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Disclosure lapses: Sebi bars Urja Global, four individuals from securities mkt for 2 years

Sebi has barred Urja Global and four individuals from the securities market for various disclosure lapses and also directed the firm to obtain a practising company secretary's certificate of authenticity for corporate announcements to be made in the next three years. The directions are part of a 56-page order passed by the watchdog on Friday [...]

Paytm to file for new license, says bullish about its roadmap for general insurance

Digital payments and financial services company Paytm has said that it will seek a new general insurance license with a fresh application, aimed at gaining majority shareholding with a 74 per cent upfront equity stake. In a regulatory filing, Paytm reiterated its intention to make inroads in the general insurance sector, as it is extremely [...]

Honasa Consumer acquires majority stake in skincare brand Dr. Sheth’s

Honasa Consumer Pvt Ltd (HCPL), the company which owns new age FMCG brands such as Mamaearth and The Derma Co, on Monday said it has acquired a majority stake in skincare brand Dr. Sheth's at a valuation of Rs 28 crore. Its product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and [...]

BEL to manufacture battery packs for Triton electric trucks

The Pune unit of Navratna Defence PSU Bharat Electronics Limited (BEL) will manufacture Li-ion battery packs for the electric trucks of US-based Triton, as part of an MoU signed between the two companies. The agreement was inked to explore manufacturing of battery cells in India for energy storage systems and electric vehicles in the heavy [...]

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Reducing Automotive Air Pollution with Advanced European Emission Control Technology for India

ALCOR CB M&A closes a JV transaction between European Company Autometal and Dewas Hydoquip India to bring in the “State of the Art” Technology for Emission Control Systems to India and Asian Markets. Autometal, a European company is bringing in the latest technology for emission control by partnering with an Indian company Dewas Hydroquip from [...]

Debt Mutual Funds see Rs 1.2 lakh cr outflow in March qtr

Mutual funds focused on investing in fixed-income securities saw an outflow of Rs 1.2 crore in the March 2022 quarter on massive withdrawal from segments, such as liquid, short duration, and corporate bond funds, a report by Morningstar India said on Monday. This has taken the net outflow from the category to Rs 68,471 crore [...]

Premas Biotech Announces Appointment of Saumen Chakraborty to Board of Directors

Gurugram, Haryana, India – Business Wire India Premas Biotech today announced the appointment of Saumen Chakraborty to the Premas Biotech Board of Directors, effective April 29 2022. “We are pleased to welcome Saumen Chakraborty to the Premas Biotech Board,” said Mr Avijit Das, Founder Chairman, Premas Biotech. “Saumen’s deep experience in global Pharma businesses with [...]

Blocktickets, NFT and Blockchain Ticketing Platform Enters Indian Market

Blockchain, cryptocurrency, and Non-fungible Tokens (NFTs) have captivated everyone in the last few years. Blocktickets, a company working in the space of blockchain, and transformative technology has launched a multi chain NFT based ticketing platform rewarding all stakeholders, a one of its kind platform. Blocktickets has now entered the Indian market and is looking to [...]

Mylab appoints Rajesh Patel as executive director IVD biz

Biotech company Mylab Discovery Solutions on Monday said it has appointed Rajesh Patel as the Executive Director of the in-vitro diagnostics (IVD) business. In this role, Patel will be responsible for spearheading the IVD testing equipment and reagent business at Mylab by setting up production units, overseeing the related research and development and the launch [...]

NCLT orders insolvency proceedings against Birla Tyres

The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Birla Tyres Ltd in a case filed by multi-business chemicals firm SRF Ltd, an operational creditor of the BK Birla group firm. A two-member Kolkata bench of the NCLT has also appointed Seikh Abdul Salam as Interim Resolution Professional (IRP) to [...]

Abbott launches solution to detect Hepatitis B virus

Healthcare major Abbott on Monday said it has launched a test that will help in early detection of Hepatitis B virus (HBV) in human serum and plasma samples. The company has introduced HBsAg Next Qualitative solution to help improve patient outcomes while maintaining safe blood supplies. This highly sensitive chemiluminescent microparticle immuno assay (CMIA) assists [...]

Etsy inks pact with NEHHDC to support small, traditional artisans from North East

Etsy, which positions itself as global marketplace for 'unique and creative' goods, has partnered with the North Eastern Handicrafts and Handloom Development Corporation (NEHHDC) to support small sellers, weavers and artisans, with market access and enablement support. Under the memorandum of understanding (MoU), Etsy will work with the NEHHDC to develop enablement programmes specifically tailored [...]

