Voltas, Ardutch to establish their durables plant in Sanand, Gujarat

Voltas, Ardutch to establish their durables plant in Sanand, Gujarat

2018-06-23T17:04:05+00:00 On

Air conditioning company Voltas said Voltbek, its joint venture with Turkey’s Ardutch, will set up its first factory to produce refrigerators and washing machines in Sanand in Gujarat. The two companies had announced a joint venture agreement a year ago. “Voltbek has…

USFDA completes inspection at Zydus’ Ahmedabad plant

USFDA completes inspection at Zydus’ Ahmedabad plant

2018-06-06T09:53:42+00:00 On

Pharmaceuticals maker Zydus Cadila said the USFDA has completed an inspection of its injectables manufacturing plant at Ahmedabad with zero observations. No observations is good news for pharma manufacturers as it indicates that the inspectors found everything to order. The inspection of…

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…