuse Rs 2,250 crore: Report

DLF’s promoters has reportedly infused the last tranche i.e. Rs 2,250 crore in the company against issuance of new equity shares. This will help the company to trim its debt and strengthen its cash reserves.

The fresh infusion through two holding entities – Rajdhani Investments & Agencies and DLF Urva Real Estate Developers & Services – takes the promoters’ collective stake to 74.95 per cent in the company.

The current tranche of capital invested concludes the induction of capital of Rs 11,250 crore by the promoter/promoter group as planned in December 2017.

DLF is one of India’s biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.

 

28-Jun-2019

MCGM grants part occupancy certificate to Bombay Dyeing’s Dadar-Naigaon project

The Municipal Corporation of Greater Mumbai (MCGM) has granted part occupancy certificate for Bombay Dyeing & Manufacturing Company’s Part 2 development work of Residential building (Two ICC Building) on plot bearing C. S. No./CTS No. 120, 1/128 & 223 of Division Dadar-Naigaon at G. D. Ambekar Road, Mumbai on June 27, 2019. It’s an important document for a project and signifies that building is fit for an occupation.

Bombay Dyeing & Manufacturing Company is a holding company that is engaged in finishing of cotton and blended cotton textiles; manufacturing of bedding, quilts, pillows and sleeping bags; real estate activities, and manufacturing of polyester Staple Fiber (PSF).

 

28-Jun-2019

Excel Industries to acquire manufacturing unit of NetMatrix Crop Care

Excel Industries has received approval for acquisition of a chemical manufacturing unit of NetMatrix Crop Care located at Andhra Pradesh Special Economic Zone, Visakhapatnam in the state of Andhra Pradesh as a going concern by way of slump sale. The cost of acquisition is Rs 95 crore.

The Board of Directors of the Company at its meeting held on June 27, 2019 has approved the same.

Excel Industries is engaged in the manufacturing of Agrochemical intermediates, phosphates, speciality chemicals, biocides and pharma products.

 

28-Jun-2019

Lupin gets tentative USFDA approval for Mirabegron Extended Release Tablets

Lupin has received tentative approval for its Mirabegron Extended Release (ER) Tablets, 25 mg and 50 mg, from the United States Food and Drug Administration (USFDA), to market a generic version of Myrbetriq Extended Release Tablets, 25 mg and 50 mg, of Astellas Pharma Global Development Inc. (Astellas).

The company’s Mirabegron ER Tablets, 25 mg and 50 mg, is a generic version of Myrbetriq Extended Release Tablets, 25 mg and 50 mg, of Astellas. It is indicated for the treatment of Overactive Bladder (GAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency.

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

 

28-Jun-2019

IndiGo commences operations of 6 new flights to enhance regional connectivity

InterGlobe Aviation (IndiGo) has commenced operations on 6 new connections including 4 RCS routes Kolkata-Prayagraj (Allahabad), Prayagraj (Allahabad)-Kolkata, Raipur-Prayagraj (Allahabad) and Prayagraj (Allahabad)-Raipur.

The new routes will be serviced by an ATR aircraft. IndiGo continues to strengthen its domestic connectivity with new flights between Kolkata, Prayagraj (Allahabad), Raipur and Jabalpur, while developing regional hubs at Prayagraj (Allahabad) and Kolkata.

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

 

28-Jun-2019

Infosys McCamish partners with Pan-American Life Insurance Group

Infosys McCamish, a US based subsidiary of Infosys BPM, a part of Infosys has entered into partnership with Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance.

As part of the partnership, Infosys McCamish will provide policy administration services for PALIG’s new Global Assets Indexed Universal Life (IUL) product. The new product gives insureds the flexibility of choosing a fixed return account or one whose returns are determined by the performance of a major trading index, such as the S&P 500 (SPX), EURO STOXX 50 (SX5E) and Hang Seng Index (HSI).

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

 

28-Jun-2019

Insilco keeps plant shut due to high inventory

Insilco has kept its plant shut from June 27, 2019 to July 09, 2019 due to high inventory. The company will also carry out preventive maintenance and cleaning during this time. 

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

 

28-Jun-2019

Wipro exits JV by selling remaining 11% stake to Antariksh Softtech

Wipro has exited its joint venture (JV) Wipro Airport IT Services (WAISL) by selling its remaining 11 per cent shareholding to Antariksh Softtech for Rs 55 lakh. In April last year, the company had sold 63 per cent of its stake in WAISL to Antariksh Softtech in a Rs 3.15 crore deal.

WAISL was a JV between Wipro (74 per cent) and Delhi International Airport (DIAL), which held 26 per cent stake. It provided various IT services at the Indira Gandhi International Airport in New Delhi.

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

 

28-Jun-2019

Shree Cement starts commercial production of new cement grinding unit in Jharkhand

Shree Cement has commenced commercial production at its new Cement Grinding Unit having capacity of 2.50 MTPA set-up at Seraikela- Kharsawan District in Jharkhand.

Shree Cement is a rapidly growing Company focused on its core business of Cement & Power. Currently, its manufacturing operations are spread over North and Eastern India across six states.

 

28-Jun-2019

Shriram Transport Finance planning to raise funds via various means

Shriram Transport Finance Company is planning to raise funds through various options of borrowings including by way of issue of debt securities in onshore/offshore market by public issue or private placement basis.

Based on the market conditions the meeting of Banking and Finance Committee/Debt Issuance Committee – Public NCDs or Bond Issuance Committee will be held during the month ending July 31, 2019 to consider and approve the terms and conditions including the issue price of debt securities.

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

 

28-Jun-2019

Tech Mahindra enters into strategic partnership with Prometeia

Tech Mahindra and Prometeia, a leader in risk management consulting and software solutions have entered into strategic partnership to provide Governance, Risk and Compliance services to banks in order to improve their overall performance, in line with Basel III framework.

Basel III is a set of international banking regulations developed to promote stability in the international financial system. Tech Mahindra’s capabilities in banking risk management & compliance, business intelligence, analytics, data management and system integration, combined with Prometeia’s ability to provide local industry specialists, will help in effectively responding to regulatory challenges impacting banks all over the world.

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.

 

28-Jun-2019

Bank of Maharashtra planning to raise up to Rs 3,000 crore equity capital

Bank of Maharashtra is planning to raise up to Rs 3,000 crore equity capital through various modes, including follow-on public offer or preferential issuance of shares. The decision was taken at the bank’s annual general meeting held on June 27, 2019.

Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors.

 

28-Jun-2019

MMTC considers divestment of its equity held in JV

MMTC is considering divestment of MMTC’s equity in the JV Company — Neelachal Ispat Nigam.

Neelachal Ispat Nigam is a company promoted by MMTC, Industrial Promotion and Investment Corporation of Orissa.

MMTC is engaged in the business of metals, fertilizers, agro products, precious metal, mineral & ores, hydro – carbon.  It’s the largest non-oil importer in India.

 

28-Jun-2019

SIS’ arm to acquire entire stake in Triton Group

Security and Intelligence Services’ (SIS) subsidiary–Platform 4 Group (P4G) has signed definitive agreements to acquire 100% of the equity shareholding in Triton Security Services along with its subsidiary, The Alarm Centre (Triton Group) on June 27, 2019.

The acquisition would help P4G and SIS Group to add alarm monitoring offerings to its service portfolio in the New Zealand market. P4G will pay a purchase consideration of NZD 5.58 Mn for the 100% equity shareholding.

SIS is a leading provider of private security and facility management services in India.

 

28-Jun-2019

NHPC rolls out livelihood intervention project in Assam: Report

NHPC has reportedly launched a livelihood intervention project in Assam. The company has a limited budget of Rs 30 crore for this, expandable to Rs 100 crore. Designed and implemented by the Institute of Rural Management, Anand, (IRMA), the NHPC sponsored project works on multi-sectoral collective enterprise model, whereby there will be no beneficiary but stakeholders.

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

 

28-Jun-2019

GHCL issues commercial paper worth Rs 25 crore

GHCL has placed the Commercial Paper (CP) amounting to Rs 25 crore. The said CP is a part of Rs 100 crore limit as approved by the Board of Directors in their meeting held on January 21, 2019 and shall be part of the existing working capital limit.

GHCL is a leading producer of synthetic soda ash in India with an installed capacity of 8.5 lakh tonnes Per Annum (TPA) located in Gujarat. Over the years, it has diversified into yarn and home textile products.

 

28-Jun-2019

ZF Friedrichshafen AG to acquire WABCO India’s parent company

WABCO Holdings Inc., a parent company of WABCO India, has received shareholders’ approval for its acquisition by ZF Friedrichshafen AG (ZF), a privately held global technology company and systems supplier for passenger cars, commercial vehicles and industrial technology.

Under the agreement, ZF will acquire all outstanding shares of WABCO for $136.50 per share in an all cash transaction for an equity value of over $7 billion.

Wabco India is engaged in the manufacture of air brake actuation systems for commercial vehicles. The company is one of the leading providers of electronic braking, stability, suspension and transmission control systems to the global commercial vehicle industry.

 

28-Jun-2019

TCS launches TCS Pace Port New York

Tata Consultancy Services (TCS) has launched TCS Pace Port New York, a new co-innovation and advanced research center designed to help customers successfully navigate their Business 4.0 transformation journeys.

The creative hub, located in the Tata Innovation Center on the Cornell Tech campus, is a catalyst for multidisciplinary collaboration between TCS, its customers, Cornell Tech students and faculty, and local startups, for rapid prototyping, research and commercializing of cutting-edge technologies.

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.

 

28-Jun-2019

L&T gets over 60% holding in Mindtree

Larsen & Toubro (L&T) has acquired a majority 60 per cent stake in Mindtree after its open offer to buy 31 per cent shares got over-subscribed. The company had bought 20.32 per cent shares in Mindtree from V G Siddhartha and his coffee enterprise for over Rs 3,000 crore in March and subsequently made an open offer to buy an additional 31 per cent stake.

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

 

28-Jun-2019

Glenmark Pharma’s arm receives USFDA’s approval for Ezetimibe and Simvastatin Tablets

Glenmark Pharmaceuticals’ subsidiary — Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Ezetimibe and Simvastatin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, a generic version of Vytorin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, of MSD International GmbH. 

According to IQVIA sales data for the 12 month period ending April 2019, the Vytorin Tablets market achieved annual sales of approximately $92.4 million.

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).

 

28-Jun-2019

Tata Steel organizes Joint Mass Communication Program

Tata Steel’s Spares & Services Department has organized a Joint Mass Communication Program (JMCP), which is a communication forum where the senior leadership interacts with the shop floor contractor employees to improve workplace safety and get their involvement in the ‘Zero Harm to Contractor Employees’ program.

During the Open sessions, safety related concerns and suggestions on amenities were discussed and appropriate actions and ways of implementation and improvement were agreed to.

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.

 

27-Jun-2019

Profile: SK International Export

SK International Export 

SK International Export  was originally formed as partnership firm constituted under the Indian Partnership Act, 1932 (the Partnership Act) in the name of S.K International (Export) Co., pursuant to a deed of partnership dated November 01, 1991 and subsequent change including addition and retirement of partners by way of partnership deed dated May 18, 2018 thereafter conversion from a partnership firm to a public limited company under Part I of Chapter XXI of the Companies Act, 2013 with the name SK International Export Limited and received a certificate of incorporation from Registrar of Companies, Mumbai on September 13, 2018.

Business area of the company

The company is engaged in manufacturing and marketing apparels for women and men, like scarves, shawls, sarongs, headband & bandanas and Beachwear garments in all qualities like silk, viscose, cotton, polyester & wool and several blends. Under Sand Kastle brand name, the company offers fashion accessories, holiday and beachwear wear garments for kids segment as well.

Milestones:

• 1991-2016: Catered to European market (Spain, Germany, France, Netherlands, UK)for scarves and
  beachwear.
• 2017: Started Selling in US Market.
• 2018: Conversion from Partnership to Company as SK International Export Limited.
• 2018: Entered into the Domestic Market.
• 2018: Started a new Brand in the Name of Sand Kastle for Kids wear & entered in E-Commerce Platform.
• 2018: Agreement with renowned Retail Chains for fashion Apparels.

 

27-Jun-2019

Profile: AB Infrabuild

The Company was originally incorporated as ‘AB Infrabuild Private Limited’ at Mumbai on March 16, 2011, under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Mumbai. Subsequently, the name of the company has been changed to ‘AB Infrabuild Limited’ on June 20, 2018 and a fresh Certificate of Incorporation consequent upon change of name was issued by the Registrar of Companies, Mumbai.

Business area of the Company:

The company is mainly engaged in providing Road Over Bridge (ROB) and Foot Over Bridge (FOB) related services. The company also offers services in the area of new station infrastructure, civil & structural work, track formation, track linking, gauge conversion, and new railway lines. It is also involved in building road contracts, Infrastructure, and steel grinder bridges.

Key Events and Milestones:

• 1999 – 2010: Its promoter Amit Bholanath Mishra founded AB Enterprises focusing on Civil Works bagged its 1st contract from railways (WR) worth Rs 2.58 Crores, thus venturing into Railway contract works.
• 1999 – 2010: Achieved turnover of Rs 25 Cr in FY9-10 and was awarded certification of appreciation from WR for completion of work before time.
• 2011:  Incorporated AB Infrabuild Private Limited on March 16, 2011 and forayed into RMC manufacturing by setting up a manufacturing unit at Thane. Purchased 20 Transit Mixers.
• 2012: Took over the proprietary business of its promoter Amit Bholanath Mishra, AB Enterprises
• 2012: Company crossed a turnover of Rs 50 Cr in FY11-12 achieving a top line of Rs 57.24 Cr
• 2012: The Company bagged two contracts worth approx. Rs 40 Cr for construction of ROB (Rail over bridge) between Jogeshwari and Goregaon.
• 2014 – 2015: Company also ventured into Road works bagging its first contract from MCGM.
• 2016 – 2017: Bagged first contract from MMRDA worth Rs 25 Cr in FY16-17
• 2016 – 2017: Awarded its very first contract for construction of Bridge by BMC, worth of Rs 147 Cr. 

