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BUSINESS

ICRA reaffirms ratings assigned to Sasken Technologies

Credit rating agency, ICRA has reaffirmed rating assigned to Sasken Technologies’ Fund Based instrument worth Rs 50 crore at ‘A1+’. The rating agency has also reaffirmed rating of the Non Based Fund instrument worth Rs 40 crore at ‘A1+’. Sasken Technologies offers a range of services in areas of research ... Read More »

NHPC restores Dulhasti Power Station

NHPC has restored Dulhasti Power Station on January 08, 2019. Unit 1 & Unit 2 of Dulhasti Power Station have started generation at a capacity of 256 MW, while Unit 3 is under shutdown due to annual maintenance work. NHPC is engaged in electric power generation by hydroelectric power plants. ... Read More »

Tera Software bags order worth Rs 324.89 crore from APSFL

Tera Software has bagged a work order worth of Rs 324.89 crore from Andhra Pradesh State FiberNet (APSFL) and the company has signed an agreement with APSFL to act as Project Implementation Agency for BharatNet Phase-II works to establish Optical Fibre Grid Network (Supply, installation and Commissioning) in 3394 Gram ... Read More »

IFCI revises Benchmark Rate

IFCI has revised its Benchmark Rate with effective from January 09, 2019. IFCI Benchmark Rate (IBR) for Long Term Loans has been revised from 10.60% p.a. to 10.75% p.a., with monthly rests. The IFCI Short-Term Benchmark Rate (IBR-ST) for Short Term Loans continues to remain unchanged at 9.20% p.a. with ... Read More »

Maruti Suzuki reports 12% fall in December production

Maruti Suzuki India has reported 12% fall in its production to 107,478 vehicles in December 2018, as compared to 122,096 vehicles in December 2017. Of total, the company manufactured 28,406 vehicles under mini segment (including Alto, Wagon R) in December 2018, as against 32,443 units manufactured in corresponding month previous ... Read More »

LTI, ACORD expand long-standing alliance to drive digital adoption in insurance industry

Larsen & Toubro Infotech (LTI) and ACORD have expanded their long-standing alliance to develop a comprehensive set of digital standards & solutions for the Insurance industry. These digital standards and reference architectures will enable microservices-powered communication protocols, helping insurance companies quickly deploy standard digital technologies to transform operations, deliver better ... Read More »

Transgene Biotek secures USA patent on oral Insulin technology

Transgene Biotek has been granted United State of America patent on technology for Oral delivery of Insulin and Insulin analogues. This patent is a feather in the cap of Transgene Biotek’s list of global patents. This intimation of patent being granted by USA will strengthen the company’s management to justifiably ... Read More »

ITC inks pact with BRTC for supply of agarbattis

ITC has inked pact with the Bamboo Research and Training Centre (BRTC) in Maharashtra for the supply of agarbattis (incense sticks) marketed under its Mangaldeep brand. This is part of the company’s safety matches and agarbatti business unit. BRTC is an autonomous organization formed by Maharashtra Forest Department. The company ... Read More »

Vascon Engineers incorporates wholly owned subsidiary

Vascon Engineers has incorporated a wholly owned subsidiary company namely ‘Vascon EPC’ on January 07, 2019. Vascon Engineers is one of the foremost listed real estate companies headquartered in Pune with over 30 years of experience delivering 200+ projects spanning over 50 million square feet of landmark developments across residential, ... Read More »

Glenmark aims consolidated revenue growth of 12-15% over next 3-5 years

Glenmark Pharmaceuticals is aiming a consolidated revenue growth of 12-15% over the next 3-5 years, on account of strengthening the current business of generics, branded generics, anticipated launch of dermatology and respiratory specialty products during 2019-2022, and new molecular entity (NME) products from 2023 onwards. Glenmark Pharmaceuticals is a global ... Read More »

Poddar Housing gets nod to raise Rs 50 crore via NCDs

Poddar Housing and Development has received approval to raise funds aggregating up to Rs 50 crore through issuance of the 50,000 secured, Unrated, redeemable, unlisted, Non-Convertible Debentures (NCDs) of a face value of Rs 10,000 each on private placement basis. The Board of Directors of the Company at its meeting ... Read More »

Indian Bank gets nod to raise funds via bonds

Indian Bank has received approval for raising Basel III Compliant AT1 Bonds up to Rs 2200 crore and Tier 2 Bonds up to Rs 1100 crore. The bank will raise the funds in one or more tranches in the financial year 2019-20 based on the requirement. Indian Bank was established ... Read More »

KSS incorporates step down subsidiary

KSS’s subsidiary — K Sera Box Office has incorporated a wholly Owned Subsidiary namely Chhotumaharaj Food & Hospitality. The newly incorporated subsidiary will be engage in the business of Hotels and Restaurants and yet to commence its business operations. KSS (formerly K Sera Sera) is a content production house that ... Read More »

R Systems completes process of dissolution of Computaris USA

R Systems International has completed the process of dissolution of Computaris USA Inc., (step down subsidiary of the company), in order to optimize the subsidiary structure of Computaris International, UK (wholly owned subsidiary of the company). R Systems International is a software product development and BPO services company. They help ... Read More »