Arvind Limited, one of the largest integrated textile and branded apparel players, reported an improved set of results for the Jan-Mar quarter, boosted by strong revenue growth. Pretax profit rose by Rs 32 cr (29%) on year to 142 cr. This was also 57% higher compared to the preceding quarter. Higher tax expenses (Rs 26 […]
Pharma player Strides Shasun said it has agreed in principle to merge its Australian business with the Australian operations of peer Apotex. Both have substantial businesses in Australia; Strides under the Arrow brand and Apotex under its primary brand. The merger will enable Strides, through the merged business, to become the leading player in the […]
India’s largest carmaker Maruti Suzuki unveiled a new look for Vitara Brezza, one of the most successful cars in its history. The company also announced that it is selling around 12,300 units per month, making it the most popular SUV in India. “The exterior and interior features have been given a makeover, enhancing the bold […]
Hindustan Media Ventures, which publishes Hindustan, the Hindi newspaper from the Hindustan Times Group, continued to report a deterioration in its financial performance in Jan-Mar, in keeping with a negative trend in the print newspaper industry. The company’s consolidated operating revenue for January-March fell sharply by about 14% compared to the same three months of […]
Dwarikesh Sugar Industries reported a sharp decline in its performance for the quarter ended March, blaming a “rapid & unexpected fall” in sugar prices. Against net profit of Rs 46 cr for the same quarter last year, the company reported net loss of Rs 9.2 cr for the March quarter this year. Operating profit (EBITDA) […]
Manpasand Beverages said it has inked a distribution tie-up with Parle Products, one of India’s largest food and beverage companies, for the Western Indian market. The move comes after a similar agreement for eastern India helped Manpasand increase its reach. Through this partnership, Manpasand Beverage said, it will have access to 45 lakh outlets pan-India […]
Adding yet another key win to their orderbook, Anil Ambani Group’s Reliance Infrastructure and partner Astaldi of Italy have won the prestigious Versova-Bandra sea link project at a cost of Rs 6,993.99 cr. They beat big names like joint ventures of Larsen & Tourbo and Samsung, as well as Hyundai and ITD. This is the […]
Dish TV, India’s oldest direct-to-home service, has started using the satellite feed of Videocon D2h for its new customers in South India, more or less doubling the number of South Indian channels available on the platform. With this, the number of Tamil channels on Dish TV has jumped to 88, including 4 in HD, compared […]
Real Estate player Godrej Properties said Singapore-based Gamnat Pte Ltd wil invest Rs 1,000 cr in the company. The investment will be carried out at a share price of Rs 783.50, roughly equal to today’s opening price. Shares of the company shot up to Rs 813.55 after the news was announced, and are currently trading […]
Personal care products maker Emami Ltd reported a 12% growth in fourth-quarter revenue, but profit levels were impacted to due to a sharp increase in material costs and the write-off of a tax credit. The company posted revenue of Rs 617 cr for the quarter, but net profit fell to Rs 60 cr from Rs […]
DB Realty Ltd said a civil judge in Thane has dismissed a petition by the central government that disputed the company’s ownership of 244 acres of land next to the Mira Road railway station in Mumbai, one of the fastest growing suburbs of the city. The court “dismissed the suit filed the Uol (Union of […]
Oil and Natural Gas Corporation Ltd, India’s largest hydrocarbon producer, said it plans to spend Rs 17,615 cr on drilling activity in the current financial year. This is a 24% increase over the Rs 14,200 cr spent in the year ended March. The company also set a record in financial year 2017-18 by drilling the […]
Adani Group said it appointed Anil Sardana, who stepped down as Tata Power CEO three months ago, as the new CEO of its power transmission and distribution business just as it gets ready to take on the Tatas in Mumbai. Two months ago, Adani announced an agreement to purchase the transmission and distribution business of […]
Tata Motors reported monthly sales of 53,511 vehicles in April, up compared to 28,844 vehicles in the same month last year, but down from 69,440 in the previous month of March. Last year, April had seen confusion with regard to the Supreme Court ruling on BSIII to BSIV transition, which had kept the sales in […]
Television broadcaster NDTV Ltd said it was selling part of its stake in Red Pixels Ventures Ltd, an online focused subsidiary, to pay rent and meet other working capital requirements. NDTV Ltd holds about 37.04% of the online-focused outfit. NDTV said its board has approved the transfer of “up to 7.38% stake of the company […]
Steel and pipe manufacturer Prakash Industries reported a 45% jump in fourth-quarter sales and a 140% improvement in its operating profi, largely due to a steady improvement in steel prices. The company had sales of Rs 910 Crores and EBIDTA of Rs 210 Crores for the March quarter. With this, the full year sales is […]
Idea Cellular slashed its employee costs by nearly 40% in the three months from January to March this year, and also reduced several other items of expenditure in a successful attempt to protect its margins from the impact of falling revenue. As a result of the heavy cost cutting ahead of its merger with Vodafone, […]
The Andaman & Nicobar Island Administration can look forward to taking delivery of its two 500-passenger vehicles as the erection, or final welding, process has begun at the Cochin Shipyard. During the shipbuilding process, each ship block is brought to the building dock, where they are erected with cranes. After each erection, welding is carried […]
Indian Oil Corporation said it will set up a unit at its Paradip refinery to manufacture the main ingredient used in the production of polyester. The plant to manufacture ethylene glycol will be set up in Paradip in Odisha at a cost of Rs 4,221 cr, the company said. Ethylene Glycol is used to manufacture […]
Mahindra & Mahindra launched two high-power tractors under its Novo brand. The 65 horsepower variant with two-wheel drive has a starting price of Rs 9.99, while the 75 HP variant with four-wheel drive costs Rs.12.5 lakh. Currently most of the tractors available in India are in the 30-40 horsepower range. Like most tractors sold in […]
