Vedanta okays Rs 3,779 crore worth expansion of Lanjigarh Alumina Refinery
Fri, Feb 5, 2021 4:15 PM

Vedanta okays Rs 3,779 crore worth expansion of Lanjigarh Alumina Refinery

Vedanta Limited's board of directors approved the expansion of existing capacity of Lanjigarh Alumina Refinery. Vedanta plans to expand the capacity to 5 MTPA from existing capacity of 2 MTPA of the refinery for an investment of Rs 3,779 cr. The company stated, "Completion of this project will place Lanjigarh Alumina Refinery as one of the world’s largest single-location alumina refinery complex."

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Lockheed Martin signs deal with HAL to explore industrial opportunities
Fri, Feb 5, 2021 4:05 PM

Lockheed Martin signs deal with HAL to explore industrial opportunities

Lockheed Martin on Friday signed an MoU with the Hindustan Aeronautics Limited (HAL) to explore industrial opportunities. "We are excited to explore potential opportunities with HAL, one of the largest aerospace companies in Asia," said Vice President of Business Development Integrated Fighter Group, Lockheed Martin Aeronautics, J R McDonald.

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Biocon's arm partners Clinton Health to develop Oncology Biosimilars
Fri, Feb 5, 2021 3:38 PM

Biocon's arm partners Clinton Health to develop Oncology Biosimilars

Biocon's subsidiary, Biocon Biologics partners with the Clinton Health Access Initiative (CHAI) to expand access to lifesaving cancer biosimilars in over 30 countries in Africa and Asia as a part of the Cancer Access Partnership (CAP). This partnership is a significant step in delivering advanced cancer therapies to deserving patients and ensures equitable access to medicine.

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BEL partners JSC Rosoboronexport to develop aviation hoses
Fri, Feb 5, 2021 3:31 PM

BEL partners JSC Rosoboronexport to develop aviation hoses

Bharat Electronics Limited (BEL) signed an Offset Contract with Joint Stock Company Rosoboronexport, Russia, for setting up industrial facilities for the manufacture of a wide range of aviation hoses at BEL Optronic Devices Limited, Pune. BEL further added that the active operation of numerous aircraft of the Indian Air Force creates a constant demand for aviation hoses.

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Robinhood withdraws trading restrictions on all stocks
Fri, Feb 5, 2021 3:21 PM

Robinhood withdraws trading restrictions on all stocks

Robinhood on Thursday conformed the withdrawing of temporary trading restrictions on all stocks, including GameStop Corp and AMC Entertainment Holdings Inc, according to an update on its website. Earlier in the day, Robinhood's website showed that the trading limit on GameStop's shares was set at 500, while for AMC the limit was set at 5,500 shares.

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Prataap Snacks considering to further increase 10.48% stake in Avadh
Fri, Feb 5, 2021 3:10 PM

Prataap Snacks considering to further increase 10.48% stake in Avadh

Prataap Snacks Limited okayed the acquisition of further 10.48% of paid-up equity share capital of Avadh Snacks Private Limited (Avadh), the subsidiary, for an aggregate value of Rs33cr. Currently, the food company holds 80% of paid-up equity share capital of Avadh. After the acquisition, the holding of the Company in Avadh will increase to 90.48% of paid-up equity share capital.

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Fitch expects telecom industry Ebitda to increase by 40% this FY20-21
Fri, Feb 5, 2021 3:00 PM

Fitch expects telecom industry Ebitda to increase by 40% this FY20-21

Rating agency Fitch expects operating incomes of the telecom industry to increase by 40% in the FY20-21 compared to 25% in the previous one, backed by a strong performance of Reliance Jio Infocomm and Bharti Airtel. The EBIDTA of the two rivals will be further propelled by higher tariffs, shift of customers to 4G and data usage of 12GB-16GB per user per month.

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M&M Q3 profit climbs 40% to Rs 530 crore
Fri, Feb 5, 2021 2:49 PM

M&M Q3 profit climbs 40% to Rs 530 crore

Mahindra & Mahindra on February 5 reported a massive 39.6% YoY growth in profit at Rs 530 crore for the Q3-2020. The company had an exceptional loss of Rs 1,213.98 crore for the December quarter, representing impairment provisions for certain long-term assets and other exposures. Revenue from operations grew by 16% YoY to Rs 14,056.5 crore in Q3FY21, with strong tractor volumes.

