Welspun Group on Thursday said it has acquired water tank maker Sintex for Rs 1,251 crore to expand its building material portfolio. In a statement, Welspun Group said Sintex has been a household name in India for decades for water tanks and other plastic products. It has a strong distribution network across India. "With its [...]
The country's largest two-wheeler maker Hero MotoCorp on Thursday said it has elevated Niranjan Gupta as the new Chief Executive Officer (CEO). Gupta, currently designated as Chief Financial Officer (CFO), Head - Strategy and M&A, takes over as the CEO with effect from May 1, 2023. The company's board has appointed Gupta as the new [...]
In a boost to the Centre's 'Aatmanirbhar Bharat' initiative, the Ministry of Defence on Thursday inked a Rs 1,700 crore contract with BrahMos Aerospace Private Limited (BAPL) for procurement of next generation maritime mobile coastal batteries and BrahMos missiles. The delivery of these batteries is scheduled to commence from 2027, the ministry said in a [...]
Realty major Emerald Haven Realty Ltd (TVS Emerald) has signed a term sheet agreement with HDFC Capital Affordable Real Estate Fund-3, the city based company said on Wednesday. The two companies have come together to create Rs 1,000 crore platform for plotted development projects across Chennai and Bengaluru markets. TVS Emerald, an associate of TVS [...]
Pharmaceuticals firm Granules India Ltd on Wednesday said it has received approval from the US health regulator for its generic gabapentin tablets indicated for management of postherpetic neuralgia in adults. The approval by the US Food & Drug Administration (USFDA) is for the abbreviated new drug application (ANDA) for Gabapentin tablets of strengths 600 mg [...]
Pilots' bodies at Tata Group-owned Air India have accused the airline management of making unilaterally "rapid" and "regressive" changes in the service conditions of pilots. In a letter to Air India Chief Human Resources Officer Suresh Dutt Tripathi on Tuesday, Indian Pilots Guild (IPG) and Indian Commercial Pilots Association (ICPA) also stated that "all unilateral [...]
The Comptroller and Auditor General (CAG) has pulled up J&K Bank Limited for not utilising the land worth over Rs 140 crore acquired during 2016-21 and recommended a proactive plan for its effective utilisation. It also said the bank's improper planning resulted into blockage of funds to the tune of Rs 22.78 crore and wasteful [...]
Billionaire Gautam Adani-led promoter group has paid off all of the USD 2.15 billion loans taken pledging their shares in the conglomerate, and only debt at operating company level remains, Adani Group said seeking to assure investors of its ability to repay debt. Adani Group in a statement termed reports of the group not completing [...]
Telecom gear maker HFCL on Wednesday said it bagged a Rs 282.61 crore contract from Gujarat Metro Rail Corporation to deploy communication systems for Surat Metro Rail Project Phase-1. The company has to deploy the project within 90 weeks from the date of contract. "..the company has bagged an order worth Rs 282.61 crore from [...]
Pharmaceutical ingredients maker SPC Lifesciences Ltd has filed preliminary papers with the capital market regulator Sebi to raise funds through an initial public offering. The Initial Public Offering (IPO) consists of fresh issuance of equity shares worth Rs 300 crore and an Offer For Sale (OFS) of 89.39 lakh equity shares by promoter -- Snehal [...]
