Bajaj Electricals, which makes household and kitchen appliances, said it has agreed to buy non-stick cookware maker Nirlep for Rs 42.50 cr. The cookware maker had annual turnover of Rs 47 cr as of last financial year, the company said. “The proposed acquisition will provide a portfolio of products which complements with the offerings of […]
The Andhra Pradesh government seems to be sparing no effort at creating a grand new capital in Amaravati to replace Hyderabad, which it lost to Telangana upon bifurcation. Construction major Larsen & Toubro said the state government has given a Rs 1,387 cr contract to build what it called an ‘iconic’ bridge across river Krishna. […]
Videocon Industries, one of the biggest local-grown consumer durables companies in India, confirmed that it had been placed under bankruptcy by the National Company Law Tribunal, in a petition by SBI. With this, the company’s board of directors have lost their power to control the affairs of the company, and its power has been transferred […]
Within weeks of starting the first ever long-term LNG supply from the US, India opened up yet another source of natural gas with the arrival of the first LNG shipment from Russia. Russia is currently, world’s largest crude oil & second largest gas producer in the world. While, lndia is world’s 3rd largest energy consumer […]
SpiceJet has introduced ten new flights between South Indian cities of Mangalore, Kozhikode, Bangalore, Chennai, Hyderabad and Rajahmundry. Three new flights have been introduced from Chennai — to Kozhikode, Hyderabad and Mangalore, while Hyderabad will see two new flights — to Chennai and Rajahmundry. Kozhikode will see two new flights, to Bangalore and Chennai. It […]
Two MLAs of the Congress Party in Karnataka, Pratap Gowda Patil and Anand Singh have missed the roll-call for taking oath have been tracked to Goldfinch hotel in Bangalore. A team of police has been dispatched to the hotel to ‘rescue’ the MLAs who are reportedly ‘being held captive’. UPDATE: ALSO SEE https://ultra.news/t-t/39991/karnataka-trust-vote-bjp-may-give-up-without-a-fight Both have […]
BSP Supremo Mayawati today ‘advised’ the Congress party to learn its lessons from the situation in Karnataka and not try to use any and every trick in the book to deride its opponents, especially if they are in the ‘secular’ camp. Mayawati was referring to the fact that the BJP won many seats in Muslim […]
Dwarikesh Sugar Industries reported a sharp decline in its performance for the quarter ended March, blaming a “rapid & unexpected fall” in sugar prices. Against net profit of Rs 46 cr for the same quarter last year, the company reported net loss of Rs 9.2 cr for the March quarter this year. Operating profit (EBITDA) […]
Bangalore-based real estate player Sobha Ltd said it will enter the Gujarat market with a Rs 500-cr residential project in GIFT City in Ahmedabad. The project will have about 1,000 apartments that to support the ‘walk to work’ concept underlying the smart city, the company said. Ajay Pandey, MD and Group CEO of GIFT City […]
Punj Lloyd, Rave Gears (USA) and Adani Group said they will set up a joint venture to manufacture helicopter parts. The collaboration will use the manufacturing base in India for exports to global OEMs, both in the military and civil aerospace domain, Adani Defence & Aerospace said. The JV will design, manufacture and assemble high […]
Mahindra Defence, part of the Mahindra Group, has been selected as the local partner for Japanese aircraft maker ShinMaywa’s manufacturing and related operations for its US-2 seaplane in India. The amphibious aircraft can be used for both civilian and military purposes and the Indian Navy is expected to be among the customers for the same […]
AU Small Finance Bank, which was formed a little over two years ago, said it has started offering interest of 6.5% for its savings account holders with balance above Rs 1 lakh. This makes the bank the only one to offer such a high interest rate on its savings account. The bank was earlier giving […]
Japan’s Suzuki Motor Corp said it has started exporting vehicles from its recently established 100% Indian unit Suzuki Motor Gujarat Pvt Ltd. The first model to be shipped was the new Swift, destined for the South African market, the company said. “This is the first time an SMG model is being exported,” the company said. […]
The core sector growth in India’s Index of Industrial Production was at 5.3% for February 2018, the government said today. In January, the growth was 6.1%. The highest growth was seen in refinery output (7.8%) and cement (22.9%), while crude oil and natural gas production went down. With this, the overall growth for the IIP […]
Construction major Larsen & Tourbro said it has won a Rs 1,3960-cr contract from the West Bengal government to build a six-lane bridge across river Hooghly on the northern border of Calcutta. The bridge will built at Kalyani, which forms the northern most boundary of Kolkata metropolitan area. It will supplement the existing Iswar Gupta bridge, […]
Around 82.5% of the landowners at the site of the upcoming Jaitapur Nuclear Power Plant in Maharashtra have agreed to receive compensation under the project, the ministry of atomic energy said today. Out of 2,236 people whose land needs to be acquired for the mega project, 1,844 have accepted the compensation and 1,820 have received […]
The central government has abandoned its plans to set up a national skills university as well as a draft bill that was prepared for this purpose, the ministry of development and entrepreneurship said. Development of vocation skills, such as carpentry, electrician and catering and so on, was one of the key areas of emphasis for […]
Radio Mirchi, the FM radio brand from the Times of India group, will soon launch in the Middle Eastern kingdom of Bahrain. Entertainment Network (India) Limited or ENIL, the entity that is in charge of the group’s radio operations, said it has signed an agreement to license its brand and content to Dubai-based Adline Media […]
Suzlon Energy, one of the pioneers of wind power in India, said it has finished commissioning its entire solar order book of 340 megawatt, and will focus on hybrid solar-wind projects going forward. Out of the 340 MW erected, 210 MW was erected in Telangana, 60 MW in Rajasthan and 70 MW in Maharashtra. The […]
Aviation minister Jayant Sinha said India’s largest airline Indigo and competitor Go Air can use their grounded planes if they are able to secure ‘alternative engines’ to be used in place of the faulty ones. “We do not consider these engines safe,” Sinha said in the context of the aviation sector regulator’s directive to ground […]
