Edelweiss Financial Services said its unit ECL Finance has signed an agreement with Bank of Baroda to explore co-lending or co-origination of loans to small businesses. The two will offer loans and expertise to MSME (micro, small and medium enterprises), self-employed persons as well as “priority sector groups”. “Under the arrangement, both partners can widen […]
Air conditioning and Refrigeration manufacturer Blue Star Limited said it launched 34 models of residential water purifiers with RO, UV, RO UV, RO+UV technologies. The company also said that it also plans to invest about Rs 30 crores on water purifiers in FY20. The offering, under brands such as Stella, Prisma, Imperia and Eleanor, have […]
Government of India owned construction and manufacturing firm Bharat Heavy Electricals Ltd (BHEL) said it received an order worth Rs 440 crore from Nuclear Power Corporation of India Limited (NPCIL) for the erection work of the upcoming 2×1000 Megawatt Turbine Generator (TG) island units at Kudankulam Nuclear Power Project in Tamil Nadu. BHEL also emerged […]
Jaguar Land Rover, the UK subsidiary of Tata Motors, reported a decline of 12.2% in retail sales in May due to ‘lower sales in China, overseas market and Europe’. It sold 42,370 units in May 2019, down 5,911 units from the same month last year. This compares to a decline of 13.3% posted in April […]
JSW Steel Limited, the flagship company of the Mumbai-based JSW Group, reported a 4% increase in production of crude steel in May 2019. JSW produced 14.53 lakh tonnes of crude steel during the period, compared to the 13.99 lakh tonnes produced a year ago. Besides crude steel, the company also produces long rolled products as […]
Two-wheeler manufacturer Hero MotoCorp Ltd said that it has received the BS-VI certification for its Splendor iSmart motorcycle, becoming the first two-wheeler manufacturer in India to receive the stamp. Hero MotoCorp said that it received the Type Approval Certificate from International Centre for Automotive Technology (ICAT) for the Splendor iSmart model, after it was successfully […]
Fashion and lifestyle company Aditya Birla Fashion and Retail Ltd said that it will acquire Jaypore E-Commerce Private Ltd, which sells “handmade, handwoven and handcrafted apparel, jewellery, home textiles and accents”, for Rs 110 crore including debt. Aditya Birla Group did not break out the equity component of the company’s valuation, nor did it give […]
Chennai-headquartered construction company RPP Infra Projects said it received a new order worth Rs 47.2 crores from Government of India owned construction and manufacturing firm Bharat Heavy Electricals Ltd (BHEL) for structural works of their Coal Handling Plant & Ash-Handling Plant in Tuticorin, Chennai. The project will be completed within 24 months. RPP lnfra’s order […]
India’s largest multiplex chain PVR Cinemas announced the launch of its new multiplex at Uthandi Mall, Chennai. The ten-screen property is equipped with a BARCO 2K projection system that offers better picture quality, said PVR Cinemas. In addition to this, the auditoriums are equipped with Dolby 7.1 surround sound and next-generation 3-D. PVR also introduced […]
Infrastructure major Larsen and Toubro (L&T) said its construction business has received orders worth over Rs 2,500 crore across various Indian states including Delhi, Gujarat, Karnataka, Tamil Nadu, Andhra Pradesh, Uttar Pradesh and Maharashtra. L&T secured an order from the Mumbai Metro Rail Corporation Ltd for the design, procurement, supply, installation, testing and commissioning of […]
Eros International Plc, listed on the New York Stock Exchange, denied short-seller allegations about financial misappropriations at the the India-based content aggregation company said it was also working with CARE Ratings to address their concerns. It also announced a $20 million (Rs 138 cr) share repurchase program. The company’s stock also took a knock last […]
UltraTech Cement Limited, the largest manufacturer of grey cement, white cement and ready-mix concrete in India, said it plans to increase the contribution of green energy to 25 per cent of its total power consumption by 2021. More than 10% of the total power will come from renewable energy sources, it added. This will mean […]
Hyderabad-based pharmaceutical company Natco Pharmaceuticals said United States Food and Drug Administration (USFDA) issued nine observations after an inspection at Natco’s formulation facility in Kothur, Hyderabad. Natco said it believes that most of the observations were ‘procedural’ in nature and not pertaining to data integrity. Natco said that it will address the USFDA observation within […]
Pharmaceutical manufacturer Alembic Pharmaceuticals Ltd said it received approval from the United States Food and Drug Administration (USFDA) for the sales of a therapeutic equivalent of Merck Sharp & Dohme Corp’s Sinemet Carbidopa/Levodopa sustained release tablets in the US market. Carbidopa and Levodopa Extended-Release tablets are used to treat symptoms of Parkinson’s disease and Parkinson’s-like […]
Tata Sky, which came out with one of the most complicated Multi TV plans in the wake of the introduction of new tariff order by TRAI, has decided to withdraw its multi-TV plans from Jun 15. The reason for the move is not clear, but may have something to do with complying fully with the […]
Mumbai-based pharmaceutical company Indoco Remedies said that the United States Food and Drug Administration (USFDA) issued four observations after its inspection at Indoco’s sterile manufacturing facility in Verna, Goa. The facility at Verna mainly manufactures ophthalmics and injectables for ophthalmic preparations. Apart from USFDA, the facility has also been approved by the Medicines Control Council […]
State owned oil and gas company Indian Oil Corporation Ltd (IOCL) said that it has entered into a joint venture with Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) for the implementation and operation for a 2,757-km long LPG pipeline from Kandla, Gujarat to Gorakhpur, Uttar Pradesh. While Indian Oil Corporation will […]
Bharti Airtel said its unit Airtel Africa has “informed it of its intention to proceed with an IPO” that could raise up to $863 million. The IPO will be sized at $750 million, with a greenshoe option of 15%. Greenshoe option refers to the facility given to the underwriters to an IPO to buy extra […]
Pharmaceutical manufacturer Zydus Cadila said that the United States Food and Drug Administration (USFDA) issued 11 observations after inspections at two of the manufacturing facilities of Nesher Pharmaceuticals, a subsidiary of Zydus’ US arm. Both the facilities are located at St Louis, United States. issuing of observations indicate that the inspectors did not find everything […]
Commercial vehicle maker Ashok Leyland reported a 4% drop in domestic sales of medium and heavy commercial vehicles in May as the Indian auto industry grapples with an overall slowdown. Within the medium and heavy commercial vehicle segment, truck numbers fell by 168 units or 2% to 7,325, while bus numbers declined by 173 units […]
