Hitachi Energy India Ltd on Wednesday said it has inaugurated a transformer component manufacturing factory in Vadodara, Gujarat. Located at the company's largest plant in the country, this factory will produce dry bushings using the most reliable technology called 'resin-impregnated paper', Hitachi Energy India said in a statement. This will be the country's first facility [...]
The Tirupur Exporters Association (TEA) on Wednesday requested public sector State Bank India (SBI) to help MSMEs tide over the liquidity crisis, as the knitwear sector is passing through a difficult situation due to an unprecedented surge in cotton prices that have more than doubled. The subsequent hike in yarn prices have also doubled compared [...]
Global contract logistics services provider DHL Supply Chain on Wednesday said it has expanded its India fulfilment network (IFN) to three new cities including Delhi and Mumbai and has invested Rs 25 crore in capacity building through such facilities. The company had launched its first fulfilment network in Bengaluru in September last year. IFN is [...]
New Delhi, May 11 (PTI) Electric mobility player MoEVing on Wednesday said it has raised USD 5 million (nearly Rs 40 crore) through a mix of equity and debt capital. The investors included BeyondTeq, a UAE-based venture capital firm, GCC family offices, Stride One, TradeCred and N+1 Capital, among others, the company said in a [...]
The Arunachal Pradesh government on Wednesday signed a memorandum of understanding (MoU) with Creduce and Hydel Consultants Private Limited (HCPL) for cultivation and development of bamboo resources in the state. This is the world’s largest bamboo cultivation drive by a public-private partnership, an official claimed. The agreement encompasses the plantation of 100,000 hectares of forest [...]
Jaipur-based electric vehicle maker HOP Electric Mobility on Wednesday said it has raised USD 2.6 million (about Rs 20 crore) in a funding round to drive its business expansion plans. The fresh funding round is part of the ongoing USD-10-million pre-series fundraising, it said without disclosing the investor's identity. "Hop Electric Mobility has closed a [...]
Alembic Pharmaceuticals Ltd on Wednesday said it has received final approval from the US health regulator for its generic version of Arformoterol Tartrate inhalation solution indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease. The approval by the US Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) [...]
Supply chain company Delhivery on Tuesday raised Rs 2,347 crore from anchor investors, ahead of its initial share-sale, which opens for public subscription on Wednesday The company has decided to allocate a total of 4,81,87,860 equity shares to anchor investors at Rs 487 apiece, which is also the upper end of the price band, aggregating [...]
Merrill Lynch India Equities Fund Mauritius Ltd on Tuesday sold 4.80 lakh shares of private lender ICICI Bank worth Rs 34 crore through an open market transaction. According to block deal data available with the BSE, Merrill Lynch sold 4,80,440 shares at an average price of Rs 714.65 apiece, taking the transaction size to Rs [...]
The National Company Law Appellate Tribunal (NCLAT) has directed Jet Airways, which is preparing to resume flight services in the coming months, to vacate its office from the premises of Mack Star Marketing in Mumbai. While passing an order on May 6, a three-member bench of the NCLAT also said that no monthly fees shall [...]