Yatra sees 90% pre-Covid level hotel bookings

Online travel services provider Yatra on Monday said it has reached 90 per cent of pre-Covid level hotel bookings and the upswing continues with the return of travel normalcy following relaxation of pandemic-related restrictions and the recent restarting of scheduled international flights after two years. The arrival of the summer travel season coupled with the [...]

UPL settles case with Sebi; pays Rs 19.5 lakh

UPL Ltd has settled with the capital markets regulator Sebi a case pertaining to alleged failure to modify the terms of appointment of the auditor of its subsidiary. The company settled the proceedings initiated against it after paying Rs 19.5 lakh towards settlement charges. "The instant adjudication proceedings initiated against the noticee (UPL) vide SCN [...]

SLK Software names Ajay Kumar as CEO

Technology services provider SLK Software, on Monday announced the appointment of Ajay Kumar as its Chief Executive Officer. Kumar previously held the role of President and Chief Business Officer at SLK Software, the company said in a statement. An alumnus of IIM Bangalore, he brings two decades of experience in leading P&L (profit and loss) [...]

Adani Airport Holdings raises USD 250 mn

Adani Airport Holdings Ltd (AAHL) on Monday said it has raised USD 250 million through a 3-year ECB facility from a consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC. The facility has an option to raise additional USD 200 million. The freshly raised capital will be used for capital expenditure and development of [...]

SJVN wins most efficient and profitable miniratna of the year award

New Delhi, May 8 (PTI) State-owned SJVN Ltd, which is mulling Rs 1.8 lakh crore investment in next decade, has bagged the 'Most Efficient & Profitable Miniratna of the Year' award. Dalal Street Investment Journal (DSIJ) has conferred the award to SJVN for playing a crucial role in economic growth of the nation, a statement [...]

Pushp Kumar Joshi takes over as CMD of HPCL

New Delhi, May 8 (PTI) Pushp Kumar Joshi on Sunday took over as the new chairman and managing director of India's third largest oil refining and fuel marketing company Hindustan Petroleum Corporation Ltd (HPCL). "Prior to this Dr Joshi was Director-HR of the Corporation from August 01, 2012," the company said in a statement. Joshi, [...]

Poonawalla woos Musk to invest in making Tesla cars in India

New Delhi, May 8 (PTI) Serum Institute of India (SII) CEO Adar Poonawalla on Sunday wooed Elon Musk to invest in India to manufacture Tesla electric cars, saying it will be the best investment he would have ever made. Musk, who has made a successful USD 44 billion acquisition bid for Twitter, had in the [...]

Tata steel to grow organically, new acquisitions unlikely this decade: MD

Kolkata, May 7 (PTI) Tata Steel Ltd will look to grow organically, and the steel giant is under “no pressure” to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said. Narendran said that the Jamshedpur-based behemoth will fuel its growth ambitions to more than double its output, [...]

Reliance Q4 net up 22.5 pc; 1st Indian co to cross USD 100 bn annual revenue

New Delhi, May 6 (PTI) Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit [...]

Eye on bigger deals, L&T decides to merge L&T Infotech and Mindtree

Mumbai, May 6 (PTI) Aiming at bigger deals from clients looking for digital services, L&T Group on Friday announced a merger of L&T Infotech and Mindtree, which will create the country's sixth largest information technology company with combined revenue of USD 3.5 billion. The engineering, projects and construction major, which already owns a majority stake [...]

Dr. Lakshmi Venu Takes Over as Managing Director of Sundaram-Clayton Limited

Chennai, Tamil Nadu, India (NewsVoir) Dr. Lakshmi Venu has taken over as the Managing Director of Sundaram-Clayton Limited (SCL), one of India’s leading auto components manufacturer at the board meeting held today. Dr.Venu was the Joint Managing Director of Sundaram-Clayton. Dr. Lakshmi Venu has been leading Sundaram-Clayton from the forefront with aplomb for over a [...]

Azure Power Announces Appointment of New Chief Executive Officer

NEW DELHI, May 6, 2022 /PRNewswire/ -- Azure Power Global Limited (NYSE: AZRE) ("Azure" or "the Company"), a leading independent sustainable energy solutions provider and renewable power producer in India, today announced that Mr. Harsh Shah will be joining as the Chief Executive Officer, effective July 1, 2022. Mr. Shah was previously the Chief Executive [...]