 

27-Jun-2019

Sun Pharma enters into license agreement with CMS for Tildrakizumab

Sun Pharmaceutical Industries’ one of wholly owned subsidiaries has entered into a licensing agreement with a subsidiary of China Medical System Holdings (CMS) for the development and commercialization of Tildrakizumab, an innovative biologic product, for psoriasis and psoriatic arthritis in Greater China (including Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan).

Under terms of the license agreement, CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the terms of which are confidential. CMS will be responsible for development, regulatory filings and commercialization of the product in China. The initial tenure of the agreement shall be 15 years from the first commercial sale of Tildrakizumab in Greater China, and may be extended for additional 3 years’ subject to certain conditions defined in the agreement.

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

 

27-Jun-2019

Sun Pharma inks license agreement with CMS for Cyclosporine

Sun Pharmaceutical Industries’ wholly owned subsidiary has entered into an exclusive licensing agreement with a subsidiary of China Medical System Holdings (CMS) for the development and commercialization of Cyclosporine A 0.09% (CsA) eye drops, an innovative formulation, for dry eye disease in Greater China (including Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan).

Under terms of the license agreement, CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the terms of which are confidential. CMS will be responsible for development, regulatory filings and commercialization of the product in China. The initial tenure of the agreement shall be 15 years from the first commercial sale of CsA in Greater China, and may be extended for additional 3 years subject to certain conditions defined in the agreement.

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

 

27-Jun-2019

Prism Johnson planning to raise funds

Prism Johnson is planning to raise funds through issue of Unsecured, Rated, Listed, Non-convertible Debentures, on private placement basis. The Board of Directors at their meeting to be held on July 5, 2019, will consider the same.

Prism Cement is a building materials company. The company has interest in Portland cement, tiles, bathroom and kitchen (TBK) and ready mixed concrete (RMC).

 

27-Jun-2019

Fredun Pharmaceuticals wins ‘Best Healthcare Brands of 2019’ award

Fredun Pharmaceuticals has received a prestigious and a well-recognized award in the Pharma Sector ‘Best Healthcare Brands of 2019’ at Economic Times Best Healthcare Brands, 2019 presented to the company on June 26, 2019.

Fredun Pharmaceuticals was established to produce drugs of international standards at affordable prices. The company produces anti -bacterial, anti-malarial, anti-diabetic tablets, capsules and dry syrups. 

 

27-Jun-2019

SpiceJet launches daily non-stop flight connecting Mumbai with Hong Kong

SpiceJet has launched a daily non-stop flight connecting India’s financial capital Mumbai with Hong Kong. SpiceJet is the only Indian carrier to connect Mumbai with Hong Kong with a daily non-stop flight effective 31 July, 2019.

One of the top tourist destinations in the world, Hong Kong is also connected to Delhi with a daily non-stop flight by SpiceJet. SpiceJet will deploy its 168-seater Boeing 737-800 aircraft on the sector.

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

 

27-Jun-2019

Bharti Airtel introduces ‘AirtelThanks’ campaign for V-Fiber Home Broadband customers

Bharti Airtel has introduced a new ‘AirtelThanks’ campaign, which is exclusively for its V-Fiber Home Broadband customers. The company is offering them more data, along with extra benefits like access to content from Netflix, Amazon, ZEE5 to those with home broadband plans of Rs 1099 per month and higher.

As part of its ‘AirtelThanks’ benefits, the company will give its subscribers three months subscription gift to Netflix, one year Amazon Prime membership and access to premium content on ZEE5 and Airtel TV.

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

 

27-Jun-2019

Westlife Development’s arm launches 300th restaurant in Mumbai

Hardcastle Restaurants (HRPL), a Master Franchisee for West & South India operations of McDonald’s restaurants and a subsidiary of the Westlife Development, has launched 300th restaurant in West and South India, at Churchgate, an iconic landmark in Mumbai. HRPL commemorated this milestone by reinforcing its commitment to grow the business sustainably – in a way that’s good for the people, the community and the planet.

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

 

27-Jun-2019

Seshasayee Paper & Boards proposes to undertake Mill Development Plan -MDP-III

Seshasayee Paper & Boards has proposed to undertake Mill Development Plan -MDP-III at an estimated cost of Rs 315 crore at its Erode unit. The project will be taken up in convenient phases and implemented between 9 months and 21 months. The work on the project will commence in 02 of Financial Year 2019-20. Funding of this project will be through internal accruals and long term loans, which will be decided in the ensuing Board Meeting scheduled on July 27, 2019.

The project is for upgradation and modernisation of the Paper Machines to increase the capacity from 132000 tonnes per annum to 165000 tonnes per annum, up-gradation and modernisation of the RDH Pulp Mill to increase the capacity to 154000 tonnes per annum, up-gradation of the recovery Island and augmentation of waste water treatment plant.

Seshasayee Paper & Boards operates an integrated pulp, paper and paper board Mill. The product range of the company includes MF I And MF II, MG, Yankee and MF3. 

 

27-Jun-2019

Tata Power launches new module ‘Water Conservation’ for Club Enerji

Tata Power Company has launched its new module ‘Water Conservation’ for Club Enerji. With a vision to transform by adopting a holistic and robust approach towards water and energy conservation, the module aims to educate young minds on the importance and methods of saving water & energy.

To communicate the message, the company has developed visually rich content, a series of educative videos about several aspects of saving water at home, in their community and in their city. The film shows how water is an important part of generating electricity, and that saving electricity in turn helps save water. 

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.

 

27-Jun-2019

Max India gets nod to divest 85.17% stake in Pharmax Corporation

Max India has received an approval for divestment of entire equity shareholding in its material subsidiary viz. Pharmax Corporation (Pharmax) (equivalent to 85.17% of Pharmax’s total issued and paid-up equity share capital) to Max Estates, a wholly owned subsidiary of Max Ventures and Industries for an aggregate consideration of Rs 61.2 crore. The Board of Directors of the company at its meeting held on June 26, 2019 has considered and approved the same.

Max India is engaged in the business of investments and providing consultancy services to group companies. The company’s segments are Healthcare Business, Business Investments, Health Insurance, Senior Living and Others.

 

27-Jun-2019

Max Ventures gets nod to further invest in Max Estates

Max Ventures and Industries has received an approval for further investment / loan in Max Estates (MEL), a wholly owned subsidiary of the company. MEL shall utilize the aforesaid funds for acquisition of around 85.17% equity share capital of Pharmax Corporation (Pharmax), from Max India, another Max Group Company for an aggregate consideration of Rs 61.2 crore.

Consequent to the completion of the acquisition, Pharmax shall become a step down subsidiary of the company. The Board of Directors of the company at its meeting held on June 26, 2019 has considered and approved the same.

Max Ventures and Industries, a part of the $3 billion Max Group, operates primarily in the areas of manufacturing and real estate.

 

27-Jun-2019

NMDC issues termination notice to BHEL for delay in contract

NMDC has issued a termination notice to Bharat Heavy Electricals (BHEL) as the latter has not been able to complete a Rs 1,395 crore contract awarded in 2011. The completion date of the work was February 28, 2014.

BHEL, in 2011, had bagged the Rs 1,395 crore contract from NMDC for handling raw material at its steel plant in Nagarnar, Chhattisgarh.

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

 

27-Jun-2019

KIOCL signs MoUs for sale of pellets in European Market

KIOCL has signed memorandum of understandings (MoUs) at METEC- 2019 at Dusseldorf, Germany for Sale of Pellets in European Market including UK with two Companies i.e. Glencore International AG and Steel Mont GMBH.

KIOCL is Asia’s largest iron ore mining and pelletisation complex and the country’s biggest 100% export oriented unit engaged in the business of exporting high quality iron oxide pellets and pig iron.

 

27-Jun-2019

NHPC signs MoU with Ministry of Power for year 2019-20

NHPC has signed Memorandum of Understanding (MoU) with Ministry of Power, Government of India for the year 2019-20. In the signed MoU for NHPC, generation target under excellent rating has been set as 26000 MU as against last year target of 25400 MU. Excellent Targets for Revenue from Operations (Net) has been kept as Rs 8200 crore, Operating Profit as a percentage of Revenue from Operations (Net) has been kept as 28.50% and PAT/ Average Net Worth has been kept as 8.75%.

Further, Capex target to ensure optimum utilization of budget, targets regarding Plant Availability Factor, Trade Receivables and Reduction in claims against the company not acknowledged as debt etc. have been included in the MoU. In addition, milestones in respect of Human Resource Management parameters and other sector specific parameters viz. reduction in O&M expenses over 2018-19 etc. have also been included in the MoU.

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

 

 

27-Jun-2019

TCS adopts data driven insights to increase impact of community initiatives in North America

Tata Consultancy Services’ (TCS) corporate social responsibility (CSR) team in North America is adopting data driven insights to increase the reach and impact of its community initiatives. Through a digital transformation project, TCS is now able to draw upon its vast data sets of community service projects and programs and rich contextual knowledge to provide meaningful insights that can improve collaboration, teamwork and contributions to community efforts.

The solution also enables the TCS CSR team to make timelier, data-driven decisions and save time by automating the reporting of key metrics around TCS’ community outreach efforts, freeing up valuable resources that can be devoted to core programs. The data lake also powers visualization tools and generates automated reports that help CSR team members prioritize resources based on local community needs and potential impact.

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.

 

27-Jun-2019

Future Consumer’s JV expects revenue of Rs 6,000 crore over 4-5 years

Fonterra Future Dairy, the equal joint venture (JV) between Future Consumer and the New Zealand-based dairy major Fonterra, is expecting a revenue of Rs 6,000 crore and become one of top four players over the four-five years.

Future Consumer (formerly Future Consumer Enterprise) is a holding company. It is a food company, which is engaged in branding, marketing, sourcing, manufacturing and distribution of fast moving consumer goods, food and processed food products. It also has agri-sourcing operations in India.

 

27-Jun-2019

Future Consumer’s JV launches dairy brand ‘Dreamery’

Future Consumer and the New Zealand-based dairy major Fonterra’s joint venture (JV) — Fonterra Future Dairy has launched dairy brand ‘Dreamery’. Under this brand, the Fonterra Future Dairy has launched ultra-high temperature (UHT) toned milk, Dahi (Curd), chocolate and strawberry milkshakes.

Future Consumer (formerly Future Consumer Enterprise) is a holding company. It is a food company, which is engaged in branding, marketing, sourcing, manufacturing and distribution of fast moving consumer goods, food and processed food products. It also has agri-sourcing operations in India.

 

27-Jun-2019

True North sells 7.39% stake in Aster DM Healthcare

True North has sold 7.39% stake in Aster DM Healthcare worth over Rs 448 crore through open market transactions. A total of 3.73 crore shares, amounting to 7.39% stake, were offloaded by True North Fund III A at a price of Rs 120.03 per scrip, translating into a Rs 448.47 crore transaction.

Aster DM Healthcare operates as a healthcare company in the Middle East, India, and the Far East. It operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems.

 

27-Jun-2019

Olympic Cards planning to sell property located at Chennai

Olympic Cards is planning to sell its property at No.4/8 (25/8) United India colony I Main Road, Kodambakkam, Chennai. The meeting of the Board of Directors of the company is scheduled to be held on July 12, 2019, to consider the same.

Olympic Cards is the Manufacturer and Supplier of Invitation cards for all occasions.

 

27-Jun-2019

Eicher Motors’ motorcycle arm to adopt dry wash system in all service centres

Eicher Motors’ motorcycle arm — Royal Enfield will adopt dry wash system in all its service centres in the city, which has been reeling under a severe water crisis. The implementation of this system will help save approximately 18 lakh litres of water every month.

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.

 

27-Jun-2019

Birlasoft wins ‘Distinguished Partner’ Award

Birlasoft has won the Distinguished Partner Award in the ‘Successful Adoption of UX One’ category at the 10th Annual Oracle JD Edwards Summit. The award recognizes company’s leadership role in JD Edwards EnterpriseOne UX One, an innovative experience that enables users to perform their daily tasks more efficiently using an Alert-Analyze-Act design paradigm.

The company successfully implements and delivers UX One content such as watch lists, analytic components, list view, enterprise search, and simplifying forms via form personalization and form extensions.

Birlasoft combines the power of domain, enterprise and digital technologies to reimagine business processes for customers and their ecosystem. The company’s consultative and design thinking approach makes societies more productive by helping customers run businesses.

 

27-Jun-2019

Persistent Systems acquires youperience

Persistent Systems has acquired European Salesforce consulting partner youperience. Together with previously acquired Salesforce Platinum Consulting Partner PARX, the professionals from these two boutique Salesforce shops combined with Persistent’s existing Salesforce experts will further strengthen the company’s ability to provide exceptional Salesforce outcomes to its global customers.

With a combined 170 employees in four countries (Germany, Switzerland, Austria, France), the integration of these two renowned boutique partners creates an important European player in the fast growing Salesforce partner ecosystem, providing wide-ranging and long-standing expertise in Salesforce cross-cloud projects. youperience is a young and highly dynamic Salesforce partner with outstanding expertise in the Marketing Cloud, complementing the Salesforce professionals at PARX who deliver strong offerings in the full range of Salesforce services.

Persistent Systems is a global company specializing in software product and technology services. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare and banking & financial services verticals.

 

27-Jun-2019

Jet Airways’ bilateral flying rights with 5 countries temporarily allocated to Air India

Jet Airways’ bilateral flying rights with five countries, which were previously allocated to the airline, have now been temporarily given to Air India till the end of the summer schedule of this year. The domestic slots for 22 flights, which were vacated by Jet Airways, have been allocated to Air India.

The airline has ran out of funds, it had shut down its operations on April 17 this year which lead to a sudden rise in domestic and international airfares.

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

 

27-Jun-2019

Parag Milk Foods launches new GO Cheese campaign ‘Har Tasty Cheez Mein Go Cheese’

Parag Milk Foods has launched a new GO Cheese campaign ‘Har Tasty Cheez Mein Go Cheese’. The TVC narrates a story of cheese lovers enjoying the delightful and happy moments with the type of cheese that suits their palate.

The new campaign is an effort to educate consumers on Go Cheese being the key ingredient in most loved dishes like pizza, fries and street sandwiches, which is being consumed almost every day out of the home at various QSRs & hotel chains.

