$60 million garnered by Duroflex from Norwest Venture Partners
Thu, Oct 14, 2021 4:47 PM

$60 million garnered by Duroflex from Norwest Venture Partners

Duroflex garnered $60 million (about Rs 450 crore) in funds from the Silicon Valley-based equity venture and growth equity investment firm Norwest Venture Partners through a mix of primary and secondary capital. The mattress brand has been rapidly expanding its presence and plans to have 1000 stores by the end of this fiscal. Currently, the company has 800 franchise-owned stores.

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Frontline Corporation reports fire accident in its Coimbatore's wind mill
Thu, Oct 14, 2021 4:34 PM

Frontline Corporation reports fire accident in its Coimbatore's wind mill

Frontline Corporation reported that a fire accident occurred on October 13, 2021 in one of their windmill HTSC 232 Bonus make 320 Kwh in Coimbatore. Preliminary findings suggested that the failure of the Hydraulic System was the primary reason for the accident. However, the company is yet to establish the real cause of fire and the extent of damage as it's hot in the nacelle.

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Reliance leads India Inc in Forbes' World's Best Employer rankings 2021
Thu, Oct 14, 2021 4:26 PM

Reliance leads India Inc in Forbes' World's Best Employer rankings 2021

Reliance Industries became a leader among Indian corporates in the World's Best Employers rankings 2021 published by Forbes. Reliance was placed at 52 in the overall ranking of 750 global corporates likes Phillips, Sanofi, Pfizer, and Intel. South Korea’s Samsung Electronics topped the series trailed by IBM at number 2, Microsoft at 3 in the global rankings.

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Olectra Greentech dispatches new electric buses to Evey Trans Pvt Ltd
Thu, Oct 14, 2021 4:22 PM

Olectra Greentech dispatches new electric buses to Evey Trans Pvt Ltd

Olectra Greentech has delivered its new Electric Buses ‘C9- Inter-City Buses’ to Evey Trans Private Limited (EVEY). These electric busses were introduced on October 13, 2021, for commercial Inter-City E-Bus Operations between Pune and Mumbai. Olectra Greentech, incorporated in 1992, is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.

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GTPL Hathway’s H1FY22 consolidated revenue grows 12% (YoY) to Rs1,215.9cr
Thu, Oct 14, 2021 4:16 PM

GTPL Hathway’s H1FY22 consolidated revenue grows 12% (YoY) to Rs1,215.9cr

GTPL Hathway, on Thursday, announced the financial results for the second quarter and half year ended on September 30, 2021. The company’s consolidated Q2FY22 revenue (incl. EPC) stood at Rs605.2cr; up 4% YoY; Consolidated H1FY22 revenue (incl. EPC) at Rs1,215.9cr; up 12% YoY. Q2FY22 ISP Revenue reported at Rs100.6cr; up by 50% YoY; H1FY22 at Rs192.4cr; up by 61% YoY.

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Cement capacity of 1.2 mtpa commissioned by Ultratech in Oct 2021
Thu, Oct 14, 2021 4:07 PM

Cement capacity of 1.2 mtpa commissioned by Ultratech in Oct 2021

Ultratech Cement incorporated a cement capacity of 1.2 mtpa in October 2021. This is the first phase of the 19.5 mtpa capacity expansion announced in December last year. The cement maker announced that this additional capacity will help the Company to service the fast-growing cement demand in the Eastern markets and will also help in increasing its blended cement ratio.

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Bhansali Engineering eyeing to enhance ABS capacity 200,000 TPA
Thu, Oct 14, 2021 3:59 PM

Bhansali Engineering eyeing to enhance ABS capacity 200,000 TPA

Bhansali Engineering commenced the process of securing Environmental Clearance for increasing the ABS capacity from 130,000 TPA to 200,000 TPA at Abu Road unit in Rajasthan. Further, the Environmental Clearance for 50,000 TPA HRG (for captive consumption to manufacture 200,000 TPA ABS) at Satnoor Plant and 130,000 TPA ABS Production at Abu Road Plant has already been achieved.