Sundaram-Clayton elevates Lakshmi Venu as MD

New Delhi, May 6 (PTI) Auto components major Sundaram-Clayton Ltd on Friday announced the elevation of Lakshmi Venu as its Managing Director. Venu, who was the Joint Managing Director, has been leading the company for over a decade now. She has been the lead architect in establishing Sundaram Clayton's global footprint, the company said in [...]

Centre should compensate states for importing coal: AIPEF

New Delhi, May 6 (PTI) The All India Power Engineers Federation (AIPEF) has urged the central government to compensate states for importing coal in the absence of adequate dry fuel for thermal plants. "AIPEF has demanded that the Centre compensate each and every state that is being forced to import coal in absence of adequate [...]

Sundaram-Clayton elevates Lakshmi Venu as Managing Director

Chennai, May 6 (PTI) Auto component manufacturer Sundaram-Clayton Ltd has elevated Lakshmi Venu as its Managing Director with immediate effect, the company said on Friday. Prior taking up the new role, Venu was serving the city-based TVS Group firm as its joint managing director. Venu, daughter of TVS Group Chairman-Emeritus, Venu Srinivasan has been leading [...]

Axis AMC conducting suo moto probe; suspends 2 fund managers

Facing allegations of front running and a reported regulatory probe, Axis Asset Management on Friday said it has been suo moto investigating the case since February and has suspended two fund managers pending completion of the investigation. Further, the asset management company has used external advisors to aid the investigation, Axis AMC said in a [...]

Lupin receives USFDA approval to market generic Pregabalin capsules

New Delhi, May 6 (PTI) Pharma major Lupin Ltd on Friday said it has received approval from the US health regulator to market its generic version of Pregabalin capsules used for the treatment of pain caused by nerve damage due to diabetes or shingles infection.The approval granted by the US Food and Drug Administration (FDA) [...]

Sudarshan Venu Elevated as Managing Director of TVS Motor Company

Chennai, Tamil Nadu, India – Business Wire India TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced at its board meeting today the elevation of Sudarshan Venu as Managing Director of the Company, effective today. Sudarshan has been charting the future of one of India’s leading two-wheeler manufacturer and has made it [...]

Redcliffe Lifetech raises USD 61 mn from investors

New Delhi, May 6 (PTI) Leading diagnostics platform Redcliffe Lifetech on Friday said it has raised USD 61 million (around Rs 466 crore) in a funding round led by LeapFrog Investments. Healthquad, Schroders, LC Nueva, Growth Spark Ventures and existing investors Chiratae Ventures and Alkemi Venture Partners also participated in the funding round. The investment [...]

Vedantu lays off 200 employees

Edtech firm Vedantu has laid off 200 employees as it did not find them in sync with the company's growth expectation. When contacted, the company spokesperson confirmed the development and said the firm is also hiring over 1,000 new people. "We have over 6,000 employees out of which 120 contractors and 80 full-time or 3.5 [...]

ABB India Chairman Morten Wierod resigns

New Delhi, May 5 (PTI) Engineering firm ABB India on Thursday said its Chairman Morten Wierod has resigned."Morten Wierod vide letter dated May 5, 2022, has tendered his resignation from the position of Chairman and Non-executive & Non-independent Director of the Company, effective closure of business hours of May 5, 2022," a BSE filing said.The [...]

Wipro, HFCL join hands to develop 5G product portfolio

New Delhi, May 5 (PTI) IT company Wipro Limited and domestic telecom gear maker HFCL have entered into a partnership to jointly develop 5G product portfolio, mainly the routers required to connect mobile sites with the core network of telecom operators. The companies will collaborate on a portfolio of 5G products for the telecommunications sector, [...]

Alkesh Kumar takes charge as new IT Secretary

New Delhi, May 5 (PTI) Alkesh Kumar Sharma has assumed charge as new Secretary for the Ministry of Electronics and Information Technology, an official release said on Thursday.Sharma, an Indian Administrative Services Officer of the 1990 batch from Kerala cadre, has earlier served as additional secretary and secretary in the Cabinet Secretariat.In addition to other [...]

Sudarshan Venu Elevated as Managing Director of TVS Motor Company

Chennai, Tamil Nadu, India (NewsVoir) TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced at its board meeting today the elevation of Sudarshan Venu as Managing Director of the Company, effective today. Sudarshan has been charting the future of one of India’s leading two-wheeler manufacturer and has made it the most awarded [...]

