Larsen and Toubro (L&T) said it received a new order from the Oil and Gas Corporation (ONGC) worth between Rs 1,000 crore and Rs 2,500 crore for the development of a marginal field associated with the Mumbai High oil field. Cluster-8 of Mumbai High is located about 210 km to the west of Mumbai city. […]
Ahmedabad-based construction firm Nila Infrastructures Ltd said it received two contracts worth Rs 65.5 crore from Ahmedabad Urban Development Authority (AUDA) for the construction of affordable housing units in Bopal in Ahmedabad. The project includes the construction of 616 flats for economically weaker sections along with basic common amenities, infrastructure & development works of the […]
Infrastructure major Larsen and Toubro (L&T) reported new construction orders from Telangana, Jharkhand, New Delhi and the Gulf, worth between Rs 2,500 cr and 5,000 cr in all. The company secured a campus development order of IIT Hyderabad Package,which includes the construction of buildings such as a Sports and Cultural Complex, Research Centre Complex, Knowledge […]
Air travelers in India will soon be able to enjoy Internet like they do on the ground, after Tatanet Services, a wholly owned subsidiary of NELCO Limited, won an in-flight, maritime connectivity licence from Department of Telecommunications. “The IFMC license will make it possible to have uninterrupted access to voice, data and video services while […]
Paytm, India’s largest digital wallet player, is reportedly planning to set up 1,000 ATMs across the country under a branding tie-up with Tata Communications Payment Solutions Ltd. Although Tata Communications did not confirm the news, the network connectivity provider said it has a “co-branding alliance” with a “leading payments bank recognized as India’s largest digital […]
India’s largest car maker Maruti Suzuki India Ltd launched WagonR S (Smart)-CNG, with 26% more mileage than the existing model. The CNG powered WagonR, with its 1-litre engine, will offer a mileage of 33.54km/kg, the company said. With CNG priced at Rs 44.70 per kg, that works out to a fuel cost of only just […]
NBCC, formerly known as the National Buildings Construction Corporation Limited, said it won new orders amounting to Rs 804 crore in the month of February. The Central Government Navaratna enterprise under the Ministry of Urban Development had secured a total business of Rs 355 crores last month and Rs 743 crore in November. Earlier last […]
Aditya Birla Group firm Grasim Industries Limited on Wednesday said it agreed to buy fabrics manufacturer Soktas India Private Ltd for an enterprise value of Rs 165 crores. The equity valuation of the acquired company was not disclosed, nor did Grasim reveal how much it would pay as part of the transaction. The Kolhapur-based company, […]
Suneel M Advani, Managing Director and Chairman of Blue Star and the son of its founder Mohan Advani, has stepped down and will be replaced by Shailesh Haribhakti. Haribhakti will assume charges from April 1, becoming the first professional, independent chairman in the history of the air conditioning company. Suneel Advani who took over the […]
Real estate developer Lodha Group announced what it called ‘India’s largest mall’, spread over 20 acres in Palava, a smart city being developed near Dombivili, Maharashtra. The developer said the mall would be a ‘game changer’, not just for Mumbai, for the entire region, and will address hitherto unmet needs of Mumbaikars. “The development, comprising […]
Days after it imposed a monetary penalty of Rs 7 crore on four PSU banks, the Reserve Bank of India has slapped a fine of Rs 1 crore on ICICI Bank for delays in the implementations of the new controls relating to the SWIFT system of international payments. The SWIFT (Society for Worldwide Interbank Financial […]
Pharmaceutical major Lupin and partner Natco Pharma received approval from the US Food and Drug Administration (FDA) to sell a generic equivalent of Novartis Pharmaceuticals’ Gleevec cancer tablets in the US market. Imatinib Mesylate Tablets, in 100 and 200 mg doses, have annual sales of around $655 million in the United States, Lupin said, making […]
Tata Motors’ newly launched SUV, Tata Harrier, sold around 1,600 units in the very first month since its launch on January 23. The company had sold 420 units of the SUV in the first ten days. Harrier, the company’s latest attempt to crack the SUV market after models like Safari, Hexa and Aria, is also […]
Infrastructure major Larsen and Toubro (L&T) on Tuesday bagged contracts for its water and effluent treatment business from in Tamil Nadu, Jharkhand and Odisha. The total value of the contracts is between Rs 5,000 to 7,000 cr. The engineering and construction company secured two orders from the Government of Tamil Nadu for the execution of […]
Gateway Distriparks Ltd, Mumbai-based logistics company, distanced itself from bankrupt lender Infrastructure Leasing and Financial Services Limited (IL&FS) and IL&FS Financial Services Ltd (IFIN). Responding to media reports, the company said there are no transactions between itself or its subsidiaries with IL&FS or IL&FS Financial Services. However, it said there is a transaction between Prism, […]
A day after it imposed monetary penalty of Rs 7 crore on four PSU banks, the Reserve Bank on Monday slapped a fine of Rs 4 crore on Mangaluru-headquartered Karnataka Bank for delays in the implementation of new controls relating to the SWIFT system of international payments. The private sector lender was one of the […]
Home textile manufacturer Himatsingka Seide said it has signed a multi-year deal with US-based Iconix Brand Group to manufacture Royal Velvet heritage luxury brand of bedding and sheets etc in the US market. “We look forward to partnering with Iconix Brand Group and leveraging our integrated expertise to enhance the presence of the Royal Velvet […]
Glenmark Pharmaceuticals, a pharmaceutical company headquartered in Mumbai, reported progress in a proof-of-concept study of GBR 830, being studied as a treatment for atopic dermatitis, commonly known as eczema. The company said it was able to notice a decline in atopic dermatitis score during the study involving 62 patients, which also showed that the drug […]
Former Finance Secretary Dr. Hasmukh Adhia, credited with the effective implementation of demonetization two years ago, was on Friday appointed as the Non-Executive chairman of the Bank of Baroda for a period of three years. “The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for the appointment […]
Cochin Shipyard Limited (CSL), which operates the largest ship-building and maintenance facility in India, on Friday signed contracts for the construction and delivery of four 8,000-ton mini bulk carriers with a subsidiary of the JSW Group, one of India’s largest business conglomerates. The vessels will be built at the CSL yard in Kochi and will […]
