BUSINESS

Dewan Housing Finance Corporation (DHFL) is planning to raise funds through issue of Secured Redeemable Non-Convertible Debentures (NCDs) amounting to Rs 1500 crore on Private Placement basis. DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The ... Read More »

Vedanta is planning to inject Rs 15,000 crore to raise the alumina refinery capacity at Lanjigarh three-fold to 6 mtpa and firm up downstream sector in Odisha in three years. The company has already invested over Rs 50,000 crore in Odisha projects. Vedanta is a diversified natural resources company, whose ... Read More »

Jindal Steel & Power (JSPL) will increase investment in Odisha from Rs 45,000 crore to Rs One lakh crore by 2030. With the increased investment, the capacity of Angul steel plant will increase from 6 mtpa to 20 mtpa and employment generation will be enhanced from 50,000 to 1,00,000. JSPL ... Read More »

Bank of India has reported results for second quarter ended September 30, 2018. The Bank has reported net loss of Rs 1,156.25 crore for the quarter under review as against net profit of Rs 179.07 crore for the same quarter in the previous year. Total income of the Bank decreased ... Read More »

Tata Steel has begun the phase-II expansion of Kalinganagar plant to 8 million tons per annum (mtpa) capacity from 3 mtpa. The expansion will incur a cost of Rs 23,500 crore and take 48 months to complete. The project configuration and costs include investments in raw material capacity expansion, upstream ... Read More »

Bank of Baroda is planning to raise funds through Basel III Compliant Tier II bonds, for size and amount as may be decided, within overall Board approved Capital Plan. The meeting of the designated Board Committee i.e. Capital Raising Committee is scheduled to be held on November 15, 2018, to ... Read More »

Suven Life Science has secured one product patent from Australia and one product patent from Hong Kong corresponding to the New Chemical Entities for the treatment of disorders associated with Neurodegenerative diseases and patents are valid through 2036 and 2033 respectively. The granted claims of the patents include the class ... Read More »

Mahindra & Mahindra (M&M) has launched a new variant of its popular SUV Scorpio priced at Rs 13.99 lakh (ex-showroom Delhi). The ‘feature-packed’ S9 will be available pan India across Mahindra dealerships with immediate effect. The new variant will be powered by the mHAWK engine with 140 bhp and is ... Read More »

GAIL’s (India) subsidiary — GAIL Gas has signed a Memorandum of Understanding (MoU) with Energy Efficiency Services (EESL) for fast-tracking the implementation of co-generation and tri-generation projects and use of natural gas in industrial and commercial segments. The MoU is set to benefit commercial installations like hotels, hospitals, airports, commercial ... Read More »

Nova Iron & Steel has received an approval for disinvestment in Bijahan Coal. The Board of Directors of the company at their meeting held on November 12, 2018, approved the same. Nova Iron & Steel engages in the manufacture and sale of sponge iron in India. The company also provides ... Read More »

Aurobindo Pharma has reported results for second quarter ended September 30, 2018. The company has reported a fall of 49.40% in its net profit at Rs 380.95 crore for the quarter under review as compared to Rs 752.83 crore for the same quarter in the previous year. However, total income ... Read More »

Shree Surgovind Tradelink has received an approval to increase the investment and/or lending limit up to maximum of Rs 30 crore in Wholly Owned Subsidiary namely- RR Lifecare. The Board of Directors of the company at their meeting held on November 12, 2018, approved the same. The Board has also ... Read More »

Intellect Design Arena and Intracom Telecom have introduced ‘Intrallect Banking Solution’, a novel joint cloud-based proposition, enabling the end-to-end digitalization of the commercial banks operations in the most secure, efficient and scalable manner. The partnering companies organized on November 8, 2018, a dedicated event on the transformation of digital banking ... Read More »

Eicher Motors has reported results for second quarter ended September 30, 2018. The company has reported a fall of 1.04% in its net profit at Rs 481.37 crore for the quarter under review as compared to Rs 486.44 crore for the same quarter in the previous year. However, total income ... Read More »

Tata Motors Group global wholesales in October 2018, including Jaguar Land Rover, were at 1,09,597 nos., higher by 6%, as compared to October 2017. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in October 2018 were at 44,380 number, higher by 19%, over October 2017. Global ... Read More »

NBCC India has secured total business of Rs 1,854.00 crore in the month of October, 2018. Earlier, the company had secured total business of Rs 353.70 crore in the month of September, 2018. NBCC (India) is one of the few public sector companies engaged in the business of project management ... Read More »

Oil India has reported results for second quarter ended September 30, 2018. The company has reported 33.44% rise in its net profit at Rs 862.01 crore for the quarter under review as compared to Rs 645.97 crore for the same quarter in the previous year. Total income of the company ... Read More »

HCL Technologies and NetBrain Technologies Inc, a leading network automation solutions provider, has launched HCL NetBot, a joint collaborative technology that offers network visibility and network automation capabilities for enterprise IT teams. The company’s DRYiCE division is dedicated to building enterprise-grade, Artificial Intelligence-powered automation products and platforms to transform the ... Read More »

Cyient has signed a Memorandum of Understanding (MoU) with the Telangana Academy for Skill and Knowledge (TASK) to collaborate on skill-building and to improve employability for engineering students by imparting technical and soft skills trainings for the students. The primary objective of this industry-academia partnership is to leverage Cyient’s engineering ... Read More »

L&T Technology Services (LTTS) has been conferred with the ‘Supplier of the Year 2017 Award’ by Continental, a leading German technology company. The company is the only engineering partner to have been awarded the prestigious accolade. The association between the company and Continental began in 2011 and over the seven ... Read More »