Blue Star top management reshuffled: Suneel Advani retires, Shailesh Haribhakti is new chairman

Suneel M Advani, Managing Director and Chairman of Blue Star and the son of its founder Mohan Advani, has stepped down and will be replaced by Shailesh Haribhakti. Haribhakti will assume charges from April 1, becoming the first professional, independent chairman in the history of the air conditioning company. Suneel Advani who took over the […]

Voltas to set up Rs 500 cr appliance complex in Tirupati

Voltas, India’s largest air-conditioner maker, said it will invest Rs 500 cr to set up a AC and appliance manufacturing complex in Tirupati. The plant will initially manufacture and assemble air conditioners and related cooling products, starting from the second half of next year. It will have a total capacity of more than 1 million […]

Inox Wind gets 500 MW wind power plant order from Adani Green Energy

Inox Wind said it has received a contract from Adani Green Energy to build a 501.6 MW wind power project in Kutch District in Gujarat. The financial details of the contract were not revealed. Adani Green Energy, a subsidiary of the Ahmedabad-based Adani Group, won the projects under the Solar Energy Corporation of India (SECI) […]

United Spirits sells Bangalore-based wine unit

United Spirits Limited (USL), India’s biggest liquor maker and a unit of Diageo plc, said it has sold its wine unit Four Seasons Wines and associated brands for Rs 32 cr. Four Seasons Wines was established in 2006 in Bangalore. It produces red, white, and rose wines from grapes grown around Sahyadri valley in Maharashtra […]

Rajesh Exports gets Rs 933 cr order from UAE jewelry firm

Jewelry manufacturer Rajesh Exports said it has won an order for jewelry worth Rs 933 Crores from a UAE-based firm. The order is for its new design jewelry, and will be supplied from its manufacturing facility. It order has to be fulfilled by March. The company had recently introduced new designs in the international markets which […]

Havells India to launch temperature-sensitive ‘smart fans’ with IoT

Havells India, one of the fastest growing appliances and electrical gear makers in the country, said it will launch a wifi-enabled, temperature-sensitive smart fan next year. Named ‘Enticer Smart’ after its Enticer series, the fan would have smart capabilities, such as automatically adjusting its rotating speed based on the temperature of the room. The fan […]

Nagarjuna Fertilizers faces working capital issues

Nagarjuna Fertilizers and Chemicals said it is facing working capital issues that are preventing it from operating its plant. “..the company had taken plant maintenance activities on July 4, 2018,” it said in a statement today. “The shutdown had to be extended due to inadequate working capital on account of Direct Benefit Transfer (DBT) and accumulated […]

Voltas’ white goods JV with Turkey’s Arçelik starts India sales

Voltas, the refrigeration company from the Tata Group, announced the launch of the first products from its 50:50 venture with Turkey’s Arçelik. A total of 100 models of home appliances, including refrigerators and washing machines, will be introduced to the Indian market under the Voltas Beko brand over the next three months, it added. The two […]

Nalco says facing a ‘coal crisis’ due to govt’s supply prioritization

Government of India’s NALCO, or National Aluminium Company, said its primary Aluminium smelter plant at Angul in Orissa is facing a ‘crisis’ due to the the shortage of coal to produce power. Smelting of alumina into aluminium is one of the most power-hungry processes in industrial production. To supply power to the unit, NALCO had […]

Dabur reports strong sales growth, margins decline QoQ

Nature-based consumer products maker Dabur India reported 24.6% growth in net profit for the first quarter, riding the trend of rising sales. However, the company, which faces tough competition from Patanjali Ayurved, reported a dip in profits when compared with the preceding quarter. The primary reason for the sequential decline was a sharp increase in […]

JSW Steel outlines expansion plans for Vijayanagar Works

JSW Steel said it will increase the manufacturing capacity of its Vijayanagar Works plant to 13 millions tons per year from 12 MTPA by March 2020 at a cost of Rs 7,500 crore. The plant is claimed as the largest state-of-the-art single location steel manufacturing unit in India. Located 380 kilometres from Karnataka’s capital city, […]

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

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 today laid ground to start construction of their first manufacturing facility, spread over […]

KPR Mill to enter branded retail business

KPR Mill Limited, which makes yarn, garments and sugar, said it has decided to enter into what it called ‘branded retail business’. “We wish to inform you that KPR plans to enter into branded retail business,” the company said in a regulatory filing. “(We have) initiated building up the retail business team,” it said. However, […]