Smartphone maker vivo on Thursday said it will invest Rs 1,100 crore more by the end of 2023 to scale up its manufacturing capacity in the country, and that production in its upcoming unit at Greater Noida is expected to commence by early 2024. vivo India also said it is "on track" to export more [...]
The Mangalore Catholic Cooperative (MCC) Bank, one of the pioneers of cooperative banks in Karnataka, has recorded a pre-tax profit of Rs 12.20 crore in the 2022-23 financial year. The 111-year-old bank has been progressively reducing the non-performing assets (NPA) and for the first time in recent years, reduced the level to 1.37 per cent, [...]
State-owned Indian Oil Corporation (IOC), Adani-Total Gas Ltd and Shell were among the 29 companies that bid and bought natural gas to be produced from the deepest field in the KG-D6 block of Reliance Industries Ltd and bp, sources said. IOC walked away with almost half of the 6 million standard cubic meters per day [...]
Realty firm Hiranandani Communities will invest Rs 1,000 crore to develop a new housing project in Mumbai to tap rising demand. The company has launched a new housing project -- 'Golden Willow' -- in its mixed-use integrated township 'Hiranandani Fortune City' at Panvel. The company plans to develop 1 million square feet of residential space in [...]
Domestic wholesales of passenger vehicles grew 4.7 per cent in March at 2,92,030 units as compared to the same month last year, Society of Indian Automobile Manufacturers said on Thursday. In March last year, wholesales of passenger vehicles were at 2,79,525 units. Two-wheeler sales clocked 12,90,553 units in the domestic market last month, as compared to [...]
Chemicals maker Anupam Rasayan India Ltd on Thursday said it has signed a Letter of Intent (LoI) worth USD 182 million (Rs 1,500 crore) with one of the leading Japanese multinational to manufacture and supply three high value speciality chemicals. This product will be manufactured in our existing manufacturing facilities. "We are proud to announce [...]
Jindal Steel and Power Ltd (JSPL) will more than double its rail making capacity to 2.2 million tonnes by setting a rail mill at Angul, in Odisha with an annual capacity of 1.2 million tonnes per annum (MTPA). The steel maker owns and operates 1 MTPA rail mill at its Raigarh unit, in Chhattisgarh, where [...]
State-owned power giant NTPC on Wednesday said it has decided to raise Rs 3,000 crore by issuing non-convertible debentures on a private placement basis. "NTPC has decided to issue unsecured non-convertible debentures of Rs 3,000 crore on April 17, 2023, through a private placement at a coupon of 7.35 per cent per annum for a [...]
Lenders of debt-ridden Future Retail Ltd (FRL) has sought an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. The resolution professional of FRL has filed an application before the Mumbai bench of the National Company Law Tribunal (NCLT) "seeking exclusion of a period of 90 days from CIRP [...]
Government head hunter PESB has recommended the appointment of Amrendu Prakash as Chairman, Steel Authority of India Ltd (SAIL). Prakash is the Director in-charge of the steel maker's Bokaro Steel Plant located in Jharkhand. PESB recommended Amrendu Prakash for the post of SAIL Chairman, the Public Enterprises Selection Board said in a notification on Wednesday. [...]