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BMW unveils 3 Series Gran Limousine 'Iconic Edition' in the Indian market
Thu, Oct 14, 2021 3:52 PM

BMW unveils 3 Series Gran Limousine 'Iconic Edition' in the Indian market

BMW on Thursday unveiled its new BMW 3 Series Gran Limousine 'Iconic Edition' in India with a price starting at Rs 53.5 lakh. The luxury car is available with immediate effect across BMW dealerships in the country in both petrol and diesel variants. It will be locally manufactured at BMW Group Plant in Chennai exclusively for the Indian market.

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PhonePe witness 85% jump in revenue during FY21
Thu, Oct 14, 2021 3:24 PM

PhonePe witness 85% jump in revenue during FY21

PhonePe registered a decline of 44% in losses for the financial year 2021 (FY21) against the previous fiscal. Operational losses, excluding the Employee Stock Ownership Plan (ESOP), costs stood at Rs 888 crore in FY21 versus Rs 1,570 crore in FY21. The Bengaluru-based digital payments and financial services leader’s revenue jumped from Rs 372 crore in FY20 to Rs 690 crore in FY21, (up 85%).

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RIL says it made broad proposal for merger with Zee at fair valuations
Thu, Oct 14, 2021 3:20 PM

RIL says it made broad proposal for merger with Zee at fair valuations

Reliance Industries (RIL) updated about merger talks with Zee Group. The clarification comes after when Zee Entertainment and Invesco are in a corporate feud. In early Wednesday, Invesco stated that the company had initiated talks for a merger between RIL and Zee Group. RIL clarified that the company made a broad proposal to merge its media business with Zee at a fair valuation.

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Nykaa IPO worth Rs 4,000 crore approved by market regulator Sebi
Thu, Oct 14, 2021 3:12 PM

Nykaa IPO worth Rs 4,000 crore approved by market regulator Sebi

Securities and Exchange Board of India (SEBI) approved Nykaa’s Rs 4,000 crore public issue on October 14. The online beauty retail startup is likely to be valued at over Rs 40,000 crore. The majority of the funding raised through the IPO will be used to pay existing investors selling their stakes. Sanjay Nayar, TPG, Lighthouse and Sunil Munjal are among the selling shareholders.

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Goa Carbon's credit facilities reaffirmed by Acuite
Thu, Oct 14, 2021 2:53 PM

Goa Carbon's credit facilities reaffirmed by Acuite

Acuité reconfirmed the long term rating of ‘ACUITE BBB- ’ and the short term rating of ‘ACUITE A3+’ to the Rs273cr bank facilities of Goa Carbon Limited (GCL). The outlook is ‘Stable’. The rating considers the improvement in the operating margins as compared to the losses incurred by the company earlier. The EBITDA margin stood at 1.78 per cent in FY2021 as against (3.52)% in FY2020.

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Delhivery appoints three Independent Directors ahead of public issue
Thu, Oct 14, 2021 2:44 PM

Delhivery appoints three Independent Directors ahead of public issue

Ahead of its public issue launch, Delhivery designated three new independent directors. The startup has roped in Kalpana Moparia, Romesh Sobti and Sugata Gupta as new independent directors Moparia has earlier served as a chairman of J.P Morgan, south and southeast Asia. The logistics unicorn Delhivery is eying for a $1 Bn IPO in the domestic market at $4 Bn - $4.5 Bn

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🥇 5-stars achieved by Tata Punch for safety in Global NCAP crash test
Thu, Oct 14, 2021 2:40 PM

🥇 5-stars achieved by Tata Punch for safety in Global NCAP crash test

The Tata Punch achieved a five-star rating for adult occupant protection and four stars for child occupant protection in Global NCAP’s latest crash tests. The automobile was tested in the most basic safety specification, fitted with two airbags, ABS brakes and ISOFIX anchorages. Tata Punch goes on sale on October 18 and is the third model from Tata Motors to secure the highest safety ratings.

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As food prices decline, WPI Inflation eases to 10.66% in September 2021
Thu, Oct 14, 2021 2:28 PM

As food prices decline, WPI Inflation eases to 10.66% in September 2021

India's wholesale price index inflation declined to 10.66% (provisional) in September 2021 due to lower food prices. WPI was at 11.39% and 11.57% in August and July 2021. WPI and CPI are in line as both the indicators have eased in September 2021. WPI stood at 1.32% in September 2020. For July 2021, the final WPI and inflation rate for 'All Commodities' stood at 135.0 and 11.57 % respectively.

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