VA Tech WABAG Ltd, one of India’s leading water treatment companies, bagged orders worth Rs 575 cr to design, build, rehabilitate and operate sewage treatment facilities and associated infrastructure under the Namami Gange programme. Under the project, executed on private-public partnership basis under a hybrid annuity model, WABAG will build sewage and treatment plants over […]
Larsen and Toubro (L&T) said it received a new order from the Oil and Gas Corporation (ONGC) worth between Rs 1,000 crore and Rs 2,500 crore for the development of a marginal field associated with the Mumbai High oil field. Cluster-8 of Mumbai High is located about 210 km to the west of Mumbai city. […]
The government of India today approved a scheme to give incentives to companies that want to manufacture batteries in India. Briefing media after a cabinet meeting, IT minister Ravi Shankar Prasad said: “We have taken a big step to give incentives under the Make in India program to encourage the manufacturing of batteries.” The move […]
The government of India today approved three new lines for the Delhi Metro at a cost of Rs 25,000 cr. The so-called phase 4 metro expansion will see three lines — from Aerocity to Tuqlaqabad, from RK Ashram to Janakpuri and from Mukandpur to Mauzpur. In all, the three lines will add a total of […]
Ahmedabad-based construction firm Nila Infrastructures Ltd said it received two contracts worth Rs 65.5 crore from Ahmedabad Urban Development Authority (AUDA) for the construction of affordable housing units in Bopal in Ahmedabad. The project includes the construction of 616 flats for economically weaker sections along with basic common amenities, infrastructure & development works of the […]
Infrastructure major Larsen and Toubro (L&T) reported new construction orders from Telangana, Jharkhand, New Delhi and the Gulf, worth between Rs 2,500 cr and 5,000 cr in all. The company secured a campus development order of IIT Hyderabad Package,which includes the construction of buildings such as a Sports and Cultural Complex, Research Centre Complex, Knowledge […]
Air travelers in India will soon be able to enjoy Internet like they do on the ground, after Tatanet Services, a wholly owned subsidiary of NELCO Limited, won an in-flight, maritime connectivity licence from Department of Telecommunications. “The IFMC license will make it possible to have uninterrupted access to voice, data and video services while […]
Paytm, India’s largest digital wallet player, is reportedly planning to set up 1,000 ATMs across the country under a branding tie-up with Tata Communications Payment Solutions Ltd. Although Tata Communications did not confirm the news, the network connectivity provider said it has a “co-branding alliance” with a “leading payments bank recognized as India’s largest digital […]
India’s largest car maker Maruti Suzuki India Ltd launched WagonR S (Smart)-CNG, with 26% more mileage than the existing model. The CNG powered WagonR, with its 1-litre engine, will offer a mileage of 33.54km/kg, the company said. With CNG priced at Rs 44.70 per kg, that works out to a fuel cost of only just […]
NBCC, formerly known as the National Buildings Construction Corporation Limited, said it won new orders amounting to Rs 804 crore in the month of February. The Central Government Navaratna enterprise under the Ministry of Urban Development had secured a total business of Rs 355 crores last month and Rs 743 crore in November. Earlier last […]
Aditya Birla Group firm Grasim Industries Limited on Wednesday said it agreed to buy fabrics manufacturer Soktas India Private Ltd for an enterprise value of Rs 165 crores. The equity valuation of the acquired company was not disclosed, nor did Grasim reveal how much it would pay as part of the transaction. The Kolhapur-based company, […]
Larsen & Toubro said it has received an order worth between Rs 2,500 cr and Rs 5,000 cr to create six underground stations of Bangalore Metro, as well as underground tracks. The first stretch is for 2.76 km from Vellara Junction to Shivajinagar, including a station at MG Road. The second stretch is for 2.88 […]
Suneel M Advani, Managing Director and Chairman of Blue Star and the son of its founder Mohan Advani, has stepped down and will be replaced by Shailesh Haribhakti. Haribhakti will assume charges from April 1, becoming the first professional, independent chairman in the history of the air conditioning company. Suneel Advani who took over the […]
Real estate developer Lodha Group announced what it called ‘India’s largest mall’, spread over 20 acres in Palava, a smart city being developed near Dombivili, Maharashtra. The developer said the mall would be a ‘game changer’, not just for Mumbai, for the entire region, and will address hitherto unmet needs of Mumbaikars. “The development, comprising […]
Days after it imposed a monetary penalty of Rs 7 crore on four PSU banks, the Reserve Bank of India has slapped a fine of Rs 1 crore on ICICI Bank for delays in the implementations of the new controls relating to the SWIFT system of international payments. The SWIFT (Society for Worldwide Interbank Financial […]
Pharmaceutical major Lupin and partner Natco Pharma received approval from the US Food and Drug Administration (FDA) to sell a generic equivalent of Novartis Pharmaceuticals’ Gleevec cancer tablets in the US market. Imatinib Mesylate Tablets, in 100 and 200 mg doses, have annual sales of around $655 million in the United States, Lupin said, making […]
State Bank of India and Hitachi Payment Services announced the start of operations of their payment processing venture in India as India’s largest bank tries to stay on top of the merchant-payment business. Hitachi took a 26% stake in SBI Payments in January for an undisclosed amount. SBI Payments was already India’s biggest merchant-enabler payment […]
Tata Motors’ newly launched SUV, Tata Harrier, sold around 1,600 units in the very first month since its launch on January 23. The company had sold 420 units of the SUV in the first ten days. Harrier, the company’s latest attempt to crack the SUV market after models like Safari, Hexa and Aria, is also […]
India’s most aggressive low-cost airline SpiceJet announced new flights connecting Hyderabad to Colombo, Chennai with Patna and Surat, as well as six new flights under the UDAN scheme. It has introduced direct flights on the Hyderabad-Colombo-Hyderabad route with effect from April 15. SpiceJet is the first Indian budget carrier to service the route and will […]
Anil Ambani Group’s construction arm Reliance Infrastructure said it has got the letter of award for a Rs 648 crore contract to build a new greenfield Airport at Hirasar in Rajkot district of Gujarat. The airport is to be completed within 30 months. The new airport is being constructed at a location near National Highway […]
