Industry

Heranba Industries eyes Rs 1,200 cr revenue in FY21; to enter capital markets to raise Rs 700 cr

Agrochemical company Heranba Industries, which is planning to enter the capital markets soon, is expecting Rs 1,150-1,200 crore revenue in 2020-21 as the economic activities are improving gradually af

This country will soon start rating gadgets on their durability and repairability aspects

France has already become the first country to announce that it will introduce repairability scores to gadgets sold there from January 2021

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Xiaomi gives Redmi Note 9 Pro a major upgrade, adds 5G and whopping 108MP camera

Also tagging along are Redmi Note 9 5G and "new" Redmi Note 9 4G.

Vodafone Idea’s digital education, healthcare, wellness plan; teams up with 1mg, upGrad, Udemy, more for offers

The move would enable the telecom operator to enhance digital engagement, build a future stream of revenue and create a brand differentiation, besides positioning it as a larger platform of digital se

Pharma companies likely to attain normalcy this quarter; October sees bumper rise in sales

Indian Pharmaceutical Market (IPM) grew 1 per cent on-year in Q2 FY21, against a fall of 5.9 per cent in the first quarter.

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Flipkart pips Amazon to lead online festive sales this year; industry GMV up 65% from year-ago

The festive season saw 87 per cent growth in the number of customers to 88 million up from 47 million during last year's sales. Of these 88 million, around 57 per cent came from Tier-II and beyond cit

Gujarat ginners back to work in full swing

Ahead of Diwali, fresh orders from spinners started pouring in. At the same time, fresh cotton started to arrive in the mandis. As a result, nearly 80% of the ginners have resume operations.

Currently, around 50,000 bales (170 kg per bale) are being processed at ginning mills across Gujarat.

Daiichi plea: Supreme Court allows Yes Bank to auction land

A bench led by Justice UU Lalit while dismissing Daiichi’s appeal, said there was “no reason to interfere” with the Delhi High Court’s October 15 order that allowed the sale of 12 bigha of lan

The bank had moved to sell the property, which Daiichi had opposed on the ground that the HC had asked the parties to maintain status quo on the assets.

Thermax looks to focus on clean energy, water and air

In terms of the kind of projects that customers are getting started on, I think private players are opening their chequebooks for projects which have less than three years payback and projects that ha

Thermax will not be only a capital goods company.

Kapil Wadhawan moves NCLT, seeks to defer consideration of DHFL bids

The promoters of DHFL were in discussion with lenders in 2019 to resolve the company as per June 7 circular of RBI. Later, the regulator superseded DHFL's board and referred it to NCLT for resolution.

On October 17, Kapil Wadhawan had offered his personal and family properties for repayment of outstanding loans of lenders to the company.

PM Modi hints at incentives for local production of solar equipment

Addressing the third edition of RE-Invest, an annual renewable energy investors’ meet organised by the government, Modi said that India is likely to generate business prospects of around $20 billion

The country has set a target to raise the installed capacity of renewable energy from the current level of 89 GW to 450 GW by 2030.

Covid spurs record demand for wearables in July-September

Increased demand for wireless devices pushed the ear wear category to hit its all-time high in shipments in the country, witnessing a 261% y-o-y growth in Q3 2020.

Watches grew at almost 120% y-o-y in Q3, with 7,78,000 units shipped, making it their biggest quarter since the launch of the category in India. (Representative image)

Bharti Airtel CEO Gopal Vittal reiterates call for affordable spectrum

Apart from improved access to digital infrastructure, there should be stable and long-term policies to encourage more investments with fewer risks, he said.

Airtel had earlier said that the current reserve price for spectrum, especially 5G, is too high and unaffordable for it to buy airwaves.

DHFL’s net loss narrows to Rs 2,123 crore in Q2

The Reserve Bank of India (RBI) had earlier granted six months moratorium to borrowers from March 1, 2020.

DHFL’s total income increased 4.3% y-o-y, but declined 5.4% quarter-on quarter (q-o-q) to Rs 2,328 crore. Other income fell 85.3% y-o-y and 73.6% sequentially to Rs 109 crore.