TVS Motor elevates Sudarshan Venu as Managing Director

New Delhi, May 5 (PTI) TVS Motor Company on Thursday said it has elevated Sudarshan Venu as Managing Director with immediate effect. Venu, 33, has been charting the future of the two-wheeler manufacturer and has played a pivotal role in the company's growth in domestic and key international markets, including Asia, Africa, and more recently [...]

Flipspaces acquires architect and interior design platform Renomania

New Delhi, May 5 (PTI) Startup Flipspaces, which is into interior design, has acquired Renomania, a platform for end customers to comprehensively discover and engage with architects, interior designers and brands.The acquisition is a 100 per cent sale of the platform’s assets, database and all technology and related intellectual property (IP), Flipspaces said in a [...]

Mahindra ties up with J&K Bank for tractor, farm equipment loans

New Delhi, May 5 (PTI) Mahindra & Mahindra (M&M) on Thursday said it has tied up with Jammu & Kashmir Bank to offer loans for tractors and farm machinery.Farm Equipment Sector (FES), a part of Mahindra Group, has inked an MoU with the lender in this regard.As part of the partnership, J&K Bank will provide [...]

Dhampur Sugar Mills designate Ashok Kumar Goel as Chairman

New Delhi, May 5 (PTI) Dhampur Sugar Mills Ltd on Thursday said that Ashok Kumar Goel has been designated as its Chairman. "Ashok Kumar Goel, Promoter (Executive) Director of the company has been designated as Chairman of the company with effect from May 4, 2022 consequent upon resignation of Vijay Kumar Goel as Chairman and [...]

ABB India’s PAT More Than Doubles to INR 370 Crores Year-on-Year in Q1 CY2022

Solid performance in an uncertain environment Bengaluru, Karnataka, India – Business Wire India Q1 2022 HIGHLIGHTS • Strong growth in orders (26%) and revenue (21%) • Emerging sectors & core sector recovery create momentum • Capacity utilization & operation efficiencies yield traction in profit • Published the first Business Responsibility and Sustainability Report (BRSR) 2021 [...]

FREED raises USD 2.8 mn in funding round led by Inflection Point Ventures

New Delhi, May 5 (PTI) Consumer debt relief platform FREED has raised USD 2.8 million in a funding round led by Inflection Point Ventures. The round saw participation from Multiply Ventures, Chandigarh Angels Network, Lead Angels, Hyderabad Angels, The Chennai Angels, and a clutch of high networth individuals, according to a statement. The funds will [...]

Tata Motors unveils Ace EV; receives orders for 39,000 units

Homegrown auto major Tata Motors on Thursday unveiled the electric version of its popular mini truck, Ace, as it continues the drive for electrification of its portfolio. The company has also signed pacts with leading e-commerce players such as Amazon, BigBasket, City Link, DOT, Flipkart, LetsTransport, MoEVing and Yelo EV, to supply the Ace EV [...]

Sona Comstar partners with US-based C-Motive Technologies to develop electrostatic drive motors

New Delhi, May 5 (PTI) Auto components major Sona Comstar on Thursday said it has partnered with US-based start-up C-Motive Technologies to develop electrostatic drive motors for electric vehicle applications. The serial production of the electrostatic drive motors is expected to start in 2026, the company said in a statement. Under the partnership, Sona Comstar [...]

SBI mulls raising up to USD 2 billion via bonds

The country's largest lender SBI on Wednesday said it's board will meet next week to consider raising up to USD 2 billion through a public issue of bonds or other means. "We advise that the executive committee of the central board is scheduled to have a meeting on May 10, 2022 to examine the status [...]

Tata Technologies, industry partners to set up common facility in EV domain

Global engineering and product development digital services firm Tata Technologies along with global industry partners and Lamrin Tech Skills University will set up a common facility in the electric vehicle domain, said a government statement on Wednesday. It will cater to developing skills needed in the field of electric vehicle segment.         A delegation of Tata [...]

Repo rate hike to put brakes on auto industry growth: FADA

New Delhi, May 4 (PTI) Automobile dealers' body FADA on Wednesday said the increase in repo rate will "apply certain amount of brakes" on the industry's growth, especially the two-wheeler segment which is already reeling under a severe slowdown. Home, auto and other loan EMIs are likely to go up after the Reserve Bank of [...]

