Havells India, one of the country’s largest electrical equipment makers, said it expects organized players such as itself to benefit as raw material price increases put pressure on unorganized players. The company, a prominent player in the switchgear, wire and lighting segments in India, also said that demand for electrical goods in India is on […]
Ramkrishna Forgings, which recently diversified beyond the automobile market to tide over the uncertainties associated with the sector, has won yet another contract from Indian Railways. The company said it won a contract o supply loco shells, the shell or body of locomotive engines or train engines. The value of the contract was not disclosed. […]
India-based Lincoln Pharmaceuticals Ltd said it is looking forward to entering the Australian market, after Australia’s medicines and medical devices regulator – Therapeutic Goods Administration {TGA) – approved the company’s primary manufacturing plant in Khatraj, Gujarat. The approval, said the medicine manufacturer, has been granted for all three sections, tablets, capsules and creams & ointments. […]
Reliance Industries, India’s most valuable company, has established a subsidiary in the United Arab Emirates. The company said it invested $1 mn to float Reliance International Ltd based in Abu Dhabi Global Market, UAE. The company will engage in trading of crude oil, petroleum products, petrochemicals and agricultural commodities, among others, said the Mukesh Ambani-led […]
Air conditioning company Blue Star said it began construction work on its Rs 550 cr manufacturing plant in Sri City in Chittoor district of Andhra Pradesh. The plant will likely be included in the production-linked incentive scheme of government of India, under which companies are eligible to get around 5% of their sales as incentives […]
Specialty chemicals maker Anupam Rasayan said it has signed a preliminary, Rs 145 cr supply agreement with an existing European customer “which is one of the top ten multinational company across the globe”. The company did not name the client or the molecule to be supplied, but said the specialty chemical is related to life […]
Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]
Gravita India Limited, a fast-growing Indian company in the area of recycling, said it has almost quadrupled the capacity of its lead recycling plant at Chittoor in Andhra Pradesh. With this, the company expects to increase its revenue by around Rs 150 cr per year. At the current run rate, that works out to around […]
Dixon Technologies, arguably the most successful Indian electronics manufacturer of all times, said it has decided to float a 40:60 joint venture with its customer and Japanese electronic components maker Rexxam to target both Indian and international markets. The two companies have inked a memorandum of understanding and will begin the work of thrashing out […]
Tata Steel Mining Limited said it signed an agreement with Jindal Stainless to jointly mine the chrome ore lying beneath the boundary between the companies’ mines in Sukinda in Odisha’s Jajpur district. Chromium is used to make shiny metallic items, such as stainless steel vessels and chrome-plated auto parts. The companies said the chromite — […]
Telecom equipment and services provider HFCL Ltd said it plans to offer 5G equipment and turnkey services, marking a move up from its roots as a telecom contractor. The company, which has in recent years successfully diversified into manufacturing — particularly of fiber optic cables and terminal devices — said its new 5G network services […]
Bharat Dynamics Ltd, the prime production agency under India’s Integrated Guided Missile Development Programme (IGMDP), said it received top-up orders worth Rs 499 cr for the supply of Akash missiles to the Indian Army. Bharat Dynamics Ltd had got a mega contract worth for Rs 14,000 cr for Aakash missiles in March 2018. In September […]
Mumbai-based up-and-coming IT hardware manufacturer Panache Digilife said it intends to manufacture laptops and all-in-one PCs to target the consumer market, under the government of India’s production-linked incentive scheme. The company had qualified for receiving benefits under the PLI scheme last week, along with 13 others including Foxconn, Wistron, Dell, ICT, Dixon Technologies and Lava […]
Sharda Motor Industries, a New Delhi-based manufacturer of auto parts such as suspensions and catalytic converters, and the Kinetic group of Pune have become two of the rare Indian firms to dare to enter the cut-throat world of lithium-ion battery manufacturing. The supply of Li-ion batteries is currently almost completely controlled by Chinese companies, which […]
Branded apparel maker Arvind Fashions, which sells clothes under brands such as Arrow, Tommy Hilfiger, US Polo and Flying Machine in India, is trying a new strategy as far as its online business is concerned, said Director Kulin Lalbhai. While traditionally, garment vendors have looked at e-commerce as a way to get rid of their […]
Baba Kalyani, chairman and managing director of India’s largest forging and metal components manufacturer Bharat Forge, today expressed the opinion that the current economic setback on account of the second wave of COVID-19 is of a temporary nature. “The lock down in India to curtail the spread of Covid has clearly had an impact on […]
Jindal Stainless, India’s largest producer of stainless steel and part of the OP Jindal group, reported a strong recovery in its operating and financial performance during the fourth and final quarter of the financial year. For the three months ended March, the company’s sales volumes jumped 15% compared to the same period of last year […]
Blue Star, one of India’s largest refrigeration and air conditioning companies, said it is moderating the pace of execution of large contracts to keep it in sync with clients’ ability to pay, and also said the second wave of the COVID-19 pandemic has posed a challenge to the growth trend seen in recent months. Chief […]
JSW Steel USA Ohio Inc, a US subsidiary of JSW Steel, has signed a long-term agreement with local steel producer Allegheny Technologies Inc. to convert JSW’s locally produced carbon steel slabs into hot rolled coils. The agreement will help diversify JSW’s steel offerings in the US, while also generating revenue for Allegheny Technologies and improving […]
The closure of Vedanta Ltd’s Tuticorin copper smelter in May 2018 has turned India into a net importer of refined copper, according to newly released government data. While India was a net exporter of refined copper to the extent of 3.34 lakh tonnes in the year ended March 2018 (prior to the shut down); the […]
