Greenlam, the country’s leader in laminates, said it decided to enter the category of plywood and particle boards by setting up new factories in Tamil Nadu and Andhra Pradesh. Plywood and particle boards are used alongside laminates — the multi-colored and shiny boards — in aluminium-based constructions in offices and commercial buildings. “Witnessing a spiral […]
Trident, a prominent manufacturer of bedsheets, bathrobes, comforters (razai) and paper products in India, is offering a discount of 40% to all its shareholders on all items purchased from its website. To qualify for the 40% discount, the customers/shareholders have to add items worth Rs 5,000 to their cart, upon which they’ll get a discount […]
Asian Paints, India’s largest paint company and one of the largest listed manufacturing companies in the country, today issued a detailed and point-by-point rebuttal of proxy advisory firm InGovern. InGovern had, in a report brought out two weeks ago, alleged that Asian Paints was sourcing a considerable part of its raw material requirement from companies […]
Morepen Laboratories said it expects its US export business to get a major boost now that the US FDA has given it the go-ahead to export allergy drug Allegra to that market. Fexofinadine, invented by Sanofi Aventis, is the most widely used, second generation antihistamine drug for the treatment of allergy symptoms and hay fever, […]
ITC Ltd, one of India’s largest consumer products makers with a pan-India presence and dozens of major brands under its belt, has invested Rs 20 cr to get a 16% stake in a Kolkata-based company that makes baby and mother care products. The deal values ‘Mother Sparsh’ at Rs 125 cr after investment, or Rs […]
Government of India-controlled Bharat Electronics Ltd, a manufacturer of defence electronics, said it received its largest ever export order in the form of a Make in India offset-contract from European aircraft manufacturer Airbus Defence & Space. In September this year, Indian Air Force had signed a Rs 20,000 cr contract with Airbus Defence and Space […]
Kitex Garments has incorporated a new company in Telangana, Andhra Pradesh, with an initial capital of Rs 100 cr, in keeping with the company’s earlier announcement of shifting some of its expansion to the new South Indian state. The Kerala-based company had created controversy in its home state several months ago due to political statements […]
Dixon Technologies, one of the rare success stories of India in electronics manufacturing, said it has started making fully automatic washing machines. The appliances are being made for BSH Household Appliances Private Ltd, the local unit of the global giant that owns brands such as Bosch. Manufacturing has been started at Dixon’s Tirupati factory. Before […]
The 102-year-old Birla Corporation, one of the oldest companies in India and one of its largest cement and jute producers, said the sharp rise seen in commodity prices in recent months and an extended monsoon hurt its margins during the Jul-Sep period. The company’s operating profit or EBITDA — a measure of profit that excludes […]
Polycab India Limited, one of the best performing mid-sized companies in India and a maker of electrical goods, said it has decided to sell its copper rod manufacturing business to metal refiner Hindalco Industries, part of the Aditya Birla group of companies. Polycab said it decided to take this step as Hindalco would be better […]
Parag Milk Foods Ltd, India’s largest dairy-focused consumer goods brand, said sales of some of its key products has reached pre-pandemic levels, but sales of liquid milk are half their regular volume. The company, which was hit by the COVID-19 pandemic both because of logistical disruptions as well as a dip in consumer demand, reported […]
Exide Industries, one of India’s oldest automotive battery companies, reported a strong increase in revenue for the September quarter, but an equally significant jump in the cost of key raw materials prevented any benefit of the higher sales from flowing to the company’s bottom line. The company’s operating revenue jumped Rs 4,758 cr from Rs […]
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 […]