Tata Steel to install EAF facilities in north, south and west India

Kolkata, May 4 (PTI) Tata Steel will achieve its target to double its capacity to produce 40 million tonne steel by 2030 and will install its Electric Arc Furnaces (EAF) in north, south and west India that will use scrap as an environmentally friendly step, a top company official said. Electric Arc Furnaces use recycled [...]

ASBA-designated bank branches to remain open on Sunday for LIC IPO: Reserve Bank

Mumbai, May 4 (PTI) Reserve Bank of India (RBI) has said that all ASBA-designated bank branches will remain open for public on Sunday to facilitate processing of applications for LIC's initial public offering. State-owned LIC's Initial Public Offering (IPO), the country's biggest ever offer, opened for subscription by retail and institutional investors on Wednesday. The [...]

Shriram City Union Finance to raise up to Rs 750 crore

New Delhi, May 4 (PTI) Shriram City Union Finance on Wednesday said it is planning to raise up to Rs 750 crore by issuing bonds on a private placement basis. The banking and securities management committee of the company on Wednesday approved the issue of secured, rated, listed, redeemable, principal-protected and market-linked non-convertible debentures for [...]

Coal Ministry to hold investors’ meet on Friday

New Delhi, May 4 (PTI) The coal ministry will hold a high-level Investors' Meet on Friday in a bid to attract investments from the private sector. Coal Minister Pralhad Joshi will launch the event to be held in Mumbai. "Joshi will be launching a high level Investors’ Meet in Mumbai on 6th May, 2022 focussing [...]

Future Consumer independent director Adhiraj Harish resigns

New Delhi, May 4 (PTI) Future Consumer Ltd on Wednesday said its independent director Adhiraj Harish has resigned from the board of the company. "Adhiraj Harish has resigned from the position of an Independent Director from Board of Directors of the Company with effect from May 3, 2022," the Future Group firm said in a [...]

Pfizer sets up Asia’s first global drug development centre in Chennai

Chennai, May 4 (PTI) US pharmaceutical company Pfizer has set up its global drug development centre at the Indian Institute of Technology-Madras Research Park here, at an outlay of over Rs 150 crore. The centre, which employs 250 scientists and technicians, would develop innovative formulations, small molecules and active pharmaceutical ingredients (APIs). According to company, [...]

Pernod Ricard Announces the Appointment of Richa Singh as CFO, Pernod Ricard South Asia and India

Mumbai, Maharashtra, India (NewsVoir) Pernod Ricard India (PRI), a global leader in the wine and spirit industry, today announced the appointment of Richa Singh, as Chief Financial Officer (CFO), Pernod Ricard South Asia and India. Joining the leadership team, Richa Singh will report directly to Thibault Cuny, Managing Director & CEO Pernod Ricard South Asia [...]

UPL acquires new naturally-derived fungicide

Mumbai, May 4 (PTI) Agro-chemicals major UPL on Wednesday said it has acquired a naturally-derived fungicide, OptiCHOS, for its natural plant protection (NPP) business unit. The NPP portfolio houses natural and biologically derived agricultural inputs and technologies, UPL said in a BSE filing. The active ingredients of OptiCHOS were developed from the chitin-rich by-products of [...]

Bengaluru-based deep tech startup SatSure acquires Farm Management software CropTrails to aid its Global Expansion plans

• SatSure acquires farm management software CropTrails • It will help SatSure expand and strengthen its international market reach into its target geographies in Africa, LATAM and SEA BENGALURU, India, May 4, 2022 /PRNewswire/ -- SatSure, a deep tech startup working at the intersection of spacetech, Artificial Intelligence (AI), and Software as a Service (SaaS) [...]

Samsung forays into vacuum cleaner segment

New Delhi, May 4 (PTI) Consumer electronics maker Samsung has forayed into the vacuum cleaner segment in India, expanding into the home cleaning solutions business. Samsung has launched a line-up of Jet cordless stick vacuum cleaners that can generate up to 200 watts of suction power and are lightweight and ergonomically designed, said a company [...]

Gland Pharma launches generic cancer treatment drug in US

New Delhi, May 4 (PTI) Gland Pharma on Wednesday said it has launched cancer treatment drug Bortezomib for Injection in the US market. The company has launched the product in the US market through its partner which received the approval from the US Food & Drug Administration (USFDA), the drug firm said in a statement. [...]