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

 

27-Jun-2019

Maruti Suzuki launches mobile training center ‘Skill on Wheels’

Maruti Suzuki India has launched yet another innovative concept to upgrade skills and capabilities of employees at its vendors. This unique ‘Skill on Wheels’ mobile training center will reach out to Maruti Suzuki vendors located across Delhi NCR region to impart training, to their employees, at their doorstep.

‘Skill on Wheels’ is conceptualized & executed by Maruti Center for Excellence (MACE), a society formed by Maruti Suzuki India and 21 of its vendor partners. This mobile center will provide training in areas of Preventive & Predictive Maintenance, Low Cost Automation and Energy Management. Additionally, the facility is equipped to provide training in Safety, Quality and soft skills.

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

 

27-Jun-2019

Havells India aims Rs 1,000 crore revenue from switchgears over next three years

Havells India is eyeing at a Rs 1,000 crore revenue from building circuit protection devices over the next three years, with the launch of its new series of technologically advanced miniature circuit breakers (MCBs) and residual current circuit breakers (RCCBs). The company is the leader in the domestic switchgear segment in the country and the new range will further cement its leadership position.

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.

 

27-Jun-2019

NMDC starts scheme to support higher studies of Bastar students

NMDC in association with Chhattisgarh Government runs an education initiative named ‘Choo Lo Asman’ for supporting students of Bastar region of Chhattisgarh for preparing them technically and academically competent to pursue higher studies in different disciplines like Engineering and Medical courses.

To encourage and support the successful candidates from Bastar region of Chhattisgarh in the premier entrance examinations like IIT-JEE and AIIMS, NMDC has started a scheme for sponsoring their studies in IIT & AIIMS with an amount of Rs 5.00 lakh for each student. The sponsored amount of Rs 5.00 lakh will be provided to these talented students during the entire course in equal annual installments. For the present year, NMDC is going to sponsor four students of Bastar region of Chhattisgarh who have cleared JEE, Advance Entrance recently in 2019

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

 

27-Jun-2019

RInfra’s sale of Delhi-Agra Toll Road to close by August end

Reliance Infrastructure’s (RInfra) sale of Delhi Agra (DA) toll road to Cube Highways and Infrastructure III will be close by the end of August 2019. Reliance Infrastructure had signed a binding Share Purchase Agreement with Cube Highways for its 100% stake in DA toll road.

Reliance Infrastructure will receive Enterprise Value of Rs 3,600 crore including equity of up to Rs 1,700 crore. Reliance Infrastructure will utilise 100% of proceeds only for debt reduction. With this single transaction of DA toll road, debt of Reliance Infrastructure will reduce by over 25% to less than Rs 5,000 crore

Reliance Infrastructure has already applied for Commercial Operations Date (COD) to National Highways Authority of India (NHAI) for the project. DA toll road collection period is until 2038 i.e. further 19 years to go.

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.

 

27-Jun-2019

HCL Technologies to offer over 3,000 job opportunities to freshers at Noida campus

HCL Technologies will offer more than 3,000 job opportunities to freshers at its Noida campus. The company will organize a mega recruitment drive in Noida on July 6-7 for graduates and students who have completed their schooling.

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

 

27-Jun-2019

DCW raises Rs 4.60 crore via NCDs

DCW has raised funds through allotment of third tranche of 460 Unrated Unlisted Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1 lakh aggregating to Rs 4.60 crore on a private placement basis.

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

 

27-Jun-2019

SBI planning to raise additional tier-1 capital

State Bank of India (SBI) is planning to raise Additional Tier 1 (AT1) Capital by way of issuance of Basel-III compliant debt instrument in USD and/ or INR from domestic/International market during FY 2020 subject to GoI concurrence. The meeting of Central Board of the Bank is scheduled to be held on July 1, 2019 to consider the same.

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.

 

27-Jun-2019

M&M to introduce Super XUV300 in Rally Championship

Mahindra and Mahindra (M&M) will introduce all new Super XUV300 in the upcoming Rally Championships. The XUV300’s head-turning, cheetah-inspired design, ‘fun-to-drive’ performance and best-in-segment safety features make it a perfect fit for the rally circuit. The Super XUV300 is developed set the trails ablaze, during rallies, with its petrol and diesel-powered engines.

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.

 

27-Jun-2019

L&T’s arm secures twin contracts from ONGC

Larsen & Toubro’s (L&T) subsidiary — L&T Heavy Engineering (LTHE) has won twin orders from Oil & Natural Gas Corporation (ONGC). The secured order is in the range of Rs 2500 to 5000 crore.

The Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract awarded are for development of Heera Panna Block of Western Offshore basin which is located about 70 km of South West of Mumbai High. Project includes two (02 Nos.) well head platforms, -49km subsea rigid pipelines, 10 nos. of riser installation and modification work at seven existing platforms and Heera Process Complex.

Further the second order is for development of Mumbai High South field of Western Offshore basin which is located about 210 km to the West of Mumbai city. Project includes one (01 No.) Water Injection Process platforms bridge connected to existing WIS platform, 100 men Living Quarter, modification and interconnection of all the utilities with existing WIS, BHS, SLQ platforms.

The contracts have been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis. This award reposes ONGC’s confidence in LTHE’s EPCIC capabilities and LTHE’s commitment to continue to support ONGC and contribute to India’s energy security.

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

 

27-Jun-2019

Sunteck Realty to build expansive portfolio in Commercial & Retail Properties over next 4 years

Sunteck Realty is gearing to create a large portfolio with an investment of Rs 5,000 crore in commercial and retail properties over the next 4 years. This well planned strategic growth in the Commercial and Retail Real Estate Market will set a benchmark trend.

The company is now focusing on building a premium commercial and retail portfolio of around 3 mn sq. ft. in ODC, around 1.5 to 2 mn sq. ft. in and around BKC, and around 1 mn sq. ft. in Naigaon. Thus a total of over around 6 mn sq. ft. Furthermore, the company is exploring opportunities in the western suburbs of Mumbai to grow this retail & commercial portfolio.

Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.

 

27-Jun-2019

Hulst B.V. increases stake in NIIT Technologies to 33.95%

Hulst B.V. has acquired 34,924 equity shares with face value of Rs 10 each of NIIT Technologies, on June 26, 2019. After this acquisition, the entity’s stake in the company has been increased from 33.89% to 33.95%.

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

 

27-Jun-2019

CreditAccess Grameen completes direct assignment of Rs 138.89 crore

CreditAccess Grameen has completed a direct assignment of Rs 138.89 crore on June 26, 2019. This is the first Direct Assignment transaction initiated during the FY2019-20. With this transaction, the company has completed one Securitization and one Direct Assignment transaction totaling to Rs 249.24 crore in FY-2019-20.

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

 

27-Jun-2019

Infosys’ arm launches AssistEdge Engage to redefine contact center experience

Infosys’ subsidiary — EdgeVerve Systems has launched AssistEdge Engage at CCW Vegas. AssistEdge Engage is an intelligent automation platform for contact centers offering smart features that increase agent productivity, satisfaction and elevate customer experience.

With the emergence of RPA and maturity of AI capabilities, there is a significant opportunity for contact centers to relook at the ways in which they can service their customers. Easy to integrate and deploy, AssistEdge Engage harnesses the power of AI and RPA, making it possible for businesses to amplify returns from their existing contact center investments.

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

 

27-Jun-2019

Welspun enters into JV with Sense Organics Import

Welspun India has entered into joint venture with Sense Organics Import & Trading GmbH, Germany (SOIT) and has acquired 51% of the share capital, at, par, of Pure Sense Organics Myanmar (PSOML) in Myanmar. The company will be investing amounts upto $140,000 during year 2019 as a part of the Company’s sustainable sourcing strategy.

Welspun India is one of the largest manufacturers and exporters of bed & bath textile products globally. The company’s portfolio comprises wide range of home textile products such as terry towels, bed linen (basic bedding and decorative bedding) rugs and bathrobes.

 

27-Jun-2019

Vedanta aims to be among top three steel players in India

Vedanta is aiming to be among the top three steel players in the country. In this regard, the company has plans to enhance the production capacity to 10 million tonnes over the next 5-6 years. The company had forayed into steel with takeover of Electrosteel Steels Ltd (ESL) from the NCLT last year. In the next two years, the current capacity of 1.5 million tonnes will be doubled with a capex of Rs 4000-5000 crore.

The company will increase the capacity at Bokaro (the site of ESL) to 6 million tonnes and the remaining 4 million tonnes could be from greenfield or acquisitions.

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.

 

27-Jun-2019

MSTC inks agreement with Kerala State Electricity Board

MSTC has signed an agreement with Kerala State Electricity Board for providing e-procurement services to them for their solar project across the state. As a part of agreement, the company shall be developing online portal for Kerala State Electricity Board.

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

 

27-Jun-2019

APSEZ gets nod to raise $750 million via Notes

Adani Ports and Special Economic Zone (APSEZ) has received approval from its finance committee for issuance of fixed rate senior unsecured Notes aggregating to $750 million. The committee has also approved the pricing, tenure and other terms of the Notes.

The company intends to use the proceeds primarily for capital expenditure, including on-lending to subsidiaries for capital expenditure purposes, and the remainder for repaying existing indebtedness. The company has received rating ‘Baa3 (Stable)’ by Moody’s, ‘BBB- (Stable)’ by S&P and ‘BBB- (stable)’ by Fitch for the Notes.

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.

 

27-Jun-2019

DHFL to sell entire stake in two subsidiaries

Dewan Housing Finance Corporation (DHFL) is planning to divest its entire stake in subsidiary firms DHFL Pramerica Asset Managers (DPAMPL) and DHFL Pramerica Trustees. The company has been facing liquidity crisis and has recently defaulted on its repayment obligations.

The company has resorted to various modes of fund mop-up including selling stake in subsidiary firms to meet its debt obligations. The company has already entered into binding term sheet with PGLH of Delaware Inc (Prudential) for divestment of its stake entire shareholding of 50 per cent in DPAMPL.

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

 

27-Jun-2019

UCO Bank sets recovery target of Rs 8,000 crore from NPA in FY20

UCO Bank has set a recovery target of Rs 8,000 crore from the stress account in FY20. This recovery will be part of the 14 accounts for which the Committee of Creditors (CoC) approved the resolution but NCLT has not passed orders. The bank has recovered Rs 1,163 crore so far from six accounts for which NCLT resolution was concluded.

The bank has 183 NPA accounts with a total exposure of around Rs 25,096 crore to NCLT. Of which 109 accounts with an aggregate exposure of Rs 15,865 crore were admitted in the tribunal while 72 accounts for a total exposure of Rs 8,226 crore were not admitted. The remaining two accounts were sold.

UCO Bank is a commercial bank and a Government of India Undertaking. The Bank offers wide range of services includes Personal Banking, Corporate Banking, International Banking, Rural Banking and other services.

 

27-Jun-2019

M&M’s MIUL ceases to be subsidiary of the company

Mahindra & Mahindra’s (M&M) step down subsidiary — Mahindra International UK (MIUL) has ceased to be a subsidiary of Mahindra Overseas Investment Company Mauritius (MOICML) and that of the Company.

Earlier, MIUL, a wholly owned subsidiary of MOICML which in-turn is a wholly owned subsidiary of the Company had filed for voluntary liquidation.

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.

 

27-Jun-2019

Zuari Global to raise Rs 200 crore via NCDs

Zuari Global has received approval for issuance of rated, listed, redeemable, Non-Convertible Debentures (NCDs) of a tenor not exceeding 3 years for an aggregate consideration not exceeding Rs 200 crore on Private Placement basis. The Board of Directors of the Company at its meeting held on June 26, 2019 has approved the same.

Zuari Global, erstwhile Zuari Industries, has been the principal promoter entity for the Zuari Group of Companies, with forays into fertilizer, seeds, engineering, lifestyle industries and services.

 

26-Jun-2019

Profile: KPR Agrochem

The Company was incorporated as ‘K.P.R. Fertilisers Private Limited’ on January 2, 2007 as a private limited company under the Companies Act, 1956 with the Registrar of Companies, Andhra Pradesh. The Company was converted into a public limited company and the name of Company was changed to ‘K.P.R. Fertilisers Limited’ pursuant to a fresh certificate of incorporation consequent upon change of name on conversion to public limited company dated December 19, 2008 issued by the Registrar of Companies, Andhra Pradesh. The name of Company was then changed to ‘K.P.R. Agrochem Limited’ vide a Certificate of Incorporation pursuant to change of name dated September 21, 2015 issued by Registrar of Companies, Hyderabad.

Business area of the company:

KPR Agrochem is an agri-input company focused on manufacturing, distribution and retailing of a wide range of crop yield enhancing and protection products. Its product portfolio includes crop protection, crop nutrients, seeds, veterinary feed supplements. It produces sulphuric acid as well as other sulphuric acid based chemicals like LABSA and oleum that have wider applications across industries like agrochemicals, veterinary feed supplements, pharmaceuticals, synthetic detergents etc. Its range of product encompasses products across the agri-value chain viz., from seeds to crop nutrients products to crop protection products and also veterinary feed supplements.  

Major Events and milestones:

• 2007: Acquisition of the business of Mega Chemicals and Fertilisers and expansion of manufacturing facility at Balabhadrapuram, Andhra Pradesh.
• 2008: The company was converted from a private company to a public company and started manufacturing facility at Biccavolu, Andhra Pradesh.
• 2009: Commissioned 1,500 KW capacity wind power plant at village Kasthurirengapuram, Taluka Radhapuram, District Tirunelveli, Tamil Nadu.
• 2010: Expansion completed at manufacturing facility at Biccavolu, Andhra Pradesh for SSP, NPK, DCP and Sulphuric Acid.
• 2011: Commissioned manufacturing facility at Koppal, Karnataka for SSP, NPK, DCP and Sulphuric Acid.
• 2014: Sri Sai Swarupa Seeds became wholly owned subsidiary of company pursuant to acquisition.

