Wipro has launched a cloud-based file transfer service for enterprises. Wipro’s Managed File Transfer as a Service (MFTaaS) platform utilizes Microsoft’s cloud platform Azure. File transfer software is used by companies to move large chunks of data from one location to another in a secure manner. Typical communication applications, such as email and messenger, do […]
Religare Finvest Ltd will use Shriram Automall India’s bidding platforms to dispose of its non-performing and immovable assets, Shriram Automall said. “Shriram Automall has over the years proved itself as market leaders and we are confident on better conversion in liquidation of our NPA Properties from our inventory through their effective disposal platforms,” quoted the […]
Tata Power exited its stake in the PT Sorik Marapi Geothermal Power project in Indonesia. The company said it has sold — via its Singapore subsidiary — its 50% stake in OTP Geothermal Pte., which in turn owns 95 per cent interest in the 240 MW power project in North Sumatra. The stake was sold […]
Piramal Enterprises Limited today announced that its wholly owned subsidiary in the US has entered into an agreement to acquire 100% stake in Ash Stevens Inc, a US based Contract Development and Manufacturing Organisation in an all cash deal for a total consideration of USD 42.95 million. There will also be an earn-out consideration capped […]
Speciality chemicals and veterinary drug manufacturer Omkar Speciality Chemicals Ltd said quarterly revenue jumped 24% compared with the previous year. The strong growth in all its business segments has also made the net profit and operating profit increase by 34% compared with the previous year results. Director of Omkar Speciality Chemicals, Mr. Omkar Herlekar, while commenting […]
Infosys Ltd said its banking software Finacle has been named the leader among nine top banking platforms in ‘The Forrester WaveTM: Customer-Centric Global Banking Platforms, Q3 2016’. The ranking was done on the basis of 40 criteria focusing on strategy, current offering and market presence. They scored 4.35 out of 5 and are the only […]
JSW Steel acquired JSW Praxair Oxygen Private (JPOPL) by purchasing the remaining 74% shares for Rs. 240 crores, said the company. JSW steel currently holds 26% of the equity shares of JPOPL and post the aforesaid acquisition, JPOPL would become a wholly owned subsidiary of the Company. JPOPL is engaged in the business of production […]
Following Narendra Modi’s Independence day speech Power ministry has decided to electrify remaining 7,876 un-electrified villages before 1st May 2018. The project, which was taken on mission mode last year, will now see squeezing the implementation schedule to 12 months and also dividing village electrification process into 12 stages, with defined time lines for monitoring. Modi on […]
Bharat Heavy Electricals Ltd announced that it secured an order for setting up 30 MW (3×10 MW) of Solar Photovoltaic Power Plants on engineering, procurement and construction basis from West Bengal State Electricity Distribution Corporation. The order is valued at Rs 169 crores. The SPV plants of 10 MW each are to be set up […]
Bosch India’s Security Technology business unit says it has expanded its product portfolio to suit its local customers and is increasing its investment for local research and development by around 30%. The company has localized production of products like amplifiers, speakers and conference systems. Localization helps it offer speakers and other products for the public […]
Siti Cable Network, a part of Subgash Chandra’s Zee Essel group, said it has received communication from the promoters that Subhash Chandra’s brothers will step down from the promoter group. The move is part of a family arrangement between the four brothers, said the company. “further to the family arrangment agreed to between the promoter […]
APL Apollo Tubes said net profit and earnings per share rose by 90% in April-June period. Sanjay Gupta, Chairman said that improved operational efficiencies and along with better product mix resulted in higher margins. Although the overall sales increased by 13% to 1,127.5 cr. Net Profit was Rs 41.4 cr. EPS rose to Rs 17.68 […]
Cadila Healthcare said that US FDA has successfully closed an inspection at its facility at Changodar at Ahmedabad. The inspection was carried out in March 2016. The plant makes ointments and is not part of Moraiya formulations manufacturing plant, it said. The receipt of Establishment Inspection Report (EIR) “indicates the successful closure of the inspection […]
Minda Corporation said it has agreed to set up a fifty fifty joint venture with Shandong Beiqi Haihua Automobile Parts at a cost of $12.5 million. Other details of the agreement, including the location, were not revealed. The agreement was entered via Minda German subsidary, Minda Ktsn Plastic Solutions. It is an exporter from Germany,the […]
Larsen and Toubro has been chosen as one of the partners to implement the smart city project in Nagpur which is said to be India’s first integrated smart city, said the company. The announcement came after a letter of intent was handed over by Devendra Fadnavis, Chief Minister of Maharashtra to company representatives at a […]
Sun Pharma profits soared fourfold due to growth in sales and proportionally lower expenses compared to the previous year. The net profit after tax stood at Rs. 2,033.71 crores as compared to Rs. 555.9 crores the previous year. Lower material cost and better liquidation of work in progress goods were the major factors for the growth.
Reliance Jio is likely to start selling its JioFi MiFi device over this weekend, according to a tip-off from an anonymous source. According to the tipster, whose genuineness we cannot vouch for, the company will offer for public sale its recently unveiled Haier M2 JioFi device at a price of Rs 2,899 via its Digital […]
Grasim has reported a 64% growth in profit for April-June quarter on strong performance of their Viscose Staple Fibre (VSF) subsidiary. Increase VSF demand and low inventory in China were the major reason for growth, said the company. Cement subsidiary UltraTech’s profit rose to 29% from Rs. 604 crores for the same period the previous […]
The Ministry of Shipping said it is installing solar and wind based power systems at all the Major Ports across the country. It aims to set up 90.64 MW of Solar Energy Capacity at twelve Major Ports and 70 MW of Wind Energy Capacity at four Major Ports by 2017. These major ports have started […]
Ministry of Housing & Urban Poverty Alleviation approved construction of 37,013 cr houses for urban poor in the States of Karnataka and Haryana with an investment of Rs 1,491 cr. An Inter ministerial Central Sanctioning and Monitoring Committee chaired by Dr.Nandita Mukherjee has approved construction of 36,254 houses for economically weaker sections in Karnataka with […]
