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BUSINESS

Jiya Eco-Products planning to enter into Joint Venture with Korkia

Jiya Eco-Products is planning to enter into Joint Venture with Korkia (Finland). The meeting of the Board of Directors of the company is scheduled to be held on November 05, 2018, to consider the same. Jiya Eco-Products is engaged in the manufacturing of bio-fuels viz. bio-briquettes and bio-pellets which is ... Read More »

Cochin Shipyard reports 47% rise in Q2 net profit

Cochin Shipyard has reported results for second quarter ended September 30, 2018. The company has reported 47.33% rise in its net profit at Rs 147.64 crore for the quarter under review as compared to Rs 100.21 crore for the same quarter in the previous year. Total income of the company ... Read More »

Tech Mahindra gets nod for scheme of merger

Tech Mahindra has received an approval for Merger by Absorption of Tech Mahindra Growth Factories (hereinafter collectively referred as the Transferor Company), a wholly owned subsidiary company with itself (the Company or Transferee Company) and their respective Shareholders. The Board of Directors of the company at their meeting held on ... Read More »

Muthoot Finance acquires Muthoot Money

Muthoot Finance has acquired Muthoot Money (MMPL), post approval of the Reserve Bank of India. The company purchased 5,625 number of equity shares of face value Rs 1,000 each at a price of Rs 17,685 per share aggregating to Rs 9,94,78,125 from existing shareholders; and subscribed 56,545 number of fresh ... Read More »

Shriram Transport Finance raises Rs 300 crore via bonds

Shriram Transport Finance Company has raised funds worth Rs 300 crore through issuance of bonds. The issue comprises three tenor bonds of three, five and ten years, offering a coupon in the range 9.12% to 9.70%. Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and ... Read More »

GMR Infrastructure’s arm enters into definitive share purchase agreement

GMR Infrastructure’s indirect subsidiary — GMR Hyderabad International Airport (GHIAL) has entered into a definitive Share Purchase Agreement for acquiring the entire equity and preference shares held by Menzies Aviation Cargo (Hyderabad), Mauritius in Hyderabad Menzies Air Cargo (HMACPL) at a total consideration of Rs 59.75 crore. Post-acquisition of the ... Read More »

Mahindra Logistics acquires 5.06% stake in Lords Freight

Mahindra Logistics has completed the purchase of 119,610 (5.06%) equity shares of Lords Freight (India) (Lords), Subsidiary company from its existing Shareholder, resulting an increase in the company’s stake in Lords from 68.69% (pre-acquisition) to 73.75% (post-acquisition). Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management ... Read More »

Bhushan Steel turns black in Q2

Bhushan Steel has reported results for second quarter ended September 30, 2018. The company has reported net profit at Rs 60.71 crore for the quarter under review as against net loss of Rs 467.37 crore for the same quarter in the previous year. Total income of the company increased by ... Read More »

SSWL bags new export order for steel wheels

Steel Strips Wheels (SSWL) has bagged new Exports orders for Steel wheels for EU Caravan market. The order comprises of over 300,000 Wheels, mix of 13” and 14”, to be shipped from its Chennai plant over next 6 months with a total value close to Euro 2 million. Further, additional ... Read More »

ITC to enter into Paneer, Milkshakes segments

ITC has decided to enhance its dairy portfolio by entering the Paneer and Milkshakes segments within two months. The company has launched milk and curd for the Kolkata market. Earlier, the company had earlier forayed into the dairy segment with the launch of milk and ghee in select markets. ITC ... Read More »

Prime Focus to sell 100% stake of Gener8 India Media Services

Prime Focus has received an approval to sell 100% equity shares by the company of its wholly owned subsidiary, Gener8 India Media Services, to DNEG Creative Services, a subsidiary of the company. The Board of Directors of the company at their meeting held on October 30, 2018, approved the same. ... Read More »

Tata Motors starts production of SUV Harrier

Tata Motors has started the production of its upcoming SUV Harrier that will launch in the market early next year. The first unit of Harrier was rolled out from the company’s manufacturing unit at Pune. The new assembly line at the Pune unit has been built in a record time ... Read More »

Kirloskar Oil Engines’ arm gets registered as NBFC

Kirloskar Oil Engines’ wholly owned subsidiary — Kirloskar Capital has received a Certificate of Registration (CoR) dated October 29, 2018 under Section 45 (IA) of Reserve Bank of India Act, 1934 to carry on the business of a Non-Banking Financial Institution (without accepting public deposits) from Reserve Bank of India ... Read More »

Kridhan Infra’s arm bags two new orders worth $24.63 million

Kridhan Infra’s Singapore-based 100% subsidiary — KH Foges has been awarded two new orders in Singapore worth $24.63 million. KH Foges has been contracted to execute Piling Works for a seven-storey distribution centre in Singapore. This order is worth $19.85 million and is to be completed within 5 months. Additionally, ... Read More »

Bank of Baroda reports 20% rise in Q2 net profit

Bank of Baroda has reported results for second quarter ended September 30, 2018. The Bank has reported 19.70% rise in its net profit at Rs 425.38 crore for the quarter under review as compared to Rs 355.36 crore for the same quarter in the previous year. Total income of the ... Read More »

Sasken Technologies joins Enterprise Ethereum Alliance

Sasken Technologies has joined the Enterprise Ethereum Alliance (EEA), the world’s largest open source Blockchain initiative. Sasken has been working on Ethereum to develop solutions and accelerators for several industry use cases such as revenue-sharing solution for multimodal public transportation system, enhancing security of IoT edge network, and asset registry ... Read More »