Arvind Ltd has strong Q4, despite margin softness in textiles

Arvind Ltd has strong Q4, despite margin softness in textiles

2018-05-09T13:49:46+00:00 On

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…

Dwarikesh Sugar swings to a Q4 loss on account of 15.5% fall in prices

Dwarikesh Sugar swings to a Q4 loss on account of 15.5% fall in prices

2018-05-07T16:15:48+00:00 On

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…

Prakash Industries Q4 PAT up 350% at Rs 152 cr as steel prices rise

Prakash Industries Q4 PAT up 350% at Rs 152 cr as steel prices rise

2018-04-30T13:57:04+00:00 On

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…

Indian Oil to set up Rs 4,200-cr ethylene glycol factory in Paradip

Indian Oil to set up Rs 4,200-cr ethylene glycol factory in Paradip

2018-04-27T17:23:34+00:00 On

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…

Mahindra Defence, BEL ink MoU for long-term partnership

Mahindra Defence, BEL ink MoU for long-term partnership

2018-04-12T13:07:56+00:00 On

Mahindra Defence Systems said it has entered into a long-term partnership with Government of India-controlled defence electronics manufacturer Bharat Electronics Ltd “to jointly address emerging opportunities in the domestic market”. The two will address opportunities created by policy initiatives of the Government…

Punj Lloyd, Adani tie up with Rave Gears USA to manufacture helicopter parts

Punj Lloyd, Adani tie up with Rave Gears USA to manufacture helicopter parts

2018-04-12T12:49:03+00:00 On

Punj Lloyd, Rave Gears (USA) and Adani Group said they will set up a joint venture to manufacture helicopter parts. The collaboration will use the manufacturing base in India for exports to global OEMs, both in the military and civil aerospace domain,…

Vedanta denied permission to restart smelter operations at Thoothukudi

Vedanta denied permission to restart smelter operations at Thoothukudi

2018-04-10T11:12:26+00:00 On

Vedanta, one of the world’s largest metal producers, said its application for renewal of consent for operating its smelter plant in Thoothukudi in Tamil Nadu has been rejected. The company had shut down the copper smelting plant on March 27 “as part…

Royal Enfield to set up new production unit near Chennai at Rs 800 cr

Royal Enfield to set up new production unit near Chennai at Rs 800 cr

2018-04-03T14:48:27+00:00 On

Royal Enfield, which makes the iconic ‘Bullet’ retro motorbikes in India, said it will invest Rs 800 cr this financial year to create the second phase of its factory at its Vallam Vadagal site near Chennai. The company, whose products cost upwards…

Tata Steel declared successful bidder for Bhushan Steel

Tata Steel declared successful bidder for Bhushan Steel

2018-03-23T09:12:17+00:00 On

Tata Steel said it has been declared as the successful resolution applicant by the Committee of Creditors of Bhushan Steel Limited, laying the ground for one of the biggest acquisitions in India’s iron and steel sector. Tata Steel said it has has…

L&T Technology Services wins ‘multi-million dollar’ order from German plastic maker

L&T Technology Services wins ‘multi-million dollar’ order from German plastic maker

2018-03-22T17:27:39+00:00 On

Engineering services provider L&T Technology Services said it won a multi-million dollar project from Covestro, a Germany-based manufacturer of advanced polymer materials, to transform the company’s operations. The contract covers two major areas. First, L&T Technology Services will help Covestro migrate data…

Arvind Ltd ties up with Adient to manufacture auto-seat fabrics

Arvind Ltd ties up with Adient to manufacture auto-seat fabrics

2018-03-21T12:03:23+00:00 On

Textile and garments maker Arvind Ltd said it set up a joint venture with global auto-seat specialist Adient to manufacture automotive seat fabrics in India. Adient Arvind Automotive Fabrics will be based in Ahmedabad, India, and will supply materials both to Indian…

Rafale deal makes no mention of Reliance Defence: Sitharaman

Rafale deal makes no mention of Reliance Defence: Sitharaman

2018-03-21T09:39:28+00:00 On

Defence minister Nirmala Sitharaman said India’s deal to acquire 36 Rafale jets was inked with the government of France, and that the deal does not require the French supplier to partner with Anil Ambani-led Reliance Defence. Sitharaman was answering a question raised…

Tata Power offers ‘Gorilla’ BLDC fans at 50% discount in tie-up with IIT start-up

Tata Power offers ‘Gorilla’ BLDC fans at 50% discount in tie-up with IIT start-up

2018-03-19T16:18:33+00:00 On

Tata Power, which supplies power to much of Mumbai, is offering a 50% subsidy to its customers who want to buy a BLDC or ultra-low power fan. Instead of Rs 3,500 per unit, customers will be able to get four units of…

India’s garment industry suffocates under GST bottlenecks

India’s garment industry suffocates under GST bottlenecks

2018-03-13T17:38:59+00:00 On

Apparel Export Promotion Council of India has sounded alarm on the continued decline in apparel production in India and said India won’t be able to meet the garment export target of $20 bln this year. “If the capital blockage continues and the…

Singapore’s Wilmar takes control of Shree Renuka Sugars

Singapore’s Wilmar takes control of Shree Renuka Sugars

2018-03-09T10:24:10+00:00 On

Singapore-based agricultural commodity player Wilmar International has taken a controlling stake in Shree Renuka Sugars, one of India’s largest sugar companies that was saddled with high levels of debt. As of December 30, both the Indian promoter and Wilmar had a stake…

Prakash Industries to spin off plastics business, enter packaging business

Prakash Industries to spin off plastics business, enter packaging business

2018-03-09T09:51:36+00:00 On

Prakash Industries said it will spin off its plastics business and enter the ‘flexible plastic packaging’ segment, a move that would see it competing with the likes of Uflex. The company said the new business will focus on high performance barrier films…