BEL gets biggest ever export order as part of IAF’s Airbus C-295 order

Government of India-controlled Bharat Electronics Ltd, a manufacturer of defence electronics, said it received its largest ever export order in the form of a Make in India offset-contract from European aircraft manufacturer Airbus Defence & Space. In September this year, Indian Air Force had signed a Rs 20,000 cr contract with Airbus Defence and Space […]

Sabu Jacob’s Kitex Garments starts Telangana unit

Kitex Garments has incorporated a new company in Telangana, Andhra Pradesh, with an initial capital of Rs 100 cr, in keeping with the company’s earlier announcement of shifting some of its expansion to the new South Indian state. The Kerala-based company had created controversy in its home state several months ago due to political statements […]

Dixon starts making fully automatic washing machines for BOSCH

Dixon Technologies, one of the rare success stories of India in electronics manufacturing, said it has started making fully automatic washing machines. The appliances are being made for BSH Household Appliances Private Ltd, the local unit of the global giant that owns brands such as Bosch. Manufacturing has been started at Dixon’s Tirupati factory. Before […]

Rising input costs, monsoon dampen Birla Corp’s Q2 earnings

The 102-year-old Birla Corporation, one of the oldest companies in India and one of its largest cement and jute producers, said the sharp rise seen in commodity prices in recent months and an extended monsoon hurt its margins during the Jul-Sep period. The company’s operating profit or EBITDA — a measure of profit that excludes […]

Polycab sells copper plant to Hindalco for Rs 168 cr plus debt

Polycab India Limited, one of the best performing mid-sized companies in India and a maker of electrical goods, said it has decided to sell its copper rod manufacturing business to metal refiner Hindalco Industries, part of the Aditya Birla group of companies. Polycab said it decided to take this step as Hindalco would be better […]

Parag Milk says derivates back to growth, milk vols yet to reach pre-pandemic levels

Parag Milk Foods Ltd, India’s largest dairy-focused consumer goods brand, said sales of some of its key products has reached pre-pandemic levels, but sales of liquid milk are half their regular volume. The company, which was hit by the COVID-19 pandemic both because of logistical disruptions as well as a dip in consumer demand, reported […]

Rising costs dampen Exide’s revenue out-performance

Exide Industries, one of India’s oldest automotive battery companies, reported a strong increase in revenue for the September quarter, but an equally significant jump in the cost of key raw materials prevented any benefit of the higher sales from flowing to the company’s bottom line. The company’s operating revenue jumped Rs 4,758 cr from Rs […]

Havells sees shift to organized players as input prices rise

Havells India, one of the country’s largest electrical equipment makers, said it expects organized players such as itself to benefit as raw material price increases put pressure on unorganized players. The company, a prominent player in the switchgear, wire and lighting segments in India, also said that demand for electrical goods in India is on […]

Ramkrishna Forgings wins Indian Railways order for loco shells

Ramkrishna Forgings, which recently diversified beyond the automobile market to tide over the uncertainties associated with the sector, has won yet another contract from Indian Railways. The company said it won a contract o supply loco shells, the shell or body of locomotive engines or train engines. The value of the contract was not disclosed. […]

After EU, Lincoln Pharma gets Australian approval for plant

India-based Lincoln Pharmaceuticals Ltd said it is looking forward to entering the Australian market, after Australia’s medicines and medical devices regulator – Therapeutic Goods Administration {TGA) – approved the company’s primary manufacturing plant in Khatraj, Gujarat. The approval, said the medicine manufacturer, has been granted for all three sections, tablets, capsules and creams & ointments. […]

Reliance Industries forms trading subsidiary in the UAE

Reliance Industries, India’s most valuable company, has established a subsidiary in the United Arab Emirates. The company said it invested $1 mn to float Reliance International Ltd based in Abu Dhabi Global Market, UAE. The company will engage in trading of crude oil, petroleum products, petrochemicals and agricultural commodities, among others, said the Mukesh Ambani-led […]

Blue Star increases outlay for Sri City plant to Rs 550 cr, eyes Q2 completion

Air conditioning company Blue Star said it began construction work on its Rs 550 cr manufacturing plant in Sri City in Chittoor district of Andhra Pradesh. The plant will likely be included in the production-linked incentive scheme of government of India, under which companies are eligible to get around 5% of their sales as incentives […]

Anupam Rasayan gets Rs 145 cr order from European client

Specialty chemicals maker Anupam Rasayan said it has signed a preliminary, Rs 145 cr supply agreement with an existing European customer “which is one of the top ten multinational company across the globe”. The company did not name the client or the molecule to be supplied, but said the specialty chemical is related to life […]

Post COVID, Raymond cancels demerger of apparels, to monetize real estate

Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]

Dixon Tech, Japan’s Rexxam in electronics components JV

Dixon Technologies, arguably the most successful Indian electronics manufacturer of all times, said it has decided to float a 40:60 joint venture with its customer and Japanese electronic components maker Rexxam to target both Indian and international markets. The two companies have inked a memorandum of understanding and will begin the work of thrashing out […]

Tata Steel Mining & JSL to jointly mine chromite in Odisha

Tata Steel Mining Limited said it signed an agreement with Jindal Stainless to jointly mine the chrome ore lying beneath the boundary between the companies’ mines in Sukinda in Odisha’s Jajpur district. Chromium is used to make shiny metallic items, such as stainless steel vessels and chrome-plated auto parts. The companies said the chromite — […]

HFCL to become 5G supplier, sets up dedicated unit

Telecom equipment and services provider HFCL Ltd said it plans to offer 5G equipment and turnkey services, marking a move up from its roots as a telecom contractor. The company, which has in recent years successfully diversified into manufacturing — particularly of fiber optic cables and terminal devices — said its new 5G network services […]

Indian Army orders more Akash missiles from BDL

Bharat Dynamics Ltd, the prime production agency under India’s Integrated Guided Missile Development Programme (IGMDP), said it received top-up orders worth Rs 499 cr for the supply of Akash missiles to the Indian Army. Bharat Dynamics Ltd had got a mega contract worth for Rs 14,000 cr for Aakash missiles in March 2018. In September […]