Awards and Accreditations:

• 2009: Received IS1664:2002 certifications for manufacture of mineral mixture and IS 5470:2002 for manufacture of Di calcium phosphate animal feed grade from the Bureau of Indian Standards.
• 2012: Received ISO 9001: 2008 certification for the manufacture and supply of pesticides, fertilisers, sulphuric acid, API’s and animal nutrients.
• 2015: Received OHSAS 18001:2007 certificate of registration for operating as occupational health and safety management system for manufacturing and supply of pesticides, fertilizers, chemicals APIs and animal nutrients.
• 2015: Received EMS 14001:2015 certificate of registration for operating environment management system for manufacturing and supply of pesticides, fertilizers, chemicals API’s and animal nutrients.

 

26-Jun-2019

Standard Bank chooses Infosys Finacle Mobile Teller Solution to digitize banking services

Standard Bank has chosen Infosys Finacle Mobile Teller Solution to digitize its banking services across its branches in the African continent. Standard Bank is now live on the solution in 107 branches across five countries – Lesotho, Zimbabwe and Malawi, Zambia, eSwatini, all implemented in just 22 weeks. The solution is currently in Implementation for Ghana and Tanzania and will be further planned in a phased manner across Standard Bank’s Africa Regions countries. 

Infosys Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys.

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

 

26-Jun-2019

Hindalco Industries joins hand with Fortum

Fortum has signed its first commercial project with Hindalco Industries to reduce nitrogen oxides through combustion modification at a 150 MW power plant. The project will be implemented in one of the 150 MW boilers at the Aluminium Smelter Unit in Mahan, Singrauli district in Madhya Pradesh.

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

 

26-Jun-2019

Canara Bank invites bids from merchant bankers for Rs 1500 crore bonds issuance

Canara Bank has floated RFQ inviting the bids from Merchant Bankers/ Arrangers for the Bank’s proposed Basel III Compliant Additional Tier I Bonds issuance to mobilize Rs 1500 crore on June 26, 2019.

Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.

 

26-Jun-2019

GPCB issues closure notice for Excel Crop Care’s Bhavnagar plant

Gujarat Pollution Control Board (GPCB) has ordered Excel Crop Care to close its manufacturing operations for 15 days from June 21, 2019 at its Bhavnagar plant. The said order has been passed pursuant to inspection visit by GPCB Officials to a plot of land adjoining to Bhavnagar Plant.

Excel Crop Care actively promotes Integrated Pest Management (IPM) to Indian farmers. The company demonstrates the use of Integrated Crop Management (ICM) techniques to the farmers, using innovative methods.

 

26-Jun-2019

NHPC organizes conference on cyber security

NHPC has organized a conference on ‘Cyber Security for CERT Hydro Constituent Organization’ on June 24, 2019 at Faridabad. The conference had been organized with the aim of emphasizing the need of cyber security in hydro sector.

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

 

26-Jun-2019

NHDC signs MoU with NHPC for FY20

NHDC–a Joint Venture of NHPC and Government of Madhya Pradesh–has signed Memorandum of Understanding (MoU) for the financial year 2019-20 with NHPC. In the signed MoU for NHDC, Generation Target for FY 2019-20 under ‘Excellent’ rating has been set as 3000 MU against last year actual generation of 1921 MU. Excellent Target for Revenue from Operations is set as Rs 930 crore.

In addition to above, Operating Profit, Trade Receivables, PAT/Average Net Worth, Reduction in Claims against the Company, HRM related parameters, Technology up-gradation parameter and other Sector specific parameter have also been included.

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

 

26-Jun-2019

IFCI gets nod for corporate business plan

IFCI, after making a substantial NPA’s clean up and significant recoveries exercise in the year 2018-19, specifically in the ailing power sector has prepared a detailed corporate business plan and got approved by its Board of Directors at the meeting held on June 24, 2019, based on the prevailing economic, banking and finance conditions and status.

Apart from covering the areas of sanctions, disbursements, advisory and aggressive recoveries from NPAs, the plan also envisages sale of non-core assets & investments, including proposed sale of shareholding in National Stock Exchange of India and other divestments. The plan for divestments and monetisation is however, subject to statutory / regulatory clearances and other required approvals.

IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.

 

26-Jun-2019

TCS features as leader in Gartner’s 2019 Magic Quadrant

Tata Consultancy Services (TCS) has been recognized as a Leader in the June 2019 Gartner Magic Quadrant for Data Center Outsourcing and Hybrid Infrastructure Managed Services, North America. TCS received this position for the fourth year in a row.

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.

 

26-Jun-2019

Ducon Infiatechnologies enters into strategic tie up with Sterling & Wilson

Ducon Infiatechnologies has entered into strategic tie up with Sterling & Wilson, a flagship group company of Shapoorji Pallonji group, to jointly bid large size FGD tenders. The joint bidding exercise has significantly expanded the company’s financing capabilities to bid successfully for large FGD projects.

Moreover, Ducon brings technical qualification to this exercise of joint bidding for benefits of both parties.

Ducon Infratechnologies is a growing technology company providing solutions in the digital and infrastructure space to a variety of business segments across industries.

 

26-Jun-2019

Dr Lalchandani Labs ties up with Aastha Hospital & IVF Centre

Dr Lalchandani Labs has entered into an agreement for rendering diagnostic services at Aastha Hospital & IVF Centre at Outer Ring Road, New Delhi, to increase operational revenue. Aastha Hospital & IVF Centre is a 55 bedded hospital with its specialization in IVF, Gynaecology, Paediatrics and other speciality & super speciality services.

The company expects to generate a revenue of approximately Rs 60 lakh per annum by rendering diagnostic services to this prestigious client.

Dr Lalchandani Labs is formed to set up, engage, collaborate, acquire, purchase, maintain, open collection centres, conduct, manage, administer, own, run laboratories for the purposes of carrying out pathological investigations of various branches of Bio-Chemistry, Hematology, Histopathology, Microbiology, Electrophoresis, Virology, Cytology, other pathological Investigations and Immunoassay, Immuno-Histochemistry, Molecular Pathology, DNA & Genetic Testing etc.

 

26-Jun-2019

Artemis Electricals to invest in Artemis Opto Electronic Technologies

Artemis Electricals has received an approval for the Preferential Issue and allotment of up to 3,10,000 Equity Shares of Rs 10 each at a premium of Rs 155 per share (issue Price Rs 165) or such other price as determined as per SEBI Regulations, aggregating to Rs 5,11,50,000 on preferential basis to Deepa Travel (proposed allottee) being Promoter group for consideration in cash, subject to approval of shareholders and/or any other regulatory authorities. The Board of Directors of the company at their meeting held on June 25, 2019, approved the same.

The Board has also given approval for the acquisition / investment of 100% equity shares of Artemis Opto Electronic Technologies out of the proceeds received from Preferential Issue and the difference, if any, shall be met out of internal accruals or borrowings or from any other source as may deemed fit to the Board.

Artemis Electricals since incorporation is into the business of manufacturing and trading of Light Emitting Diode ‘LED’ Lights and LED lighting accessories.

 

26-Jun-2019

Godrej Properties planning to raise Rs 2100 crore via QIP issue

Godrej Properties is planning to raise up to Rs 2100 crore through a share sale to institutional investors. The board is scheduled to meet on June 28 to consider and approve the issue price for the qualified institutional placement (QIP).

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.

 

26-Jun-2019

Indian Overseas Bank to focus robust policy framework to reduce NPAs

Indian Overseas Bank is planning to focus on maintaining robust policy framework and establishing various business verticals to reduce non-performing assets (NPAs). The bank is also looking at conserving capital and reducing risk burden to protect interest income and meet the provision requirement.

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

 

26-Jun-2019

Signet Industries bags orders worth Rs 190 crore

Signet Industries has received orders worth Rs 190 crore recently from L&T, Tata Projects and GA Infra. These orders are for high pressure pipelines and uPVC pipelines to be used in various infrastructure projects in the States of Madhya Pradesh, and Rajasthan. Supplies for some orders have started and the company shall complete the orders well within contracted time period.

Signet Industries is engaged in manufacturing of plastic products and whole sale trade of chemicals & plastic materials.

 

26-Jun-2019

Dish TV unveils anthem to cheer Indian cricket team

Dish TV has unveiled a unique anthem ‘Sirf Fan Nahi, Dishkiyaon Fan’ for all the cricket fans to cheer for Team India. The anthem is a part of its ongoing contest ‘Dishkiyaon Cup’, wherein participants can predict match winners and win exciting prizes.

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

 

26-Jun-2019

Bharti Airtel prepays domestic loans to multiple banks: Report

Bharti Airtel has reportedly prepaid over Rs 22,000 crore of rupee-denominated domestic loans to multiple banks using a majority of the carrier’s Rs 25,000 crore rights issue proceeds.

The company has prepaid about Rs 6,000 crore to Axis Bank and cleared additional loans up to Rs 16,000 crore to other banks including State Bank of India (SBI), ICICI Bank and HDFC Bank. These loans were taken by the company to finance working capital needs.

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

 

26-Jun-2019

Tech Mahindra enters into strategic global alliance with K2View

Tech Mahindra has entered into strategic global alliance with K2View, Inc., a leading distributed data-as-a-service platform, to help organizations accelerate and bridge digital transformation by giving enterprises real-time access to their data, across silos, through a secure platform.

This integrated platform will help organizations accelerate their digital transformation, delivering a risk-free modernization path to efficient, scalable, and new data-driven architectures. This platform can be built into an organization’s existing infrastructure, with no downtime required to implement the technology.

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.

 

26-Jun-2019

Reliance Infrastructure bags Rs 7,000 crore Versova-Bandra sea link project

Reliance Infrastructure (RInfra) has bagged one of the largest EPC contracts from Maharashtra State Road Development Corporation (MSRDC), the prestigious Rs 7,000 crore Versova-Bandra Sea Link Project (VBSL) in Mumbai. The company is fully geared to deliver the project in 60 months from the Appointed Date of June 24, 2019 as per the contract.

VBSL is a marquee project with a length of 17.17 km, which is three times the length of the Bandra-Worli Sea Link of 5.6 km. VBSL would cut down commute time of Mumbaikars from over 90 minutes to 10 minutes. Mumbaikars can look forward to drastic savings in their fuel cost besides an eco-friendly travel with minimal carbon footprint

For the project, the company has already completed the works related to soil investigation, in partnership with Fugro, and engineering design, in partnership with Dar Al Handasah. MSRDC is expected to finalise the location of casting yard for the work to start on the project.

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.

 

26-Jun-2019

Adani Power to acquire GCEL

Adani Power will acquire GMR Chhattisgarh Energy (GCEL) as the consortium of lenders has approved its resolution plan. The consortium of lenders, led by Axis Bank, to GMR Chhattisgarh Energy, has issued a Letter of Intent dated June 24, 2019, approving Adani Power’s resolution plan to acquire controlling equity stake and restructure debt in GCEL.

Post the transaction, Adani Power shall hold 100% equity stake in GCEL. Of this, 52.38% stake is to be acquired from the lenders, and the balance 47.62% is to be acquired from the GMR Group.

Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.

 

26-Jun-2019

Tata Power mobilises tribal women in Jharkhand to promote commercial farming

Tata Power Company has mobilised over 1600 tribal women across 42 villages in Jojobera in the state of Jharkhand to promote commercial farming. Through this initiative, women generated an overall income of Rs 4.25 lakh by cultivating 3000 kgs Oyster mushrooms, a seasonal crop.

The company has strived to empower women by providing income generation opportunities in and around its operational areas under its ‘Sustainable Agriculture Programme’.

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.

 

26-Jun-2019

Tata Motors conducts fourth edition of TechFest & SkillFest programs

Tata Motors has conducted the Season-4 of Tata Motors Global TechFest and Global SkillFest 2019, an initiative to improve the skill and knowledge of commercial vehicles technicians and service advisors across the globe. The program saw over 7400 technicians and 3400 service advisors’ entries from 29 countries globally, including 801 channel partners from India and 500 from 28 countries globally i.e. Asean, LATAM, SAARC, LHD Africa, RHD Africa and Middle East.

Through this championship, Tata Motors aims to promote a mutual understanding between Tata Motors and the technicians and service advisors of their commercial vehicles channel partners. The theme of this year’s edition was to celebrate the technical & advisory skills of participants, allowing them to learn the latest in service technologies, at the same time understanding their training needs, ensuring the highest levels of service quality and delivery.

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.

 

26-Jun-2019

Havells India offers technologically advanced MCBs, RCCBs with enhanced features

Havells India has offered EURO-II range of technologically advanced MCBs and RCCBs with enhanced features and first time ever warranty of ‘Six Years’.

The range has been completely designed and developed at its R&D center in Noida as per global specifications. EURO-II series of MCBs & RCCBs come with nickel plated terminals to give a high resistance from corrosion and are made of flame-retardant material. It comes with all new features like improved bi-stable clip, line load reversibility coupled with dual certification for both, domestic and industrial applications. These MCBs & RCCBs are completely made of made of toxic-free material.

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.

 

26-Jun-2019

UPL acquires 7.32% stake in Allfresh Supply Management

UPL has acquired 7.32% shareholding in Fresh Supply Management. In addition, the company has also acquired optionally convertible debentures (OCDs) which can be converted into equity shares in future.

Earlier, the company had planned for equity investment of around Rs 1.99 crore, and investment of Rs 7.25 crore for subscribing to optionally convertible debentures (OCDs) in Allfresh Supply Management.

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

 

26-Jun-2019

LIC offloads 1.92 crore shares in Asian Paints

Life Insurance Corporation of India (LIC) has sold over 1.92 crore shares, representing about 2 per cent stake of Asian Paints, through the open market transaction. With the sale of these shares, the stake of LIC in Asian Paints has now come down to 3 per cent from 5 per cent earlier.

Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company’s business segments are Paints and Home Improvement.

 

26-Jun-2019

DHFL defaults on payment up to Rs 225 crore on commercial papers dues

Dewan Housing Finance Corporation (DHFL) has defaulted on 60% of Rs 375 crore commercial papers due for repayments on June 25, while the rest of the payment has been made.

Out of the aggregate amount of Rs 375 crore, Rs 150 crore i.e. 40% has been paid on a proportionate basis and the balance amount of Rs 225 crore shall be paid in the next couple of days.

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

 

26-Jun-2019

HDFC Mutual Fund hikes stake in TV Today Network by 2.14%

HDFC Mutual Fund has hiked its holding in TV Today Network by 2.14 per cent stake through the open market transaction. Post-transaction, HDFC Mutual Fund’s stake in the company now stands at 7.14 per cent.