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Tata Power posts 22% YoY growth in Q3 PAT to Rs 318 crore
Fri, Feb 5, 2021 2:30 PM

Tata Power posts 22% YoY growth in Q3 PAT to Rs 318 crore

Tata Power's Q3FY21 registered a consolidated net profit at Rs318cr against Rs260cr registering 22% YoY growth. This is mainly due to better performance in Mundra, steady operational performance across all businesses and interest cost savings on account of debt reduction. Consolidated revenue for the quarter stood at Rs7,740cr in Q3FY21, up by 8% from Rs7,171cr in Q3FY20.

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IndusInd Bank to open a new branch at Katra in Jammu & Kashmir
Fri, Feb 5, 2021 2:18 PM

IndusInd Bank to open a new branch at Katra in Jammu & Kashmir

IndusInd Bank has announced its plan to inaugurate a new branch at the holy town of Katra located in the Union Territory (UT) of Jammu & Kashmir. The branch will be situated at the premises of the Shri Mata Vaishno Devi Shrine Board, the governing body of the Shrine. The new branch includes two ATMs that will be deployed across various spots of the SMVDSB site for the convenience of pilgrims.

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Wipro makes it to 2021 Bloomberg Gender-Equality Index for the 2nd year
Fri, Feb 5, 2021 2:05 PM

Wipro makes it to 2021 Bloomberg Gender-Equality Index for the 2nd year

Wipro announced that it has been included in the 2021 Bloomberg Gender-Equality Index (GEI). Notably, the IT giant is one of 380 companies across 11 sectors included in the 2021 Bloomberg GenderEquality Index (GEI). Wipro has been included in the index for the second consecutive year. The company focuses on building a culture of inclusion by breaking stereotypes and biases.

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Amazon India announces Valentine's Day Store on its platform
Fri, Feb 5, 2021 2:00 PM

Amazon India announces Valentine's Day Store on its platform

Valentine’s Day is right around the corner. Ahead of annual celebrations, Amazon India has announced the Valentine’s Day Store on its platform, which features a specially curated selection of products ranging from gifting essentials, electronics and large appliances to smartphones and Amazon Devices among others to pick from. Customers can choose products from a host of leading brands!

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Strides Pharma in advanced talks for manufacturing Covid-19 vaccine
Fri, Feb 5, 2021 1:52 PM

Strides Pharma in advanced talks for manufacturing Covid-19 vaccine

Strides Pharma Science is in advanced talks with a “successful” Covid-19 vaccine developer to manufacture the latter’s vaccine. However, the drugmaker declined to name the vaccine developer, citing a confidentiality agreement. Once a deal is inked, the Covid-19 vaccine, developed by a global vaccine maker, will be manufactured by Strides’ biotech subsidiary Stelis Biopharma.

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RFP for 70 aircraft bagged by HAL from Indian Air Force
Fri, Feb 5, 2021 1:40 PM

RFP for 70 aircraft bagged by HAL from Indian Air Force

HAL confirmed the receiving of Request for Proposal (RFP) from the Indian Air Force for their Basic Trainers requirement at the on-going Aero India 2021. HAL states that the RFP is for 70 aircraft with an additional clause for 38 more. The certification will be given against the PCQR. The production will take place at HAL's two manufacturing units at Bengaluru and Nashik.

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NLC India successfully conducted trial operation of Thermal Project
Fri, Feb 5, 2021 1:09 PM

NLC India successfully conducted trial operation of Thermal Project

NLC India informed about their successful completion of 72hrs of continuous trial operation of 500 MW of Second Unit of pit head lignite-fired Neyveli New Thermal Power Project at its rated capacity on 03.02.2021. The 500 MW Capacity Lignite fired Boilers of NNTPP are first of its kind in India. The formal clearance from SRLDC is in process for Declaration of Commercial Operation of the Unit.

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