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BUSINESS

Visaka Industries commences commercial production at V-Boards Unit

Visaka Industries has commissioned V-Boards Unit at Jhanswa village in the state of Haryana with an installed annual capacity of 50,000 MTS and is starting commercial production from March 11, 2019. The company expects the plant would reach 50% capacity utilisation within one month and reach its full capacity progressively ... Read More »

PNB sanctions loans to 1,600 MSMEs worth Rs 689 crore

Punjab National Bank (PNB) has sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.com portal. The Bank has sanctioned loans as part of its effort to promote such industries. Under the Mudra Yojana, the bank has offered loan to over 2.69 ... Read More »

BHEL installs first SEVC on the Delhi-Chandigarh Highway

Mumbai : Bharat Heavy Electricals (BHEL) is setting up a network of Solar-based Electric Vehicle Chargers (SEVC) on the Delhi-Chandigarh Highway. The first in the series of Charging Stations was inaugurated at Ethnic India Resort, in Sonepat, in the state of Haryana. The project is covered under the FAME scheme ... Read More »

Gold futures trade down on Monday

Mumbai : Gold futures traded down on Monday, despite dollar weakness amid prospects of a trade deal between China and the United States. The yellow metal failed to attract safe-haven investments. Gold futures for April delivery were down 0.2 percent at $1,297.20 on the Comex division of the New York ... Read More »

Indian Hume Pipe gets three LoI worth Rs 187.06 crore from VIDC

Indian Hume Pipe Company has received three Letters of Intent (LoI) for the works aggregating to Rs 187.06 crore from Vidarbha Irrigation Development Corporation (VIDC), Nagpur in the state of Maharashtra. The first LoI is for construction of MS Feeder Pipeline from Kochi Barrage to Pench and allied Works of ... Read More »

JSW Steel aligns strategic partnership with DITH

JSW Steel and Duferco International Trading Holding SA (DITH) have aligned their strategic goals in a landmark $700 million 5-year Advance Payment and Supply Agreement (APSA) executed on the February 27, 2019. This unique financing structure provides JSW long term funding to complement its plans for future growth secured by ... Read More »

Coal India aiming to meet production, off-take of 610 MT

Coal India is aiming to meet the 610 million tonne (MT) production and off-take target as per the pact it signed with the coal ministry, despite a production momentum dip in the initial months of the current fiscal. After the high production growth rate of 15 percent in the April-June ... Read More »

RIL’s arm signs agreement to acquire stake in C-Square

Reliance Industries’ (RIL) wholly-owned subsidiary — Reliance Industrial Investments and Holdings (RIIHL) has entered into an agreement for acquisition of equity shares of C-Square Info Solutions for a cash consideration not exceeding Rs 22.04 crore. RIIHL will further invest an amount of up to Rs 60 crore and is likely ... Read More »

GMR Infra’s arm divests 100% stake in APFTAL

GMR Infrastructure’s (GIL) subsidiary — GMR Hyderabad International Airport (GHIAL) has divested its 100% stake in its subsidiary namely Asia Pacific Flight Training Academy (APFTAL) to a third party, for a token consideration. APFTAL is engaged in the business of providing flight training. Consequent to the above divestment, APFTAL has ... Read More »