TV Today Network (TVTN) operates news channels and is promoted by Living Media India (LMIL). The company has a tie-up with TheOneAlliance to distribute their channels. TVTN has also launched their channels in US, UK and Continental Europe.The channels operated by the company includes: Aaj Tak- Aaj Tak is a 24 hour Hindi news channel providing news of all around world.

 

26-Jun-2019

Axis Bank relocates Parimpora branch to Karan Nagar in Srinagar: Report

Axis Bank has reportedly relocated its branch which was at Srinagar Fruit Mandi Complex, Parimpora to a new location at Karan Nagar, Srinagar. The branch will continue to cater to all basic banking transactions and also specific needs of customers, offering the entire spectrum of banking products and financial services covering Retail, Institutional and Consumer lending.

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.

 

26-Jun-2019

Kuwait Food Company selects Ramco Systems’ HR & Global Payroll solution

Buoyed by the success witnessed in winning the trust of multinational organizations, Kuwait Food Company (Americana) K.S.C.C., one of the largest food companies in the Middle East has chosen Ramco Systems’ HR & Global Payroll solution to manage the HR operations. 

Ramco will be implementing its HR suite including modules to automate Core HR, Leave, Time & Attendance, Global Payroll, Talent Management and Performance Management. In addition to a unified HR platform, Americana will leverage Ramco’s Managed Payroll Services to effectively handle its multi-country, multicurrency operations, thereby strategically helping Americana in their growth and expansion plans. Phase 1 implementation in the UAE for 9000 employees is live now.

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

 

26-Jun-2019

Asian Granito launches new showroom in Gujarat

Asian Granito India has launched its largest display showroom unveiling the wide range of tiles and Sanitaryware at Himmatnagar in the state of Gujarat. The 25,000 square feet showroom will have the exclusive and elegant range of products including, ceramic floor, digital wall, vitrified, parking, porcelain, glazed vitrified, outdoor, natural marble, composite marble & Quartz, etc. under one roof. The showroom will also house the newly launched Sanitaryware range.

Asian Granito India is one of the top four Indian ceramic Companies engaged in the business of manufacturing, and trading of Ceramic Wall, Floor, Vitrified Tiles, Marble & Quartz Headquartered in Gujarat.

 

26-Jun-2019

Transpek Industry to resume operations at Ekalbara factory

Transpek Industry has received order of revocation of closure of its operations at its factory premises at Village Ekalbara from the Offices of the Factory Inspector and Gujarat Pollution Control Board respectively.

The Company would now be starting its operations gradually and production shall be ramped up to capacity in coming 7-10 days.

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

 

26-Jun-2019

Brickwork Ratings revises ratings of Reliance Capital’s debt program

The credit rating agency, Brickwork Ratings has revised ratings of Reliance Capital’s debt program. The agency has revised rating to ‘BBB’ (credit watch with negative implications) for long-term debt program, market linked debentures and subordinated debt and ‘A3’ for short-term debt program of Reliance Capital.

The Company respectfully protests and disagrees with the revision. There has not been any adverse change in the Company’s operational parameters and/or any other circumstances from the time of the last rating action, just 7 weeks ago and hence latest revision is completely unjustified.

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

 

26-Jun-2019

Persistent Systems’ arm to acquire entire stake in Youperience GmbH

Persistent Systems’ subsidiary — Persistent Systems Germany GmbH has entered into a Share Purchase Agreement to acquire 100% share capital of Youperience GmbH, a Salesforce Certified Gold Partner in Germany. The acquisition is subject to customary closing conditions which are expected to be completed within 2 weeks.

The proposed acquisition strengthens the company’s Salesforce practice in Europe and in the Salesforce Marketing Cloud domain.

Persistent Systems is a global company specializing in software product and technology services. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare and banking & financial services verticals.

 

26-Jun-2019

NTPC bags 40 MW solar projects in UPNEDA’s auction

NTPC has won entire 40 MW of Solar capacity bid by it at a levelised tariff of Rs 3.02/kWh applicable for 25 years. The company had participated in the Uttar Pradesh New and Renewable Energy Development Agency’s (UPNEDA) tender for 500 MW Solar capacity with two bids of 20 MW each at Auraiya and Rihand.

The reverse auction was carried out on June 25, 2019. The above projects shall be set up by the company under EPC mode and shall add to the installed capacity of NTPC.

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.

 

26-Jun-2019

CESC to raise Rs 350 crore through securities

CESC will seek shareholders’ approval to raise Rs 350 crore through various modes of securities next month. The annual general meeting (AGM) of the company will be held on July 19, 2019.

The company will also seek shareholders approval to get term loan of Rs 200 crore from Union Bank of India and Rs 300 crore each from State Bank of India and Bank of Baroda to part finance its capital expenditure. Under the special resolution, the company also sought shareholders’ nod to avail incremental working capital facility of Rs 150 crore from Bank of Baroda and Rs 30.65 crore from State Bank of India.

CESC is engaged in power generation and distribution in state of West Bengal. The company is a fully integrated power utility with its operation spanning the entire value chain right from mining coal, generating power and distribution of power.

 

 

26-Jun-2019

ICICI Bank eyeing to grow retail loan disbursement in Kerala by over 20% in FY20

ICICI Bank is eyeing to grow its retail loan disbursement in Kerala by over 20 percent to Rs 3,100 crore in FY20. The bank planned to achieve this growth by rapidly expanding disbursement of consumer loans and mortgage loans, the two main pillars of retail loans.

The disbursement of consumer loans, which comprises of personal and auto loans, is expected to grow by nearly 22 percent to Rs 2,200 crore while mortgages, including home loan, by close to 20 percent to nearly Rs 900 crore.

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.

 

 

26-Jun-2019

DCW planning to raise Rs 80 crore on preferential basis

DCW is planning to raise funds through issuance of equity shares/warrants on preferential basis to the Promoters, Promoter Group, Business Associates and Investors for an aggregate amount upto Rs 80 crore. The Board of Directors of the Company at its meeting to be held on June 28, 2019 to consider the same.

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

 

26-Jun-2019

Jump Networks launches rural organic farming initiative

Jump Networks has launched rural organic farming initiative. This initiative will give the farmers in Konkan region direct access to upmarket customers in India who will pay the right price for some incredible produce straight from the farms, using our proprietary blockchain technology layer.

The initiative, a sub-set of the ‘Chanda Te Banda’ scheme of the Government of Maharashtra, guarantees farmers with an offtake of all the qualified produce they generate at a fixed net profit per egg or litre of milk. This protects them from the vagaries of the farming & distribution process which is notorious for exploitation by middlemen.

Jump Networks operates in the media and entertainment sector in India. It engages in producing, distributing, broadcasting, marketing, and recording television programs; and informing and entertaining through the medium of television.

 

26-Jun-2019

Jubilant Life Sciences raises Rs 40 crore via CPs

Jubilant Life Sciences has raised funds through issuance of Commercial Papers (CPs) worth Rs 40 crore on June 25, 2019. The coupon / interest offered is 6.75% per annum. The tenure of the instrument is 36 days and maturity date is July 31, 2019.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in Pharmaceuticals, Life Science Ingredients and Drug Discovery Solutions.

 

25-Jun-2019

Profile: City Pulse Multiplex

The Company was incorporated as ‘City Pulse Multiplex Private Limited’ at Ahmedabad, Gujarat as a Private company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated March 22, 2000, issued by Registrar of Companies, Gujarat, Dadra & Nagar Haveli. Consequent upon the conversion of the Company to public limited company and as approved by the shareholders of the company pursuant to a special resolution dated May 19, 2018, the name of the Company was changed to ‘City Pulse Multiplex Limited’ and fresh certificate of incorporation dated May 28, 2018 was issued by the Registrar of Companies, Ahmedabad, Gujarat.

Business area of the Company:

The company is engaged in the business of operating and managing of miniplex/multiplexes. Its business portfolio is comprised of Film Exhibition, Film Production and Film Distribution. It was set up to carry out the business of setting up, operating and managing miniplex/multiplexes. The company operates a chain of cinemas spread across in the state of Gujarat under the brand name ‘WOW Cine Pulse’.

Major Events and milestones:

• 2000: Company incorporation.
• 2006: 1st Production of film ‘Love is Blind’, a Gujarati Film won award from Government of  Gujarat for best Gujarati film of the year.
• 2007: Opening miniplex/multiplex in Mehsana(double screen).
• 2011: Produced 2nd Film ‘Devi Pujak ni Dekri’.
• 2016: Opening miniplex/multiplex in Halol (single screen).
• 2017: Opening miniplex/multiplex in Chandkheda(four screen).
• 2018: Exclusive partnership in ticket booking with Paytm.
• 2019: Proposing to launch the new Project ‘World on Wheel’.

 

25-Jun-2019

SpiceJet to start eight new daily international flights from Mumbai, Delhi

SpiceJet will start eight new daily international flights from Mumbai and Delhi from July. The airline will service Mumbai-Riyadh-Mumbai, Mumbai-Dhaka-Mumbai, Delhi-Dhaka-Delhi and Delhi-Jeddah-Delhi routes with daily non-stop flights.

The flights on Mumbai-Dhaka-Mumbai route and Mumbai-Riyadh-Mumbai route will start from July 25 and August 15, respectively. On Delhi-Dhaka-Delhi route and Delhi-Jeddah-Delhi route, the daily flights will begin from July 31. The airline will deploy its 168-seater Boeing 737-800 aircraft on all aforesaid routes.

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

 

25-Jun-2019

SpiceJet starts daily direct flight on Durgapur-Mumbai route under UDAN

SpiceJet has flagged off a daily direct flight on the Durgapur-Mumbai route under the regional connectivity scheme UDAN. The under- served market of Durgapur is the airline’s 13th destination under UDAN.

The new flight reiterates the airlines commitment to augment connectivity between metro and non-metro cities. This route is awarded under UDAN-III and is exclusive to the airline, thereby making it the only carrier to offer flight services on the sector.

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

 

25-Jun-2019

Torrent Power gets nod from GERC for power procurement arrangement

Torrent Power has received an approval from Gujarat Electricity Regulatory Commission (GERC) for the power procurement arrangement of 278 MW between the company’s UNOSUGEN Power Plant (capacity of 382.5 MW) and its Licensed Distribution Business for cities of Ahmedabad, Gandhinagar and Surat. The approval, with certain stipulations, is for the balance life of the plant i.e. 19 years.

Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh.

 

25-Jun-2019

Infosys features as leader among API Strategy and Delivery Service Providers in 2019 Report

Infosys has been positioned as a Leader in The Forrester Wave: Global API Strategy and Delivery Service Providers, Q2 2019 report based on its scores in the evaluation. The report published by independent research firm Forrester Research Inc. recognizes Infosys with the highest score in the strategy category.

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

 

25-Jun-2019

Nestle India to launch Maggi Fusian Noodles range

In line with its vision to introduce products that cater to evolving consumer preferences, Nestle India will be launching MAGGI Fusian -a range of Asian flavor inspired noodles. This range reflects Maggi’s strong food and cuisine expertise.

Crafted using signature herbs and spices predominantly used in pan-Asian cuisines, Maggi Fusian will be launched in a range of three unique flavors- Bangkok Sweet Chili, Hong Kong Spicy Garlic and Singaporean Tangy Pepper.

Nestle India is a subsidiary of Nestle S.A. of Switzerland, a vibrant company that provides consumers in India with products of global standards.

 

25-Jun-2019

Panorama Studios International’s arm collaborates with PVR Pictures

Panorama Studios International’s subsidiary — Panorama Studios has collaborated with PVR Pictures, the motion picture arm of PVR, to distribute films pan India. At the onset the companies together will distribute Panorama Studios upcoming film slate starting with Batla House, followed by Section 375 and Khuda Hafiz, all slated for FY 2019-20 release.

Panorama Studios International (formerly known as Apunka Invest Commercial) is engaged in investment in shares and securities as its principal business.

 

25-Jun-2019

Bajaj Finance aims to increase consumer durable lending business via ‘EMINetworkPowerplay’ campaign

Bajaj Finance, the lending arm of Bajaj Finserv, is aiming to reach out to over 10 million customers and increase its consumer durable lending business multifold through its ‘EMINetworkPowerplay’ campaign. Customers get to Play, Shop on the Bajaj Finserv EMI Network and win exciting prizes. The EMINetworkPowerplay campaign will be on till July 16, 2019.

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.

 

25-Jun-2019

PVR’s arm joins hand with Panorama Studios

PVR Pictures, the motion picture arm of PVR has joined hand with Panorama Studios, a subsidiary of Panorama Studios International (formerly known as Apunka Invest Commercial) to distribute films pan India. 

 At the onset the companies together will distribute Panorama Studios upcoming film slate starting with Batla House, followed by Section 375 and Khuda Hafiz, all slated for FY 2019-20 release.

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.

 

25-Jun-2019

TCS’ Jile makes debut in Gartner 2019 Magic Quadrant for enterprise agile planning tools

Tata Consultancy Services’ (TCS) new Agile DevOps platform on the cloud–Jile has made its debut in the Gartner Magic Quadrant for Enterprise Agile Planning Tools, April 2019. TCS was one of seven new vendors added to the Magic Quadrant this year that evaluated 17 vendors.

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.

 

25-Jun-2019

Gujarat Borosil sets up additional furnace of 210 TPD for production of solar glass

Gujarat Borosil has set up new additional furnace of 210 TPD for production of solar glass at its existing plant in Bharuch District of Gujarat. The company has started trial production on June 24, 2019.

Gujarat Borosil is engaged in the manufacture of finest quality sheet glass in the country. The company in due course plans to enter into the manufacture of Float Glass, reflective glass and other end products with commitment to provide best value for money to their esteemed customers. 

 

25-Jun-2019

Dr. Reddy’s Lab launches Tobramycin Inhalation Solution in US market

Dr. Reddy’s Laboratories has launched Tobramycin Inhalation Solution, USP a therapeutic equivalent generic version of TOBI (tobramycin) Inhalation Solution, approved by the US Food and Drug Administration (USFDA).

