Parag Milk says derivates back to growth, milk vols yet to reach pre-pandemic levels

Parag Milk Foods Ltd, India’s largest dairy-focused consumer goods brand, said sales of some of its key products has reached pre-pandemic levels, but sales of liquid milk are half their regular volume. The company, which was hit by the COVID-19 pandemic both because of logistical disruptions as well as a dip in consumer demand, reported […]

Rising costs dampen Exide’s revenue out-performance

Exide Industries, one of India’s oldest automotive battery companies, reported a strong increase in revenue for the September quarter, but an equally significant jump in the cost of key raw materials prevented any benefit of the higher sales from flowing to the company’s bottom line. The company’s operating revenue jumped Rs 4,758 cr from Rs […]

Havells sees shift to organized players as input prices rise

Havells India, one of the country’s largest electrical equipment makers, said it expects organized players such as itself to benefit as raw material price increases put pressure on unorganized players. The company, a prominent player in the switchgear, wire and lighting segments in India, also said that demand for electrical goods in India is on […]

Ramkrishna Forgings wins Indian Railways order for loco shells

Ramkrishna Forgings, which recently diversified beyond the automobile market to tide over the uncertainties associated with the sector, has won yet another contract from Indian Railways. The company said it won a contract o supply loco shells, the shell or body of locomotive engines or train engines. The value of the contract was not disclosed. […]

After EU, Lincoln Pharma gets Australian approval for plant

India-based Lincoln Pharmaceuticals Ltd said it is looking forward to entering the Australian market, after Australia’s medicines and medical devices regulator – Therapeutic Goods Administration {TGA) – approved the company’s primary manufacturing plant in Khatraj, Gujarat. The approval, said the medicine manufacturer, has been granted for all three sections, tablets, capsules and creams & ointments. […]

Reliance Industries forms trading subsidiary in the UAE

Reliance Industries, India’s most valuable company, has established a subsidiary in the United Arab Emirates. The company said it invested $1 mn to float Reliance International Ltd based in Abu Dhabi Global Market, UAE. The company will engage in trading of crude oil, petroleum products, petrochemicals and agricultural commodities, among others, said the Mukesh Ambani-led […]

Blue Star increases outlay for Sri City plant to Rs 550 cr, eyes Q2 completion

Air conditioning company Blue Star said it began construction work on its Rs 550 cr manufacturing plant in Sri City in Chittoor district of Andhra Pradesh. The plant will likely be included in the production-linked incentive scheme of government of India, under which companies are eligible to get around 5% of their sales as incentives […]

Anupam Rasayan gets Rs 145 cr order from European client

Specialty chemicals maker Anupam Rasayan said it has signed a preliminary, Rs 145 cr supply agreement with an existing European customer “which is one of the top ten multinational company across the globe”. The company did not name the client or the molecule to be supplied, but said the specialty chemical is related to life […]

Post COVID, Raymond cancels demerger of apparels, to monetize real estate

Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]

Dixon Tech, Japan’s Rexxam in electronics components JV

Dixon Technologies, arguably the most successful Indian electronics manufacturer of all times, said it has decided to float a 40:60 joint venture with its customer and Japanese electronic components maker Rexxam to target both Indian and international markets. The two companies have inked a memorandum of understanding and will begin the work of thrashing out […]

Tata Steel Mining & JSL to jointly mine chromite in Odisha

Tata Steel Mining Limited said it signed an agreement with Jindal Stainless to jointly mine the chrome ore lying beneath the boundary between the companies’ mines in Sukinda in Odisha’s Jajpur district. Chromium is used to make shiny metallic items, such as stainless steel vessels and chrome-plated auto parts. The companies said the chromite — […]

HFCL to become 5G supplier, sets up dedicated unit

Telecom equipment and services provider HFCL Ltd said it plans to offer 5G equipment and turnkey services, marking a move up from its roots as a telecom contractor. The company, which has in recent years successfully diversified into manufacturing — particularly of fiber optic cables and terminal devices — said its new 5G network services […]

Indian Army orders more Akash missiles from BDL

Bharat Dynamics Ltd, the prime production agency under India’s Integrated Guided Missile Development Programme (IGMDP), said it received top-up orders worth Rs 499 cr for the supply of Akash missiles to the Indian Army. Bharat Dynamics Ltd had got a mega contract worth for Rs 14,000 cr for Aakash missiles in March 2018. In September […]

Panache Digilife to make laptops under PLI scheme, target WfH

Mumbai-based up-and-coming IT hardware manufacturer Panache Digilife said it intends to manufacture laptops and all-in-one PCs to target the consumer market, under the government of India’s production-linked incentive scheme. The company had qualified for receiving benefits under the PLI scheme last week, along with 13 others including Foxconn, Wistron, Dell, ICT, Dixon Technologies and Lava […]

Desi firms enter race to make Li-ion batteries

Sharda Motor Industries, a New Delhi-based manufacturer of auto parts such as suspensions and catalytic converters, and the Kinetic group of Pune have become two of the rare Indian firms to dare to enter the cut-throat world of lithium-ion battery manufacturing. The supply of Li-ion batteries is currently almost completely controlled by Chinese companies, which […]

Post COVID, Arvind Fashions tests new strategy for online

Branded apparel maker Arvind Fashions, which sells clothes under brands such as Arrow, Tommy Hilfiger, US Polo and Flying Machine in India, is trying a new strategy as far as its online business is concerned, said Director Kulin Lalbhai. While traditionally, garment vendors have looked at e-commerce as a way to get rid of their […]

COVID second-wave impact temporary: Bharat Forge

Baba Kalyani, chairman and managing director of India’s largest forging and metal components manufacturer Bharat Forge, today expressed the opinion that the current economic setback on account of the second wave of COVID-19 is of a temporary nature. “The lock down in India to curtail the spread of Covid has clearly had an impact on […]

Jindal Stainless Q4 vol up 15%; sees strong demand

Jindal Stainless, India’s largest producer of stainless steel and part of the OP Jindal group, reported a strong recovery in its operating and financial performance during the fourth and final quarter of the financial year. For the three months ended March, the company’s sales volumes jumped 15% compared to the same period of last year […]

Blue Star says second wave a challenge, moderates project execution

Blue Star, one of India’s largest refrigeration and air conditioning companies, said it is moderating the pace of execution of large contracts to keep it in sync with clients’ ability to pay, and also said the second wave of the COVID-19 pandemic has posed a challenge to the growth trend seen in recent months. Chief […]