Gravita India Limited, a fast-growing Indian company in the area of recycling, said it has almost quadrupled the capacity of its lead recycling plant at Chittoor in Andhra Pradesh. With this, the company expects to increase its revenue by around Rs 150 cr per year. At the current run rate, that works out to around […]
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 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 — […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, 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, 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 […]
JSW Steel USA Ohio Inc, a US subsidiary of JSW Steel, has signed a long-term agreement with local steel producer Allegheny Technologies Inc. to convert JSW’s locally produced carbon steel slabs into hot rolled coils. The agreement will help diversify JSW’s steel offerings in the US, while also generating revenue for Allegheny Technologies and improving […]
The closure of Vedanta Ltd’s Tuticorin copper smelter in May 2018 has turned India into a net importer of refined copper, according to newly released government data. While India was a net exporter of refined copper to the extent of 3.34 lakh tonnes in the year ended March 2018 (prior to the shut down); the […]
Outsourced services provider Infosys today bagged a major client in the form of ArcelorMittal, the world’s leading steel and mining company. ArcelorMittal is a Luxembourgish multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel and is the world’s largest steel […]
Vi Business, the enterprise arm of Vodafone Idea Ltd. (VIL), said it has taken a crucial step towards turning itself into a techco from being a telco for its enterprise customers. It has become only telecom company in India to offer a secure end-to-end IoT solution offering that comprises connectivity, hardware, network, application, analytics, security […]
HAL or Hindustan Aeronautics Ltd, a government-owned aircraft maker, reported a 6% growth in its revenue for the current year despite a one-month shut-down related to the COVID-19 pandemic. The Bangalore-based company reported provisional revenue of Rs 22,700 crores for the year ending today, up from Rs 21,438 crores for the year ended March 2020. […]
Third-quarter results from textiles and garments maker Arvind Ltd indicated that the economic recovery from the COVID-19 pandemic has been far from uniform across all sectors of industry. While certain segments, such as two-wheelers and electrical equipment, have bounced back or even exceeded their pre-COVID levels, there are still others like textiles, retail and hospitality […]
India-based Dixon Technologies, one of the world’s largest contract electronics manufacturers, said it is in the final stages of operationalizing a deal with Chinese electronics maker Lenovo that will enable it to start export smartphones in coming months. This will mark the quickest move to exports for any category for Dixon Electronics. At present, the […]
In a sign of consumer spending having normalized — at least for small ticket items, Relaxo Footwears posted results for October-December that were even better than those of the same period in 2019. Revenue rose 12%, or Rs 72 cr, on year to Rs 672 cr, while net profit was up Rs 44 cr, or […]
After several quarters, Polycab India Ltd reported a set of financial results that were decidedly less rosy than those of its primary rival Havells India Ltd. Two days after Havells reported a 39% year-on-year jump in revenue to Rs 3,175 cr, Polycab said its third-quarter revenue rose 12% on year to Rs 2,799 cr. While […]