According to IQVIA Health, the TOBI (tobramycin) Inhalation Solution brand and generic had U.S. sales of approximately $97 million MAT for the most recent twelve months ending in April 2019. The company’s Tobramycin Inhalation Solution, USP is available in a 300 mg/5 ml, single-dose Ampule.

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.

 

25-Jun-2019

Spencers Retail seeks shareholders’ approval to raise Rs 350 crore

Spencers Retail has sought shareholders’ approval to raise Rs 350 crore, by using movable or immovable properties of the firm as collateral. Keeping in view the company’s existing and future fund requirements to support its business operations, the company proposes to borrow funds from financial institutions, banks, NBFCs and other lenders for an amount up to Rs 350 crore.

The company has also sought shareholders’ approval to invest Rs 250 crore for further expansion and investment through a special resolution.

Spencers Retail is a multi-format food-first retailer providing a wide range of quality products to discerning young customers – well-travelled citizens of the world, looking out for authentic flavors and experiences in a fun-filled shopping environment.

 

25-Jun-2019

Apollo Hospitals signs MoU with Woman Doctors Wing of IMA

Apollo Hospitals Enterprise has signed a Memorandum of Understanding (MoU) with the Woman Doctors Wing of the Indian Medical Association (IMA) to drive organ donation across the country.

Under the terms of the MoU, Apollo Hospitals would work with the IMA Woman Doctors Wing to promote organ donation among the public and spread the message of the importance of organ donation in saving lives using various platforms.

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

 

25-Jun-2019

Torrent Pharmaceuticals redeems NCDs worth Rs 83 crore

Torrent Pharmaceuticals has redeemed the Secured Redeemable Non-Convertible Debentures (NCDs) of Rs 83 crore. The company has repaid the same on June 24, 2019.

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.

 

25-Jun-2019

Power Grid, NTPC to incorporate JV Company

Power Grid Corporation of India has entered into a Joint Venture Agreement with NTPC to incorporate a Joint Venture Company (JVC) on 50:50 equity participation basis, with an objective to undertake the business for distribution of electricity in various States and Union Territories of India and other related activities.

The said JVC shall be incorporated only after obtaining necessary approvals of the Government.

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.

 

25-Jun-2019

Power Grid signs MoU with EMC

Power Grid Corporation of India has signed a Memorandum of Understanding (MoU) with Energy Management Centre (EMC), Kerala to have long term association in the areas of Energy Efficiency and Sustainable Energy. Power Grid becomes the first ever CPSE to sign MoU with EMC, Kerala in the area of Energy Management. 

Power Grid will dedicate its expertise to support the initiatives in the areas of Energy Efficiency in Power Distribution, Energy Efficiency in Process Industries, Demand Side Management Programmes, Sustainable Energy & any other area of mutual interest through its highly qualified technical manpower pool in rational mechanisms towards overall improvement of the Power scenario in Kerala through this MoU.

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.

 

25-Jun-2019

IndusInd Bank inaugurates new branch in UP

IndusInd Bank has inaugurated a branch at Jewer, a town located in the Gautam Buddha Nagar district of Uttar Pradesh (UP). The new branch is located within close proximity to the proposed International Airport and will house an ATM that will be available 24X7. With this, the bank now has a wide network of 122 branches across UP.

IndusInd Bank is as one of the fastest-growing banks in the banking sector in India.

 

25-Jun-2019

Emami Group promoters divest 10% stake in Emami for Rs 1,230 crore

The promoters of Emami Group have undertaken a stake sale 10% in Emami for raising approximately Rs 1,230 crore. This amount is intended to be used primarily for further reducing debt at the promoter level. The stake sale occurred on the floor of the stock exchange to marquee institutional investors.

The total promoter stake in Emami subsequent to the stake sale, stands at a controlling majority of 52.74%. The promoters intend to maintain this controlling majority stake in Emami without further diluting it.

Emami is the flagship company of the Emami Group and engaged in manufacturing products under various categories namely Hair Care, Skin Creams and Lotions, Talcum Powder and ayurvedic health care products.

 

25-Jun-2019

Alembic Pharmaceuticals gets USFDA approval for Oseltamivir Phosphate Capsules

Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Oseltamivir Phosphate Capsules USP, 30 mg (base), 45 mg (base) and 75 mg (base).

The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Tamiflu Capsules, 30 mg (base), 45 mg (base) and 75 mg (base), of Hoffman-La Roche, Inc. Oseltamivir Phosphate Capsules USP are indicated for the treatment of acute, uncomplicated illness due to influenza A and B infection in patients 2 weeks of age and older who have been symptomatic for no more than 48 hours. It is also indicated for the prophylaxis of influenza A and B in patients 1 year and older.

According to IQVIA, Oseltamivir Phosphate Capsules has an estimated market size of $ 647 million for twelve months ending December 2018. Alembic now has a total of 97 ANDA approvals (85 final approvals and 12 tentative approvals) from USFDA.

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

 

25-Jun-2019

Visaka Industries to set up new manufacturing facility for Vnext products in Tamil Nadu

Visaka Industries is planning to set up a new manufacturing facility for Vnext range of plywood and gypsum plaster boards at an unfinalised location in Tamil Nadu at an outlay of Rs 100 crore. Currently, its Vnext plants are operational in Telangana, Maharashtra, and Haryana.

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

 

25-Jun-2019

Piramal Enterprises planning to sell entire 20% stake in Shriram Capital

Piramal Enterprises is planning to sell its entire 20 per cent stake in Shriram Capital. The move would be part of the long-term strategy of the company to fund growth of its financial services business.

Earlier this month, the company had sold its entire 10 per cent stake in Shriram Transport Finance for Rs 2,300 crore.

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

 

25-Jun-2019

Bharti Airtel offers free hello tunes to postpaid, prepaid mobile customers

Bharti Airtel is offering FREE Hello Tunes to its postpaid and prepaid mobile customers through Wynk Music app, as part of the growing range of exciting benefits under its refreshed ‘Airtel Thanks’ program. All 40 million songs from Wynk Music’s library will now be available to eligible Airtel mobile customers as ‘Hello Tunes’ without the monthly subscription charge of Rs 36. This exclusive benefit will be available to all mobile customers on prepaid bundles or postpaid plans of Rs 129 and above.

To get their FREE Hello Tunes customers simply need to download the latest version of Wynk Music app (available for both iOS and Android) and click on the Hello Tunes icon to set their favourite songs as their ring back tone. Customers can set and change their ‘Hello Tunes’ as many times as they want. One only needs to renew the FREE ‘Hello Tunes’ subscription through Wynk Music every 30 days.

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

 

25-Jun-2019

Tech Mahindra introduces AI Human Resource Humanoid ‘K2’

Tech Mahindra has introduced K2, the first Human Resource (HR) Humanoid for its Noida Special Economic Zone Campus in Uttar Pradesh. K2 will take over the routine HR transactions to provide constant assistance to the HR team in creating an enhanced employee experience. Tech Mahindra’s first HR humanoid was introduced in its Hyderabad campus, earlier this month.

K2 leverages state of the art Artificial Intelligence technology and initiates conversation without any need for wake-up commands. Keeping in mind the needs of the specially abled, K2 can respond to queries with text display along with Speech.

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.

 

25-Jun-2019

Reliance Industries raises about Rs 12,900 crore in long-term loan

Reliance Industries has signed pacts with overseas lenders to avail long-term loans of about Rs 12,900 crore to finance its capital expenditure. The fundraising comes amid reports of company planning to infuse as much as Rs 20,000 crore into its telecom unit — Reliance Jio Infocomm (Jio), to bolster broadband and e-commerce play ahead of a potential entry into 5G mobile telephony services in future.

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.

 

 

25-Jun-2019

Tata Steel setting up steel scrap recycling plant in Haryana: Report

Tata Steel is reportedly setting up India’s first steel scrap recycling plant, which will be based in Rohtak, Haryana. The move will give the company an early lead among peers as scrap generation increases in the Indian economy, which is also the fastest growing steel market in the world.

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.

 

25-Jun-2019

HDFC Bank features as highest-ranked Indian brand in BrandZ’s Top 100 Global Brands List

HDFC Bank is highest-ranked Indian brand to be featured in the ‘BrandZ Top 100 Most Valuable Global Brands’ released by WPP group company Millward Brown. In the latest list, the Bank’s brand value has increased to $22.70 billion from $20.87 billion as of last year.

The Bank has now featured five times consecutively in the Top 100 global brands list. The Bank has retained its 60th rank over the last two years. Life Insurance Corporation (68th) and Tata Consultancy Services (97th) are the only other Indian companies on the list this year.

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.

 

25-Jun-2019

Subex to join GLF’s Communications Blockchain Network

Subex will be a part of the ITW Global Leaders’ Forum’s (GLF’s) Communications Blockchain Network (CBN), a blockchain-based consortium which aims to revolutionize the ICT Service Provider industry’s commercial settlement infrastructure. 

Through its mission to accelerate the adoption of automated settlement applications, CBN represents an opportunity worth billions to the global industry in terms of costs savings and revenues from new products and services. The CBN, which is expected to go live in the coming months, will be governed by a collaborative structure. Besides technology providers like Subex, the platform will see support from 11 leading global carriers to ensure this blockchain-based, special purpose mechanism can become a reality.

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

 

25-Jun-2019

Sunteck Realty raises Rs 35 crore via CP

Sunteck Realty has raised Rs 35 crore through issuance of Commercial Paper (CP). The tenure of the instrument is 120 days and date of maturity is October 22, 2019. The coupon offered is 9.00% per annum (p.a.). The credit rating agency, CARE Ratings has assigned ‘A1+’ rating to the instrument.

Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.

 

25-Jun-2019

Nucleus Software launches latest version of FinnOne Neo

Nucleus Software Exports has launched the latest version of its award winning lending solution – FinnOne Neo 4.0. The new version comes with a wide range of features that will help lenders capitalize quickly on rapidly evolving market trends and changing customer requirements and, above all, to turn the digital opportunities into profits.

FinnOne Neo combines three decades of experience working with some of the world’s most innovative lenders with the latest technology, and the result is a unique solution to accelerate lenders’ path to digital profits. Nucleus FinnOne Neo 4.0 comes with enhanced digital capabilities, which will help lenders completely transform their processes across the entire loan lifecycle.

Nucleus Software Exports is a leading provider of software solutions to the Banking, Financial Services Industry (BFSI). It has developed solutions spanning from retail banking to corporate banking, cash management, internet banking and credit cards.

 

25-Jun-2019

Coal India supplies 491.54 MT coal to power plants in Tamil Nadu in FY19

Coal India has supplied 491.54 million tonnes (MT) coal to power plants in Tamil Nadu in 2018-19, which was 8.2 per cent more than the coal supplied in 2017-18. In 2018-19, the company’s coal supply to power plants of Tangedco in Tamil Nadu rose 3.5 per cent to 23.26 MT, compared to 22.49 MT in 2017-18.

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

 

25-Jun-2019

Andhra Bank to raise Rs 2,000 crore equity capital in FY20

Andhra Bank has received approval to raise the equity capital amounting to Rs 2,000 crore (including premium) by way of Qualified Institutional Placement (QIP) / Follow-on Public Offer (FPO) / Sale of non-core assets / Preferential Allotment / any other approved means during FY 2019-20. The Board of Directors of the Bank at its meeting held on June 24, 2019 has approved the same.

Andhra Bank offers a wide range of services such as Retail banking, Agriculture, MSME, Corporate, NRI services and Personal banking services etc.

 

25-Jun-2019

Alankit spearheads large-scale Student ID card project

Alankit has taken up a project with an objective to print and distribute over 70 lakh QR based ID Cards to students (Directorate of School Education- Government of Tamil Nadu). The company has been widely recognised as one of the largest national distributors for Card Printers & Accessories.

The concept of ‘Digital Identity’ has already gained momentum in the country, signaling a substantial development across industries. Not-to-mention, there is a considerable demand for QR based ID Cards in India.

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

 

25-Jun-2019

Mahindra Lifespace Developers’ JV opens digital literacy centre in Laliya-Ka-Bas village

Mahindra World City Jaipur, a joint venture between Mahindra Lifespace Developers (MLDL) and Rajasthan State Industrial Development and Investment Corporation (RIICO), has inaugurated a Digital Literacy Centre in nearby Laliya-Ka-Bas village, as part of its CSR efforts to support inclusive development via widespread digital literacy.

Laliya-Ka-Bas is home to about 600 inhabitants and is the third village identified by Mahindra World City Jaipur for implementation of its community digital literacy program.

Mahindra Lifespace Developers is the real estate and infrastructure development business of the $19 billion Mahindra Group, and a pioneer of sustainable urbanization in India.

 

25-Jun-2019

BNP Paribas Cardif to offload 2.5% stake in SBI Life Insurance

SBI Life Insurance’s foreign partner — BNP Paribas Cardif will sell up to 2.5 crore shares, representing 2.5 per cent stake in the company, for at least Rs 1,625 crore through offer for sale (OFS) mechanism. For two-day OFS, the floor price has been fixed at Rs 650 per share.

BNP Paribas held 7.7 crore shares, representing 7.7 per cent stake in the company as on March 31.

SBI Life Insurance Company is a joint venture between the State Bank of India and the French financial services heavyweight BNP Paribas Cardiff.

 

25-Jun-2019

LIC offloads 2% stake in Axis Bank

Life Insurance Corporation of India (LIC) has sold over 5.25 crore shares, representing about 2 per cent stake, of Axis Bank through open market transaction. With the sale of these shares, stake of LIC in the bank has now come down to 10.2 per cent from 12.21 per cent earlier.

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.

 

25-Jun-2019

IFCI to sell its 2.44% stake in NSE

IFCI has received approval to sell its remaining stake of 1,20,66,871 equity shares comprising of 2.44% of the total equity shares of NSE. The Board of Directors of the Company at its meeting held on June 24, 2019 has approved the same.

IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.

 

25-Jun-2019

TCS increasing holding in TCS Japan

Tata Consultancy Services (TCS) is increasing its holding in TCS Japan, its joint venture with Mitsubishi Corporation (MC), one of Japan’s largest integrated business enterprises. Following the stake hike, TCS will hold 66% equity in TCS Japan – up from 51%, when the joint venture was established in July 2014 – and MC will hold 34%.