Tube Investments acquires CG Power; to raise Rs 350 cr from Azim Premji Trust, SBI Mutul Fund

TII, CG Power and its lenders have on November 20 executed binding agreements for one-time settlement, restructuring of funded facilities and guaranteed debt of CG Power.

TII had signed a share purchase agreement with CG Power on August 7 to acquire around 56% stake for investment of Rs 700 crore and later announced an additional investment of Rs 100 crore.

ECLGS: Govt extends credit guarantee scheme to health and 26 other sectors identified by Kamath Committee

The scheme was announced by the government earlier this month as part of the Rs 2.65 lakh crore Atmanirbhar Bharat 3.0 package.

Over Rs 10 lakh crore loans under Mudra Yojana created 51 lakh entrepreneurs between 2015-18: Irani

Addressing an awards ceremony virtually, the Minister for Women and Child Development and Textiles also thanked Covid warriors, many of whom died in the line of duty across the country.

India can create USD 1 trillion of economic value using digital technology by 2025: Niti Aayog CEO

Addressing a virtual event organised by industry body FICCI, Kant said the COVID-19 pandemic has provided an impetus to the ever-expanding digital infrastructure.

Flipkart in final stages of consolidating Walmart India within its wholesale business

In July, Flipkart announced the acquisition of Walmart India for an undisclosed amount, and launch of 'Flipkart Wholesale' to tap into the USD 650 billion B2B retail market in India.

Amazon Pay, Paytm Payment Bank, PhonePe, Mobikwik are NPCI’s new shareholders among total 67 entities

Amazon Pay India, PayU Payments. PhonePe, Pine Labs, Paytm Payments Bank, IDFC First Bank, Standard Chartered Bank, etc., have 0.44 per cent shareholding each while MobiKwik and India Post Payments Ba

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Google India FY20 revenue rises 35% to Rs 5,593.8 crore, profit up 24%

Google India's total income was at Rs 4,147 crore in the financial year ended March 31, 2019, according to Registrar of Companies filing shared by market intelligence firm Tofler.

Realtors should avail last mile finances from Rs 25,000 crore stress fund: SBICAP

In November last year, the Centre had announced a Rs 25,000-crore fund to help complete over 1,500 stalled housing projects comprising 4.58 lakh housing units across the country. 

RBI’s culpability in Lakshmi Vilas Bank’s failure needs to be looked into: AIBEA

Meanwhile, four officers' unions -- AIBOC, AIBOA, INBOC and NOBO -- in a joint statement on Thursday demanded a judicial probe into the merger process and suggested that acquisition of LVB be put in a

Started by a group of seven businessmen of Karur in Tamil Nadu under the leadership of V S N Ramalinga Chettiar in 1926, LVB has 566 branches and 973 ATMs spread across 19 states and union territories.

E-cosmetics unicorn Nykaa raises funding from Fidelity via secondary deal; investors exit partially

While Nykaa directly competes with Purplle, it also has horizontal players such as Amazon and Flipkart apart from LimeRoad and Myntra in the fashion e-commerce category among its competitors.

The journey of a consumer in terms of awareness is shifting from TV to digital avenues, with 33% beauty consumers engaging digitally every day, 50% every week and 93% every month

Reserve Bank Governor Shaktikanta Das exhorts stakeholders to ensure smooth transition from LIBOR

LIBOR, which is the global benchmark for borrowings, is expected to cease by the end of next year. The RBI has been planning to replace it with the Mumbai Interbank Forward Outright Rate (MIFOR).

India's exposure to LIBOR-linked borrowings, bonds, deposits and derivative contracts is pegged at USD 331 billion.

PM Modi tells foreign investors why they should invest in India’s green energy; reveals $20 bn plan

PM Modi today said that in the last 6 years, India has travelled on an unparalleled journey and it is expanding our generation capacity and network to ensure every citizen of India has access to elect

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FMCG industry sees signs of recovery in September quarter: Nielsen

FMCG witnessed a double-digit growth of 10.6 per cent in Q3'20 in rural India, while the bigger cities of over 1 Lakh population, including metros and Town Class 1, played catch-up, it added.

As far as market geographies are concerned, rural areas continued to drive growth for the FMCG sector.
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