BUSINESS

Gujarat Petrosynthese has received an approval to execute an agreement for the sale of the entire share capital of Gujarat Polybutenes, a wholly owned unlisted subsidiary of the company. The Board of Directors of the company at their meeting held on November 14, 2018, resolved the same. Gujarat Petrosynthese (Polymer …

Dewan Housing Finance Corporation (DHFL) has raised funds worth Rs 1500 crore. The Members of the Finance Committee of the Board of Directors at their meeting held on November 16, 2018, allotted 15,000 Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10 lakh each aggregating to Rs 1500 crore. …

Avonmore Capital & Management Services has received an approval for the proposal to transfer of its stake in the non-operating subsidiary companies namely ‘Latitude 23 Communications’ & ‘Almondz Infosystem’ and such transfer will result in cessation of such companies as the subsidiaries of the company. The Board of Directors of …

TTK Healthcare has entered into an agreement with i-Health, lnc., USA, for distribution of their health and wellness products in India. TTK Healthcare has three Strategic Business Units Pharamaceuticals Divison,Consumer Products Division and Biomedical Devices Division. The company’s brand wagon consists of products that are sought after by a wide …

Ipca Laboratories has reported results for second quarter ended September 30, 2018. The company has reported 24.12% rise in its net profit at Rs 119.74 crore for the quarter under review as compared to Rs 96.47 crore for the same quarter in the previous year. Total income of the company increased …

Shilpa Medicare has decided to acquire 5.22% stake in Prathijna Sustainable solutions. The Board of Directors of the company at their meeting held on November 14, 2018, decided the same. Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using …

Punj Lloyd is reportedly eyeing to expand the scope of its small-arms manufacturing facility in Gwalior in the state of Madhya Pradesh. The unit is likely to start making small-arms such as pistols, mostly for exports, by January 2019. The facility has been mainly focused on exports of assembly components …

Kintech Renewables’ wholly owned subsidiary — Divine Windfarm has sold its wind farm undertaking to third party as identified by the Board of Directors through the execution of Business Transfer Agreement dated November 14, 2018 on a Slump Sale basis for lump-sum consideration. Kintech Renewables is an Independent Power Producer …

Wheels India has reported results for second quarter ended September 30, 2018. The company has reported 14.16% fall in its net profit at Rs 22.67 crore for the quarter under review as compared to Rs 26.41 crore for the same quarter in the previous year. However, total income of the …

Mahindra & Mahindra (M&M) is planning to invest as much as Rs 1,000 crore in Karnataka in order to build a facility for the development and manufacturing of electric vehicles (EVs). The company will implement the project through its subsidiary, Mahindra Electric Mobility. M&M is the flagship company of the …

Pfizer has reported results for second quarter ended September 30, 2018. The company has reported 13.81% fall in its net profit at Rs 95.80 crore for the quarter under review as compared to Rs 111.15 crore for the same quarter in the previous year. Total income of the company decreased by …

Lemon Tree Hotels has signed a License Agreement for a 76 room property located at Bhubaneswar, Odisha under the company’s brand ‘Lemon Tree Premier’. The Hotel is expected to be operational by March, 2020. Carnation Hotels, the hotel management arm of the company will be operating and marketing this hotel. …

Shilpa Medicare has received tentative approval for its ANDA for Dimethyl Fumarate Delayed Release Capsules 120 mg & 240 mg. from USFDA. Dimethyl Fumarate Delayed Release Capsules 120 mg & 240 mg is a generic of TECFIDERA, used in the treatment of patients with relapsing forms of multiple sclerosis. This …

Reliance Infrastructure has reported results for second quarter ended September 30, 2018. The company has reported a fall of 65.66% in its net profit at Rs 204.31 crore for the quarter under review as compared to Rs 595.03 crore for the same quarter in the previous year. However, total income …

InterGlobe Aviation (IndiGo) is reportedly planning to launch flights to London and other European cities by single stop. The airline is in talks with the airports in Tbilisi which is in Georgia and Baku which is in Azerbaijan. The airlines is planning to start the route by March. IndiGo provides …

SRF has commissioned newly set-up facility to produce agrochemical at its Chemical Complex in Dahej, Gujarat and it is capitalised at a cost of Rs 257 crore. SRF is a leader in refrigerants, engineering plastics and industrial yarns in India. The company also manufactures polyester films and fluoro specialties. Besides …

Zensar Technologies has been ranked as a leader in the Zinnov Zones for Digital Services in Retail – 2018 report. Zinnov conducted an analysis of 14 Global Digital Service Providers in this space, evaluating them in the areas of digital prowess and scalability across 6 key categories such as Marketing …

Washington, Nov 16 (AFP) WikiLeaks founder Julian Assange, who was behind a massive dump of classified US documents in 2010, has been charged in the United States, WikiLeaks said Thursday. Prosecutors revealed the existence of the sealed indictment inadvertently in a court filing in an unrelated case, WikiLeaks said. The exact nature …

V2 Retail has launched one operational Retail Store at Akbarpur, Shejadpur in the state of Uttar Pradesh. With this, the company has currently 73 Retail stores that are operational. V2 Retail is one of the fastest growing Retail Company in India. The company offers a portfolio of products, including apparel …

UPL has signed pact with Norway-based consulting firm Gexcon AS for setting up of a Centre of Excellence (CoE) in the state of Gujarat, which will focus on research activities to help estimate and mitigate industrial accidents. As per the agreement, the company will provide the main infrastructure for establishing …