The increased equity is the latest in a series of investments that TCS has made in recent years to cater to the specific needs of Japanese corporations. To augment the local workforce and gain scale, a Japan-centric Delivery Center (JDC), with enhanced language support and heavy localization of global business practices, was set up in 2015 within TCS Sahyadri Park in Pune, India.

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.

 

25-Jun-2019

SAIL to supply 13.5 LT of rails to Indian Railways in FY20

Steel Authority of India (SAIL) has decided to supply 13.5 lakh tonne (LT) of rails to Indian Railways in the current financial year. The company has been supplying fewer rails against the order placed by the Railways for the last four financial years. In 2018-19, the company has supplied 9.68 LT rails as against the demand of 14 LT.

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

 

25-Jun-2019

L&T to sell 0.19% stake in L&T Technology Services

Larsen & Toubro (L&T) will sale up to 2 lakh equity shares representing 0.19% of the total paid up equity share capital of L&T Technology Services of face value of Rs 2 each on June 25, 2019 (for non-Retail Investors only) and on June 26, 2019 (for Retail Investors and for Non-Retail Investors who choose to carry forward their un-allotted bids) through stock exchange mechanism.

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

 

25-Jun-2019

Quess Corp planning to raise Rs 51 crore capital through preferential allotment

Quess Corp is planning to raise capital up to Rs 51 crore through issuance of equity shares on a preferential allotment basis. The Board of Directors of the Company at its meeting to be held on June 27, 2019 to consider 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.

 

25-Jun-2019

Quess Corp’s arm bags work order from Amazon Seller Services

Quess Corp’s wholly owned subsidiary — DigiCare has received approval from its board for execution of an amendment agreement to, and a work order under, the master services agreement dated November 1, 2018 executed between DigiCare and Amazon Seller Services.

Pursuant to which parties have agreed to extend the scope of the master services agreement, in relation to provision services, such as installation, repair, maintenance and troubleshooting, by DigiCare to customers of Amazon Seller Services, and related matters.

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.

 

24-Jun-2019

Profile: IndiaMart InterMesh

IndiaMart InterMesh was incorporated in New Delhi as ‘IndiaMart InterMesh Limited’ on September 13, 1999, as a public limited company under the Companies Act, 1956, with a certificate of incorporation granted by the Registrar of Companies, National Capital Territory of Delhi and Haryana (RoC).

Business area of the company:

The company is India’s largest online B2B marketplace for business products and services. Its online marketplace provides a platform for mostly business buyers, to discover products and services and contact the suppliers of such business products and services. It provides a robust two-way discovery marketplace connecting buyers and suppliers.

Major Events and milestones:

• 1999: Incorporation of Company.
• 2003: Launched TrustSeal for documentary verification of customers.
• 2007: Received investment from Bennett, Coleman and Company Limited and Times Internet Limited.
• 2008: Received investment from Intel.
• 2015: Achieved 100,000 premium customers milestone.
• 2016: Received investment from Amadeus, Westbridge, AFIM and Intel.
• 2017: Received further investment from Amadeus, Westbridge and AFIM.
• 2017: Launched payment protection programmed PayX for the purpose of safe and secure payment gateway.

Awards and Accreditations:

• 2008: Received the ‘Red Herring 100 Asia 2008’ award in the ‘software’ category.
• 2010: Recognized as one of ‘India’s 25 Most Promising Internet Companies’ by The SmartTechie.
• 2013: Received the ‘Manthan’ award, South Asia and Asia Pacific in the e-business and financial inclusion category.
• 2016: Received the ‘Drivers of Digital Summit & Awards 2016’ for ‘best online classified website’ category.
• 2016: Received the ‘Super SME Awards, 2016’ for ‘Special Contribution Award’ at World Association of Small and Medium Enterprises (WASME).
• 2017: Received the ‘Drivers of Digital Summit & Awards, 2017’ for ‘best online classified website’ category.
• 2017: Received the ‘Global Mobile App Summit Awards, 2017’ for ‘best application in business’ category.
• 2018: Received the ‘Drivers of Digital Summit & Awards, 2018’ for ‘best online classified website’ category.
• 2018: Received the ‘Drivers of Digital Summit & Awards, 2018’ for ‘best online classified application’ category.
• 2019: Received the ‘India Law Awards, 2019’ for ‘Technology, Media and Telecommunication In-House Legal Team’ category.
• 2019: Received the ‘Video Media Awards and Summit, 2019’ for ‘video content in a business website- special mention’ category.

 

24-Jun-2019

Star Cement gets nod to buyback 1.62% stake for Rs 102 crore

Star Cement has received approval to buyback upto 68 lakh fully paid-up equity share of Re 1 each of the Company (representing 1.62% of the total equity capital) from all the Equity shareholders of the Company, at a price of Rs 150 per share payable in cash for an aggregate consideration not exceeding Rs 102 crore. The Board of Directors of the Company at its meeting held on June 21, 2019 has approved the same.

Star Cement is engaged in cement manufacturing in north east India. The company’s product range includes clinker and cement.

 

24-Jun-2019

Dr. Reddy’s Lab launches Phytonadione Injectable Emulsion in US

Dr. Reddy’s Laboratories has launched Phytonadione Injectable Emulsion USP, 10 mg/ml Single-Dose Ampules, a therapeutic equivalent generic version of Vitamin K1 (Phytonadione) Injectable Emulsion USP, 10 mg/ml, approved by the US Food and Drug Administration (USFDA).

The Vitamin K1 (Phytonadione) for Injectable Emulsion USP, 10 mg/ml brand and generic had combined US sales of approximately $46.6 million MAT for the most recent twelve months ending in April 2019 according to IQVIA Health.

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

 

24-Jun-2019

United Van Der Horst planning to raise funds via preferential issue

United Van Der Horst is planning to raise funds by issuance of equity shares through preferential issue and price determination. The Board of Directors of the Company at its meeting to be held on June 29, 2019 to consider the same.

United Van Der Horst is involved in the area of Marine, Oilfield & Industrial Equipment and Components restandardsizing. The company offers ‘Porous Krom’ planting technology and other specialized reconditioning service to the core sectors in India.

 

24-Jun-2019

IndiGo, EkPrana Foundation introduce ‘Seat is the New Mat’ campaign

InterGlobe Aviation (IndiGo) in collaboration with EkPrana Foundation, have introduced a new campaign – ‘Seat is the New Mat’ – on occasion of International Yoga Day 2019. The campaign has been launched to promote holistic wellness through a yoga regime that the passengers can follow on their seat without disturbing their co-fliers.

The campaign features six asanas that every passenger can perform easily while being seated in an aircraft seat. This will effectively help passengers avoid muscle stiffness and fatigue from sitting for long periods of time when travelling.

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

 

24-Jun-2019

Glenmark Pharma’s arm signs partnership agreement with Novartis Biosciences

Glenmark Pharmaceuticals’ Brazilian subsidiary — Glenmark Farmaceutica has entered into an exclusive partnership agreement with Novartis Biosciences S.A, a subsidiary of Novartis AG, for three respiratory products indicated towards treatment of the symptoms of chronic obstructive pulmonary disease (COPD) in Brazil. This agreement will be effective from July 01, 2019 onwards.

The products involved in the agreement are Seebri (Glycopyrronium bromide), Onbrize (Indacaterol) and Ultibro (combination of Indacaterol and Glycopyrronium), which are indicated for relief of symptoms in adults with COPD.

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).

 

24-Jun-2019

Vodafone Idea loses 15.82 lakh subscribers in April

Vodafone Idea has lost 15.82 lakh customers in April 2019. Following this, the company’s total customer base has decreased to 39.32 crore with 33.83% market share in term of Wireless Subscribers as on April 30, 2019.

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

 

 

24-Jun-2019

Forwardis signs logistics digital transformation program with Ramco Systems

Forwardis has signed a major ERP Transformation program with Ramco Systems for implementation of Ramco’s Logistics Suite across all the entities of Forwardis Group. This win marks Ramco’s entry into the European Logistics industry. In line with Forwardis’ vision to become the gateway offering the best sustainable and green logistics, the company has embarked on IT modernization program with Ramco. 

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

 

24-Jun-2019

Infosys enters into strategic partnership with TMHE

Infosys has entered into a long term strategic partnership with Toyota Material Handling Europe (TMHE). As IT services partner, the company will help TMHE in its digital transformation journey by facilitating transformation to a scalable digital hybrid cloud platform, providing application services, digital workplace, infrastructure management and a dedicated data center operation. The company will help drive innovation and optimization agenda backed by Next Generation AI and automation solutions and deliver a future ready landscape for TMHE.

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

 

24-Jun-2019

Reliance Industries’ telecom arm adds 80.82 lakh subscribers in April

Reliance Industries’ (RIL) telecom arm — Reliance Jio Infocomm (Jio) has added 80,82,383 lakh customers in April 2019. Following this, the company’s total customer base has increased to 31.48 crore with market share of 27.08%.

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.

 

24-Jun-2019

MTNL loses 4,170 subscribers in April

Mahanagar Telephone Nigam (MTNL) has lost 4,170 customers in April 2019. Following this, the company’s total customer base has decreased to 34.49 lakh with market share of 0.30% as on April 30, 2019.

MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India’s key metros — Delhi and Mumbai.

 

24-Jun-2019

SRG housing receives Rs 15 crore term loan from oriental bank Commerce

SRG Housing Finance has received financial assistance in the form of Term Loan from Oriental Bank of Commerce of Rs 15 crore and the company has accepted the same.

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

 

24-Jun-2019

Trent seeks shareholder’s nod to raise funds from Tata Sons

Trent is seeking shareholder’s approval to allot up to 2.46 crore equity shares to Tata Sons. The company plans to raise funds through preferential allotment of shares to promoter Tata Sons to finance expansion and reduce debt.

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

 

24-Jun-2019

Tower Research Capital Markets buys 14.59 lakh shares in RInfra

Tower Research Capital Markets India has bought 14.59 lakh shares in Reliance Infrastructure (RInfra) at Rs 57.18 per share on the BSE on June 21, 2019. However, Tower Research Capital Markets has also offloaded 14.59 lakh shares in the company at Rs 57.27 per share on same day.

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.

 

24-Jun-2019

Sonata Software’s arm completes merger of subsidiaries with itself

Sonata Software’s wholly owned subsidiary — Sonata Software North America has completed merger of its subsidiaries namely Rezopia Inc., Halosys Technologies Inc., Interactive Business Information System Inc., with itself. The merger is for the operational convenience in the US.

Sonata Software is a global IT services firm focused on catalysing transformational IT Initiatives of its clients through deep domain knowledge, technology expertise and customer commitment.

 

24-Jun-2019

Sobha recognized as top Realty Brand for 5th time in row

Sobha has been recognized as the Top National Realty Brand across Asset class in India by BrandXReport 2018-19, an annual study conducted by Track2Realty. This is the 5th consecutive year when company has been conferred with the National Brand Leadership of Indian real estate, making it one-of-its-kind achievement for any company in the sector. Based on a rigorous selection process, which includes Indian and NRI consumer votes, company’s leadership position is stable.

Sobha is one of the fastest growing and foremost backward integrated real estate players in the country. It primarily focuses on residential and contractual projects.

 

24-Jun-2019

Power Grid inks pact with NTPC to set up National Electricity Distribution Company

Power Grid Corporation of India has entered into an agreement with NTPC to set up the National Electricity Distribution Company (NEDCL). NEDCL will be a joint venture of the two on 50:50 equity basis. The main aim of this JV is to undertake business for distribution of electricity in distribution circles of India and related activities.

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.

 

24-Jun-2019

Intellect Design Arena to implement Quantum Central Banking Solution for Bank of Mongolia

Intellect Design Arena will implement its award-winning Quantum Central Banking Solution for the Bank of Mongolia, the Central Bank of Mongolia. The solution is well poised to accelerate the Bank of Mongolia’s digital transformation initiatives under the Payment System Modernization project funded by Asian Development Bank (ADB).

Intellect’s Central Banking Solution is the world’s most comprehensive & robust solution which comprises integrated functional modules such as Enterprise General Ledger, Banking Services, Government Services, Monetary Policies, Credits and Collateral Management, Currency life cycle management, Trade Finance, Banking Services Portal, Bullion Management, Treasury, Reserve Management, Budget Management, and Procurement Management.

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

 

24-Jun-2019

India Ratings downgrades Reliance Infrastructure’s long-term issuer rating

Ratings agency India Ratings has downgraded Reliance Infrastructure’s (RInfra) long-term issuer rating to ‘D – Issuer Not Cooperating’. The downgrade comes after the company’s auditors raised red flags over its financial results as well as significant doubt over the group’s ability to continue as a going concern.

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.

 

24-Jun-2019

Omkar Speciality to foray into CRAMS business

Omkar Speciality Chemicals has decided to foray into Contract Research and Manufacturing Services (CRAMS) business in order to move up the value chain in the growing pharma industry with the help of its strong operational efficiencies backed by robust R&D focused initiatives and multiproduct delivery capabilities.

The key growth drivers for company in the CRAMS segment are strong order pipeline which will culminate into high margin commercial manufacturing opportunities, growing client base that will help our company to sustainably build a diversified product portfolio and operational efficiencies driven by strong R&D focused initiatives and multi-product delivery capability.

Omkar Speciality Chemicals is one of the leading players in the manufacturing of Speciality Chemicals and Veterinary APIs. The company manufactures a range of Organic, Inorganic and Organo Inorganic Intermediates.

 

24-Jun-2019

Glaxosmithkline Pharmaceuticals optimising product portfolio, focusing on key brands

GlaxoSmithKline Pharmaceuticals is optimising its product portfolio with focus on key brands to accelerate growth in India. The company is also looking to launch some new products in the country over the next 15 months as it adopts a more structured approach to engage trade channel partners, with a dedicated team to engage stockists and retailers across India.

GlaxoSmithKline Pharmaceuticals (GSK Rx India) is one of the oldest pharmaceuticals company. The GSK India product portfolio includes prescription medicines and vaccines.