Mahindra Electric joins hands with Terrago Logistics

New Delhi, May 4 (PTI) Mahindra Electric Mobility on Wednesday said it has tied up with the city-based startup Terrago Logistics. Terrago currently has a fleet of 65 Mahindra Treo Zor cargo vehicles deployed with online grocery major Big Basket in three cities and leading logistics major, Porter. In the coming months, Mahindra Electric will [...]

Tata Technologies evinces interest in setting up EV production centre in Punjab

Global engineering and product development digital services firm Tata Technologies has shown interest in setting up an electric vehicle production centre in Punjab, a state government release said on Wednesday. A delegation of Tata technologies called on Punjab Chief Minister Bhagwant Mann on Wednesday here at his official residence, said the release. During deliberations, the delegation [...]

Aurobindo Pharma gets USFDA nod to market generic cancer drug

New Delhi, May 4 (PTI) Drug major Aurobindo Pharma on Wednesday said its wholly-owned subsidiary has received approval from the US health regulator to market anti-cancer medication Bortezomib for injection.Eugia Pharma Specialties has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market the product, a generic equivalent of Takeda [...]

Tata Power Renewables commissions 120 MW solar project in Gujarat

New Delhi, May 4 (PTI) Tata Power Renewable Energy has commissioned a 120 MW solar project in Masenka, Gujarat. Tata Power Renewable Energy Limited (TPREL), a 100 per cent subsidiary of Tata Power, has commissioned the solar project, which will produce 305247 MWh annually for Gujarat Government (GUVNL), a company statement said. In the installation, [...]

Eveready Industries shareholders approve appointment of Suvamoy Saha as MD

New Delhi, May 4 (PTI) Batteries and flashlights maker Eveready Industries India Ltd on Wednesday said its shareholders have approved the appointment of Suvamoy Saha as its Managing Director for a period of three years.Saha, erswhile Joint Managing Director of the company, was asked to assume the responsibilities as interim Managing Director after the resignations [...]

Eris Lifesciences acquires Oaknet Healthcare for Rs 650 cr

New Delhi, May 4 (PTI) Eris Lifesciences on Wednesday said it has acquired Mumbai-based dermatology-focused domestic formulations company Oaknet Healthcare for Rs 650 crore. The acquisition will be completed by way of a share purchase agreement and accordingly Oaknet will become a wholly-owned subsidiary of Eris, the drug firm said in a statement. The deal [...]

Tata Steel to complete NINL acquisition in current quarter: CEO

New Delhi, May 3 (PTI) Tata Steel will complete the acquisition of Neelachal Ispat Nigam Limited (NINL) by the end of the current quarter, its CEO and MD T V Narendran said on Tuesday. The acquisition of NINL is critical for Tata Steel to build a dedicated long products complex. On January 31, Tata Steel [...]

Newgen Software Q4 profit up 9 pc at Rs 57 cr

New Delhi, May 3 (PTI) Newgen Software on Tuesday reported 8.8 per cent increase in consolidated net profit at Rs 57.4 crore for the fourth quarter ended March 31, 2022. The company had logged a net profit of Rs 52.73 crore in the same period a year ago. Revenue from operations increased 15.7 per cent [...]

Adani Wilmar buys several brands, including ‘Kohinoor’ to strengthen food biz

Adani Wilmar Ltd (AWL) on Tuesday announced the acquisition of several brands, including the renowned 'Kohinoor' brand from McCormick Switzerland GMBH to strengthen its leadership in food business. The deal size was not disclosed. The acquisition would give AWL exclusive rights over the brand 'Kohinoor' basmati rice along with 'Ready to Cook', 'Ready to Eat' [...]

Britannia to take calibrated price hikes to manage profitability, says MD

New Delhi, May 2 (PTI) Leading food company Britannia Industries on Monday said it has judiciously increased prices in the January-March quarter on account of cost inflation and would further take such calibrated price hikes to retain its profitability. The Wadia group firm has "continued to take price increases judiciously and remained aggressive on the [...]

Route Mobile to buy Teledgers’ blockchain, DLT platform for about Rs 130 cr

New Delhi, May 2 (PTI) Enterprise communications service provider Route Mobile will acquire the artificial intelligence-based blockchain and DLT platform of Teledgers Technology for over Rs 130 crore, according to a regulatory filing. Under the agreement, Route Mobile subsidiary Route Ledger will pay Rs 4.9 crore as advance to Teledgers within 30 business days of [...]

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