In a move that underscores the aviation industry’s growing focus on sustainable fuel alternatives, Rolls-Royce and Tata Consultancy Services (TCS) have announced a collaboration to research hydrogen fuel system technology for aircraft. The partnership, revealed at the Farnborough International Airshow, aims to address key challenges in developing hydrogen as a viable zero-carbon aviation fuel. Hydrogen […]
Larsen & Toubro (L&T), one of India’s leading engineering and construction conglomerates, has announced a significant new order win from the Oil & Natural Gas Corporation (ONGC). The L&T Energy Hydrocarbon (LTEH) vertical has been awarded a contract for the eighth phase of ONGC’s Pipeline Replacement Project (PRP-VIII Group B) off India’s west coast. The […]
Indian pharmaceutical company Alembic Pharmaceuticals Limited has taken a significant step forward in the U.S. generic drug market. On July 1, 2024, the company announced it had received tentative approval from the U.S. Food and Drug Administration (FDA) for its generic version of Bosutinib tablets in 100 mg and 500 mg strengths. Bosutinib is a […]
Manorama Industries Limited, a global leader in the production of specialty fats and butters, has announced the commencement of commercial operations at its new fractionation plant. This expansion marks a significant milestone for the company, substantially increasing its production capabilities and positioning it for strong growth in the coming years. The state-of-the-art facility, which began […]
In a strategic move to strengthen its market position, Asian Paints Limited has announced a significant expansion of its Mysuru manufacturing facility. The company has doubled the installed capacity of the plant from 300,000 KL per annum to 600,000 KL per annum, investing approximately Rs. 1,305 crores in the process. This expansion comes at a […]
India’s leading IT services companies, TCS, Infosys, and Wipro, are treading cautiously on demand from the US, despite rising optimism about the US driving stock markets there to all time highs. The management teams of these IT giants remain guarded in their portrayal of the situation and demand in their largest market, emphasizing the need […]
India’s leading IT services companies, TCS, Infosys, and Wipro, find themselves at a critical juncture as the rapid rise of generative AI and its potential to disrupt traditional business models casts a shadow over the industry’s future. While the management teams of these IT giants paint a picture of resilience and opportunity in the face […]
The Supreme Industries Limited (Supreme), India’s leading plastics product manufacturing company, announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2024. The company reported impressive growth in sales volume, revenue, and operating profit, despite challenges posed by the global economic slowdown. Financial Highlights: The company’s Board of Directors […]
Recent stock market trends have drawn eerie comparisons to the period leading up to the infamous 1929 crash that triggered the Great Depression. The chart above overlays the S&P 500’s performance from January to October 1929 against its trajectory from January 2023 to February 2024, and the similarities are striking enough to give even the […]
Rising costs of daily items — including that of smartphone data — is impacting the rural customer’s ability to purchase packaged goods such as hair oil and skin creams, analysts from Centrum Broking said after interacting with the management of Emami Ltd, the Indian consumer goods company with the highest exposure to the rural market. […]
Electronic manufacturing major Dixon Technologies announced firm plans to diversify into laptop and tablet manufacturing, eyeing commencement of production in the second half of 2024. The Noida-based company has finalized partnerships with global brands including Lenovo and Asus for local assembly of their laptop models in India. “The new contracts for notebooks, laptops that we […]
Noida-based Dixon Technologies, one of the leading domestic contract manufacturers, expressed strong confidence in quadrupling its business over the next 4-5 years, indicating an expected growth rate of 35-40% annually. During the company’s Q3FY24 earnings call, Managing Director Atul Lall responded to a question on how Dixon views the future growth potential with its strengthened […]
Paytm Payments Bank Ltd (PPBL) has reconstituted its board of directors by appointing four new independent directors, days after regulatory action by the Reserve Bank of India (RBI). The new appointments come weeks after the RBI barred PPBL from onboarding new customers and directed it to stop taking fresh deposits from existing customers over violations […]
As Kolkata-based retailer Spencer’s Retail charts its recovery, the company has turned its attention to aggressively expanding its presence in select regional strongholds. After rationalizing its pan-India store network over the past few quarters, Spencer’s has now outlined detailed plans to zone in on three key geographical clusters for growth – Eastern UP, West Bengal, […]
India is again seeing an outbreak of farmer protests over demands for minimum support prices for farmers. Many economists and experts have called MSPs an outdated mechanism to provide pricing and income support to farmers and protect them from sharp fluctuations in the market. We examine the experiences and lessons learnt by other countries that […]
Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) reported a significant decline in profitability margins during the latest December 2023 quarter due to industry-wide disruption stemming from a change in government policy. The company’s operating margins crashed to 6-7% in the first 9 months of financial year 2023-24, down from 18% in the same period […]
Mumbai-based Flair Writing Industries Limited (FWIL), one of the leading players in the writing instruments industry, reported a muted third quarter, blaming disruptions in some of its export markets for the decline in revenue and profit. For the third quarter ended December, the company posted consolidated revenues of Rs. 225 crores, down 3% year-on-year. Net […]
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today reported strong financial results for the third quarter ended December 31, 2023. Hero MotoCorp has been recovering well after pandemic-related disruptions. After decline in sales in 2020 and 2021 due to COVID-19, the company witnessed recovery in 2022 selling over 50 lakh units. Healthy […]
IT solutions provider Black Box Limited announced robust growth in profitability during the Oct-Dec quarter on the back of higher efficiencies. In Q3 FY2024, revenue was flat at Rs 1,655 crores compared to the same quarter last year amid an overall slowdown in IT. On a quarterly basis, revenue grew by 5%. For the nine […]
Biocon Ltd today announced that the U.S. Food and Drug Administration (USFDA) has issued a Complete Response Letter (CRL) for the company’s Biologics License Application (BLA) seeking approval for its proposed biosimilar bevacizumab. Bevacizumab is an anti-cancer drug used to treat various types of cancers. Biocon has developed a biosimilar version of bevacizumab under the […]
