Visaka Industries announced that its new fibre cement board factory at Jhanswa village near Jhajjar, Haryana with an annual capacity of 50,000 tonnes has started commercial production from Monday. Visaka Industries is one of the biggest producers of cement-fiber sheets, used in a variety of applications, including false-ceilings, roofing, partitioning and interior work. Its ‘V […]
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 […]
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 […]
Voltas, India’s largest air-conditioner maker, said it will invest Rs 500 cr to set up a AC and appliance manufacturing complex in Tirupati. The plant will initially manufacture and assemble air conditioners and related cooling products, starting from the second half of next year. It will have a total capacity of more than 1 million […]
Inox Wind said it has received a contract from Adani Green Energy to build a 501.6 MW wind power project in Kutch District in Gujarat. The financial details of the contract were not revealed. Adani Green Energy, a subsidiary of the Ahmedabad-based Adani Group, won the projects under the Solar Energy Corporation of India (SECI) […]
United Spirits Limited (USL), India’s biggest liquor maker and a unit of Diageo plc, said it has sold its wine unit Four Seasons Wines and associated brands for Rs 32 cr. Four Seasons Wines was established in 2006 in Bangalore. It produces red, white, and rose wines from grapes grown around Sahyadri valley in Maharashtra […]
Jewelry manufacturer Rajesh Exports said it has won an order for jewelry worth Rs 933 Crores from a UAE-based firm. The order is for its new design jewelry, and will be supplied from its manufacturing facility. It order has to be fulfilled by March. The company had recently introduced new designs in the international markets which […]
Havells India, one of the fastest growing appliances and electrical gear makers in the country, said it will launch a wifi-enabled, temperature-sensitive smart fan next year. Named ‘Enticer Smart’ after its Enticer series, the fan would have smart capabilities, such as automatically adjusting its rotating speed based on the temperature of the room. The fan […]
India’s largest lead recycler Gravita India said it has been forced partially cancel a Rs 300 cr order received earlier this year due to counterparty problems. The company said it supplied only 3,800 tons out of the contracted Rs 18,000 tons to buyer Kyen Resources Pte. Ltd. Singapore. “The contract entered with them has been terminated due […]
Jindal Steel and Power Ltd reported a 53% jump in crude steel sales for the September quarter compared to the same quarter last year. It sold 1.27 million tons of crude steel during the quarter, up 7.6% compared to the March quarter, and well clear of the 0.83 million tons recorded in the same quarter […]
Parag Milk Foods said the government’s move to increase subsidy on the export of milk and milk products will help the company’s exports. The Government of India has increased the export subsidy benefit on milk & milk products from 10% to 20% as part of its efforts to spur exports and bring down the trade […]
Nagarjuna Fertilizers and Chemicals said it is facing working capital issues that are preventing it from operating its plant. “..the company had taken plant maintenance activities on July 4, 2018,” it said in a statement today. “The shutdown had to be extended due to inadequate working capital on account of Direct Benefit Transfer (DBT) and accumulated […]
Voltas, the refrigeration company from the Tata Group, announced the launch of the first products from its 50:50 venture with Turkey’s Arçelik. A total of 100 models of home appliances, including refrigerators and washing machines, will be introduced to the Indian market under the Voltas Beko brand over the next three months, it added. The two […]
JSW Steel Ltd reported an 8% jump in its crude steel production for August to 14.48 lakh tons. Crude steel refers to the first state of produced steel, and can be processed by the company into other products or sold to third parties. In the month of August, output of long rolled products, such as […]
Government of India’s NALCO, or National Aluminium Company, said its primary Aluminium smelter plant at Angul in Orissa is facing a ‘crisis’ due to the the shortage of coal to produce power. Smelting of alumina into aluminium is one of the most power-hungry processes in industrial production. To supply power to the unit, NALCO had […]
Nature-based consumer products maker Dabur India reported 24.6% growth in net profit for the first quarter, riding the trend of rising sales. However, the company, which faces tough competition from Patanjali Ayurved, reported a dip in profits when compared with the preceding quarter. The primary reason for the sequential decline was a sharp increase in […]
Lumax, India’s biggest maker of automotive lamps, reported a 32% increase in its Apr-Jun quarter, boosted by a sharp increase in revenue. Revenue jumped to Rs 496 cr, up 46% compared to the same quarter a year ago, while net profit rose to Rs 20 cr, up from Rs 15 cr in the same quarter […]
Jindal Steel and Power Limited said steel sales volumes in India rose 46% in Apr-Jun quarter to 1.18 mln tons compared to the year ago. The sales number is at a similar level to the preceding Jan-Mar quarter, when the company had sold 1.18 million tons. In terms of production, there was an increase of […]
JSW Steel said it will increase the manufacturing capacity of its Vijayanagar Works plant to 13 millions tons per year from 12 MTPA by March 2020 at a cost of Rs 7,500 crore. The plant is claimed as the largest state-of-the-art single location steel manufacturing unit in India. Located 380 kilometres from Karnataka’s capital city, […]
