Water scarcity in Madhya Pradesh due to delayed rains have hit production at Aditya Birla Groups Nagda chemical plant, where capacity utilisation currently stands at just 20%. The water shortage is because of the poor monsoon last year, Grasims whole-time director Adesh Gupta said. The Nagda plant requires 90 lakh gallons of water a day 80 lakh gallons for the VSF plant and the remaining for the chemical plant, Gupta said.
TVS to double sales revenue
TVS Motor is expecting to double its revenue from scooter sales in the current fiscal on the back of its newly launched vehicle, Wego, and a robust market growth, a company official said. Our sales from scooter segment will reach Rs. 1,500 crore-Rs 1,600 crore in the current fiscal because of our new offering Wego and good growth happening in the country's scooter market, company's general manager (marketing), S Srinivas said.
Bling targets Rs 400-cr sales
Bling Telecom on Monday said it would invest Rs 120 crore to scale up its distribution network, launch new handsets and set up more service centers targeting a three-fold jump in sales to Rs 400 crore this fiscal. "We will invest Rs 120 crore, which will essentially be spent on expanding our network, bringing new mobile handsets and opening service centres in the country," chairman Rajiv Khanna said.
Venus gets drug patent in NZ
Pharma firm Venus Remedies on Monday said that it has received patent for its anti-pneumonia drug in New Zealand and hopes to generate handsome revenues there following the grant.
Cafe Coffee Day to get new logo
Cafe Coffee Day, is all set to don a new look and logo as the chain goes for re-branding. The company plans to invest Rs 130 crore this fiscal to open 180 outlets and revamp the existing ones with a new logo, director Alok Gupta said.