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BUSINESS

BEML receives LoA from DMRC for supply of 378 metro coaches

BEML has received Letter of Acceptance (LoA) from DMRC for supply of 378 metro coaches (63 metro trains) to Mumbai Metro Line- 2 and 7 project. The contract is worth about Rs 3015 crore and the scope of work include design, manufacture, supply, testing and commissioning of 378 metro coaches, ... Read More »

Havells India launches India’s first Water Purifier with pH balance

Havells India has launched range of unique water purifiers capable of handling new age pollutants. These purifiers maintain the pH balance in water and add various essential minerals and trace elements lost during the reverse osmosis (RO) process. As per the data compiled by Integrated Disease Survillance Program (IDSP), around ... Read More »

Lupin launches India’s first chatbot for patients

Lupin has launched chatbot named ‘ANYA’ specially designed to provide medically verified information for health-related queries. ANYA is the first bot of its kind to be launched in India for disease awareness. It’s a made in India for India initiative aimed at answering patient queries related to ailments. ANYA is ... Read More »

JSW Steel planning to increase manufacturing capacity

JSW Steel is planning to increase manufacturing capacity to 44-45 million tonnes per annum by 2030 from the present 19 million tonnes, as part of its expansion plan. The company is working on expansion to take Vijayanagar Works unit’s capacity from 12 MTPA to 13 million (by August 2019). JSW ... Read More »

Info Edge invests Rs 3 crore in Bizcrum Infotech

Info Edge (India) has invested through its wholly-owned subsidiary about Rs 3 crore in Bizcrum Infotech. The company has acquired 2,998,800 Compulsorily Convertible Preference Shares having face value of Rs 10 each. The aggregate shareholding of the company, post this investment, in the said entity would be 27.27% on fully ... Read More »

Housing and Urban Development Corporation planning to raise funds

Housing and Urban Development Corporation (HUDCO) is planning for issue/allotment of Government of India (GoI) Fully Serviced, Unsecured, Redeemable, Non-Convertible, Non-Cumulative Taxable Bonds in the nature of debentures of face value of Rs 10,00,000 each (Series-II 2018) aggregating up to Rs 2050 crore on private placement basis. The meeting of ... Read More »

Adani Enterprises incorporates WOS company

Adani Enterprises has incorporated a wholly owned subsidiary (WOS) company namely Mundra Copper (MCL) on November 22, 2018. Adani Enterprises is an infrastructure company. The company is engaged in coal trading, coal mining, oil and gas exploration, ports, multimodal logistics, power generation and transmission, and gas distribution. Read More »

AXISCADES Engineering opens ‘Digital Centre of Excellence’ in Pune

AXISCADES Engineering Technologies has opened a Digital- Centre of Excellence (D-COE) in Pune, Maharashtra, India. The Digital – COE will house some of the key technology stacks that the company has been investing on including Industrial IOT, Augmented Reality, Artificial Intelligence /Machine Learning, Product Lifecycle Management (PLM) and Manufacturing Execution ... Read More »

Strides Pharma gets nod to invest $15 million in its biotech arm

Strides Pharma Science has received an approval from its Board of Directors to invest $15 million in its biotech arm Stelis Biopharma. The company will participate in the Series B fundraiser of Stelis Biopharma with a commitment of $15 million. The company currently own 36.25% stake in Stelis, the former ... Read More »

Welspun’s arm enters into partnership with Yes Bank

Yes Bank has entered into partnership with Welspun Global Brands (WGBL) –a subsidiary of Welspun India to facilitate Industry-first Electronic Presentation of Export Documents. WGBL has yearly export flows of $700 MM. With this transaction, Yes Bank becomes 1st Indian Bank to facilitate Electronic Presentation of Export Documents. The electronic ... Read More »

Indiabulls Housing Finance raises Rs 1000 crore via NCDs

Indiabulls Housing Finance has raised funds aggregating to Rs 1000 crore via private placement. The Board of Directors of the company at their meeting held on November 22, 2018 has allotted 10,000 Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10 lakh each aggregating to Rs 1,000 crore. These ... Read More »

IIFL Holdings’ arm acquires 100% stake in Wealth Advisors India

IIFL Holdings’ subsidiary– IIFL Wealth Management (IIFLW) has acquired 5,34,33,822 equity shares constituting 100% paid up share capital of Wealth Advisors India (WAI) at the total consideration of Rs 253.02 crore. Upon the said acquisition, WAI has become a wholly owned subsidiary of IIFLW and its employees have become part ... Read More »