 

24-Jun-2019

Glenmark Pharma receives complete response letter from USFDA for Ryaltris

Glenmark Pharmaceuticals has been issued with Complete Response Letter (CRL) regarding the New Drug Application for Ryaltris (olopatadine hydrochloride [665 mcg] and mometasone furoate [25 mcg]), Nasal Spray from US Food and Drug Administration (USFDA). The CRL cites deficiencies in the Drug Master File (DMF) pertaining to one of the active pharmaceutical ingredients (APIs) and in the manufacturing facilities.

The CRL does not specify any deficiencies with the clinical data supporting the New Drug Application for Ryaltris. The company is confident that it should be able to resolve these issues within the next 6 to 9 months. Glenmark Pharmaceuticals will continue to pursue regulatory approval for Ryaltris and work closely with the USFDA to determine the appropriate next steps.

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).

 

24-Jun-2019

Alembic Pharmaceuticals gets USFDA approval for Bromfenac Ophthalmic Solution

Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bromfenac Ophthalmic Solution 0.09%. The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Bromday Ophthalmic Solution, 0.09%, of Bausch & Lomb Incorporated (Bausch & Lomb). Bromfenac Ophthalmic Solution 0.09% is indicated for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract surgery.

According to IQVIA, Bromfenac Ophthalmic Solution 0.09% has an estimated market size of US$ 6 million for twelve months ending December 2018. Alembic now has a total of 96 ANDA approvals (84 final approvals and 12 tentative approvals) from USFDA.

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

 

24-Jun-2019

Bharti Airtel loses 32.89 lakh subscribers in April

Bharti Airtel has lost 32,89,534 subscribers in April 2019. Following this, the company’s total customer base stood at 32.18 crore with market share of 27.69% in term of Wireless Subscribers as on April 30, 2019.

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

 

24-Jun-2019

Narayani Steels transacts more than 5000 MT of materials in last few days

Narayani Steels has transacted (it includes purchase and sales) more than 5000 metric tons (MT) of materials (it includes Tmt, Rebar, billet, bloom and others) in last few days (June 14-20). During this period, the company purchased 2,964 MT materials and sold 2,589 MT materials.

Narayani Steels is engaged in trading and manufacturing of hot rolled long products of value added steel. The company primarily trade in blooms, billets, TMT bars, pellets, etc and also manufacture TMT bars and other long products such as rounds, flats, angles, channels, etc.

 

24-Jun-2019

Maruti Suzuki’s eight models become best-selling PVs in SIAM’s top 10 list in May

Maruti Suzuki India’s eight models have become the best-selling passenger vehicles (PVs) in the Society of Indian Automobile Manufacturers’ (SIAM) top 10 list in May. As per SIAM report, the company’s popular hatchback Swift was the best-selling model last month clocking 17,039 units, up from the fourth spot in the same month last year when it sold 19,208 units.

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

 

24-Jun-2019

Facor Alloys enters into OTS with Bank of India

Facor Alloys has entered into one time settlement (OTS) with Bank of India, Visakhapatnam for settling its total outstanding dues of Rs 27.05 crore as on March 31, 2019, towards devolvement of the Standby Letter of Credit (SBLC) issued as a collateral security in favour of Bank of India, Jersey for borrowings of $10 million made by Facor Minerals (Netherlands) B.V., Netherlands, a step down first level subsidiary.

Facor Alloys engages in ferro alloys business. The company produces high carbon ferro chrome. The group’s principal activity is the manufacture and selling of ferro chrome and their products are used as one of the raw materials in the production of stainless steel. 

 

 

24-Jun-2019

NTPC signs MoU with Power Grid to set up NEDCL

NTPC has signed a memorandum of understanding (MoU) with Power Grid Corporation of India to set up the National Electricity Distribution Company (NEDCL). NEDCL will be a joint venture (JV) of the two on 50:50 equity basis. The main aim of this JV is to undertake business for distribution of electricity in distribution circles of India and related activities.

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.

 

24-Jun-2019

HAL delivers 150th gun bay door for Boeing F/A-18 Super Hornet in Bengaluru

Hindustan Aeronautics (HAL) has delivered 150th gun bay door for the Boeing F/A-18 Super Hornet manufactured at its facility in Bengaluru. The aerospace major had awarded HAL the contract in 2007. The Boeing F/A-18 Super Hornet is a twin-engine supersonic all-weather, carrier-capable multirole combat jet delivering cutting-edge, next-generation multi-role strike fighter capability.

HAL is Bengaluru based Defence Public Sector Undertakings (DPSU) Company engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures.

 

24-Jun-2019

Zuari Global planning to raise funds via NCDs

Zuari Global is planning to raise funds through issue of Rupee Denominated, Secured, Listed, Rated, Non-Convertible Debenture (NCDs) on private placement basis. The Board of Directors of the Company at its meeting to be held on June 26, 2019 to consider the same.

Zuari Global, erstwhile Zuari Industries, has been the principal promoter entity for the Zuari Group of Companies, with forays into fertilizer, seeds, engineering, lifestyle industries and services.

 

24-Jun-2019

Gujarat Gas signs MoU with EESL

Energy Efficiency Services (EESL) and Gujarat Gas, have entered into a memorandum of understanding (MoU) on June 24, 2019. EESL’s MoU with Gujarat Gas will unlock Gujarat’s potential for trigeneration, a highly Environment-Friendly technology.

Gujarat Gas (formerly Gujarat Gas Company) is engaged in processing, transmission, and distribution of natural gas. It supplies gas to industrial, commercial and domestic customers.

 

24-Jun-2019

Future Enterprises planning to raise up to Rs 900 crore through NCDs

Future Enterprises is planning to raise up to Rs 900 crore through issuance of non-convertible debentures (NCDs) on private placement basis. The company is planning to raise funds to replace few of its high cost current or near term maturity debts as well as to meet further funds requirements.

Future Enterprises is leading retailer that operates multiple retail formats in both value and lifestyle segment of Indian consumer market.

 

24-Jun-2019

Eros International Media’s Eros Now leads all major OTT Platforms in new market research

Counterpoint Technology Market Research’s new market research showed that Eros International Plc’s over-the-top (OTT) South Asian entertainment platform — Eros Now has the largest share (59%) of users in the 25-39 age bracket in Tier II/III cities, the highest among all major OTT platforms. Eros International Plc is a parent company of Eros International Media.

According to the research, Eros Now users had the highest engagement levels compared to other OTT platforms, with 68% of Eros Now users indicating that they watch content on the platform daily. In addition, the survey points out that 9% of Eros Now users watch content on the platform for more than 21 hours per week.

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

 

24-Jun-2019

Hindujas to pump another Rs 2,700 crore into IndusInd Bank through warrants

The Hindujas will pump another Rs 2,700 crore into IndusInd Bank through a warrant issue to ramp up the promoter holding after the merger of Bharat Financial. The merger between the bank and the Bharat Financial, which will be effective July 4, is accretive from a profit, margin and return on equity perspective.

Merger of Bharat Financial into IndusInd Bank was announced in October 2017, as part of which a shareholder would get 639 shares of IndusInd Bank for every 1,000 shares of the Bharat Financial.

IndusInd Bank is as one of the fastest-growing banks in the banking sector in India.

 

24-Jun-2019

Network 18 to sell stake HSN Cyprus

Network18 Media & Investments has entered into a term sheet to sell its shareholding in NW18 HSN Holdings Plc. (HSN Cyprus). Pursuant to this, HSN Cyprus would cease to be an associate of the Company.

Further, Network18 has sold 13,20,481 shares in Television Home Shopping Network (formerly known as TV18 Home Shopping Network).

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

 

24-Jun-2019

Tata Communications bags seven awards at Frost & Sullivan’s 2019 India ICT Awards

Tata Communications has received top honors at Frost & Sullivan’s 2019 India ICT Awards, with four awards in the Enterprise Telecom Services category, one award in the Emerging Services category and two awards in the Enterprise Infrastructure category. The majority of awards won by the company this year are service provider awards, making them a coveted service provider for customers.

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

 

24-Jun-2019

Radiant Life Care completes acquisition of 49.7% stake in Max India’s JV

Radiant Life Care, a leading Indian hospital management company promoted by Abhay Soi and backed by KKR, has completed the acquisition of 49.7% stake in Max Healthcare Institute, a joint venture between Max India and Life Healthcare, from South Africa-based hospital operator Life Healthcare. Abhay Soi will now lead Max Healthcare as Chairman of its Board and Executive Council.

As part of the transaction, Max India’s promoters have received an advance of Rs 361 crore from KKR in exchange for a 4.99% stake in the merged entity. Max India’s promoters have used the funds for deleveraging purposes.

Max India is engaged in the business of investments and providing consultancy services to group companies. The company’s segments are Healthcare Business, Business Investments, Health Insurance, Senior Living and Others.

 

24-Jun-2019

NTPC’s JV inks two agreements with PNB for Rs 650 crore

NTPC’s joint venture (JV) firm — NSPCL has inked two agreements with Punjab National Bank (PNB) for Rs 650 crore for financing two projects. The agreements are for part financing of two of its under construction projects at Durgapur (2X20 MW) for Rs 100 crore and Rourkela (1X250) for Rs 550 crore.

NSPCL is a joint venture of NTPC and Steel Authority of India (SAIL) that has its power plants at Durgapur, Rourkela and Bhilai.

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.

 

24-Jun-2019

ITC’s snacks brand releases ‘Come on India, Dikhado!’ song

ITC’s snacks brand — Bingo has released ‘Come on India, Dikhado!’ song, using the iconic cheer from the classic cricket anthem from the late 90’s. ‘Come on India!’ cheer, which resonated with the sporting spirit of each Indian of that era, has been used in the latest anthem by Bingo! to pack a punch of excitement among the modern day millennia. This song has gone on air on digital platforms from June 14, 2019.

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.

 

24-Jun-2019

USFDA completes inspection at Neuland Laboratories’ Hyderabad facility

The United States Food and Drug Administration (USFDA) has completed inspection Neuland Laboratories’ Unit 1 manufacturing facility at Bonthapally, Hyderabad. The inspection was conducted from June 17 to 21, 2019.

The inspection has been completed with five observations given under form 483. The company has already initiated corrective and preventive actions for the observations and is confident of satisfying the FDA within the stipulated time.

Neuland Laboratories manufactures active pharmaceutical ingredients for global pharmaceutical companies and provides end-to-end solutions for the pharmaceutical industry for chemistry-related services.

 

24-Jun-2019

USFDA completes audit at Dr. Reddy’s Laboratories’ Vizag Plants

US Food and Drug Administration (USFDA) has completed audit at Dr. Reddy’s Laboratories’ Formulations Manufacturing Plants (Vizag SEZ Plant 1 and Vizag SEZ Plant 2) at Duvvada in Visakhapatnam. The audit was completed on June 21, 2019. The company has been issued a Form 483 with 2 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.

 

24-Jun-2019

INOX Wind commissions common power evacuation facilities in Gujarat

INOX Wind has commissioned the common power evacuation facilities at Dayapar site in District Bhuj in the State of Gujarat. The common power evacuation systems for the wind park comprise of a 220 KV Sub-station, a 220 KV Double Circuit Transmission line and associated infrastructure.

This common infrastructure is capable of supporting power evacuation of over 600 MW. This will enable commissioning of projects won under various SECI auctions with state of the art 2 MW & 3.3 MW wind turbines.

INOX Wind offers its clients total wind power solutions including wind resource assessment, acquiring land, developing the entire site infrastructure, building the power evacuation system, supplying the WTGs, erection and commissioning services, long term operations and maintenance services as well as post-commissioning support.

 

24-Jun-2019

JMC Projects secures new orders worth Rs 514 crore

JMC Projects (India) has secured new orders worth Rs 514 crore. The order is for the Residential and Commercial projects in South and West India totalling Rs 295 crore, factory works from a multinational client in East India of Rs 112 crore and Institutional Building order of Rs 107 crore in East India.

JMC Projects, a subsidiary of Kalpataru Power Transmission, is India’s one of the leading contracting company. The company is mainly engaged in the construction of industrial and residential buildings and also power and infrastructure development projects.

 

24-Jun-2019

BHEL bags Rs 840 crore Emission Control equipment order

Bharat Heavy Electricals (BHEL) has won an order for emission control equipment from Nabinagar Power Generating Company (NPGCL) – a subsidiary of NTPC. Valued at about Rs 840 crore, the order involves supply and installation of Flue Gas Desulphurization (FGD) system for control of SOx emissions at the 3×660 MW Nabinagar project of NPGCL in Aurangabad district of Bihar.

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.

 

24-Jun-2019

TCS to open centre in Bihar

Tata Consultancy Services (TCS) is all set to start a major centre in Patna in the state of Bihar. The move will attract other IT companies to set up their centers in the Bihar.

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.

 

24-Jun-2019

SBI planning to expand its market in Singapore SME businesses

State Bank of India (SBI) is planning to expand its market in Singapore by enhancing its relationship across small and medium enterprises (SMEs) some of which have strong footholds across Asia Pacific.

The bank has six branches and offering ATM services under ATM5 network across the island state and two remittance centres, especially serving the large pool of Indian workers at dormitories in the industrial sectors. The bank also plans to offer its YONO app, an omnichannel service at the fingertip, to manage a wide range of financial services.

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.

 

24-Jun-2019

MBL Infrastructures receives completion certificate for project in Madhya Pradesh

MBL Infrastructures has received completion certificate for project of Construction of 96 flats (Basement + Ground + 12 storey), Bhopal in the state of Madhya Pradesh for M P Hosing & Infrastructure Development Board.

MBL Infrastructures is engaged in the construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients.

 

24-Jun-2019

L&T wins power project order in Bihar

Larsen & Toubro’s (L&T) Power business has bagged a mega engineering, procurement and construction (EPC) order from SJVN Thermal to set up a 2×660 MW ultra-supercritical power plant in Buxar district in the state of Bihar.

The scope of work for L&T includes Design, Engineering, Manufacture, Procurement, Supply, Construction, Erection, Testing a Commissioning of Buxar Thermal Power Project (2×660 MW), on turnkey basis, covering steam generator, steam turbine generator, electrostatic precipitator, NOx control system, flue gas desulphurization (FGD) system and complete balance of plant (BoP) systems including raw water intake system, make-up water system, coal & ash handling system, ash dyke, complete E&I system including switchyard and complete civil, structural and architectural works.

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

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Jamnadas Virji Advisory