ITC to include chocolates, staples under its portfolio
Mon, Mar 15, 2021 1:07 PM

ITC to include chocolates, staples under its portfolio

ITC plans to expand its offerings in categories like chocolates and staples, after a foray into cakes and milkshakes. The FMCG major is expected to introduce packs of chocolates priced in the range of Rs 5 to 10, under the Fantastik brand. For this offering, it has already installed chillers in shops in North India. The company will also launch rice and pulses under the Aashirvaad brand.

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36 workmen laid off by Kirloskar Electric’s Tumkur unit for 3 months
Mon, Mar 15, 2021 12:49 PM

36 workmen laid off by Kirloskar Electric’s Tumkur unit for 3 months

Kirloskar Electric Company Limited factory located at Hirehalli, Tumkur (unit-7) laid off 36 out of 84 workmen for 90 days. “Accordingly, the said 36 workmen will continue to be in a lay off from March 11, 2021, to June 10, 2021,” the company stated in a regulatory filing on Friday. The company reduced its team size at the Hirehalli, Tumkur and Budihyal plants from June 12, 2020.

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Laxmi Organic Industries IPO subscribed 53% on Day 1 (until now)
Mon, Mar 15, 2021 12:44 PM

Laxmi Organic Industries IPO subscribed 53% on Day 1 (until now)

The Laxmi Organic Industries IPO was subscribed 61% by noon on March 15, the first day of bidding as investors put in bids for 1.97 crore equity shares against the offer size of 3.25 crore shares. The portion reserved for retail investors was fully booked and that of non-institutional investors 3% but qualified institutional buyers were yet to bid for the issue.

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Transformers and Rectifiers stocks jumps nearly 10% on Rs 108-crore order
Mon, Mar 15, 2021 12:41 PM

Transformers and Rectifiers stocks jumps nearly 10% on Rs 108-crore order

Transformers and Rectifiers India share price jumped on March 15 after the company bagged a Rs 108-crore order from Power Grid Corporation of India Limited (PGCIL). The orders fall under the normal course of business. The company neither has any interest in these entities that awarded the orders nor fall within the related party transactions.

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Atul forms new subsidiary ALSL for producing Lifescience Chemicals
Mon, Mar 15, 2021 12:38 PM

Atul forms new subsidiary ALSL for producing Lifescience Chemicals

Atul Limited developed Atul Lifescience Ltd (ALSL) as a wholly-owned subsidiary of the company. ALSL has authorised Rs50,000 paid-up capital and the amount is yet to be invested. The company will also deal in the manufacturing of Lifescience Chemicals and APIs after this acquisition. “Subject to required approvals, ALSL will undertake a new project of around Rs 104 crore.

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Gas detected by Adani Welspun in Mumbai Offshore's Tapti-Daman sector
Mon, Mar 15, 2021 12:10 PM

Gas detected by Adani Welspun in Mumbai Offshore's Tapti-Daman sector

Adani Welspun Exploration (AWEL) announced its first-ever gas discovery in its Block at the Tapti-Daman Sector of Mumbai Offshore basin. AWEL got the Block, MB-OSN-2005/2 spread across 714.6 sq. km, during the seventh round of New Exploration Licensing Policy. AWEL is a JV between the Adani Group and Welspun Enterprise, and holds 100%participative interest (PI) and is the Operator of the Block.

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Madhya Pradesh govt proposes week-long quarantine Maharashtra passengers
Mon, Mar 15, 2021 12:05 PM

Madhya Pradesh govt proposes week-long quarantine Maharashtra passengers

The Madhya Pradesh government has issued new guidelines in the wake of rising Covid-19 cases. Now, people coming to districts that share a border with Maharashtra should be identified and advised a week-long quarantine. Madhya Pradesh's eight districts - Chhindwara, Balaghat, Betul, Seoni, Khandwa, Barwani, Khargone and Burhanpur - shared border with Maharashtra.

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392 routes proposed by the Centre under UDAN 4.1 bidding
Mon, Mar 15, 2021 11:58 AM

392 routes proposed by the Centre under UDAN 4.1 bidding

The Ministry of Civil Aviation (MoCA) is eyeing to introduce about 392 routes under UDAN 4.1 bidding process. UDAN 4.1 round is focused on connecting smaller airports, along with special helicopter and seaplane routes. Under UDAN 4.1, some new routes have been proposed under the Sagaramala Seaplane Services in consultation with the Ministry of Ports, Shipping, and Waterways.

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Tech Mahindra stocks rise on news to acquire 70% stake in Perigord Asset
Mon, Mar 15, 2021 11:42 AM

Tech Mahindra stocks rise on news to acquire 70% stake in Perigord Asset

Tech Mahindra share price increased on March 15 and was the top index gainer after the IT major said it plans to acquire 70% stake in an Irish company. The Perigord acquisition is a part of Tech Mahindra’s long-term growth plan to build a presence across key markets in Ireland, Germany, the USA, and India with enhanced global delivery.

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Strides Pharma grants 15,150 equity shares under ESOP
Mon, Mar 15, 2021 11:35 AM

Strides Pharma grants 15,150 equity shares under ESOP

Strides Pharma Science Board of Directors allotted 15,150 equity shares of face value of Rs10/- each to the eligible employees who have exercised their stock options under Strides ESOP 2016 Plan. These shares shall rank in pari passu with the existing equity shares of the Company in all respects. Consequent to the above, the paid-up share capital of the Company has increased to Rs89,66,09,640/-.

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Sun Pharma, Dr Reddy's, Aurobindo shares decline on recalling products
Mon, Mar 15, 2021 11:20 AM

Sun Pharma, Dr Reddy's, Aurobindo shares decline on recalling products

Sun Pharmaceutical Industries, Dr Reddy's Laboratories, Aurobindo Pharma and Jubilant Pharma were trading on a bearish note on Monday after there were reports of recalling products in the US markets due to various reasons. Sun Pharma has recalled Cequa, Dr Reddy's recalled Atorvastatin Calcium Tablets, Aurobindo recalled Famotidine Tablets in the US.

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Sunflag Iron and Steel workers of Bhandara unit goes on a strike
Mon, Mar 15, 2021 11:07 AM

Sunflag Iron and Steel workers of Bhandara unit goes on a strike

Sunflag Iron and Steel informed the exchanges that the workers engaged at the facility at Bhandara in Maharashtra through their Union namely Sunflag Iron & Steel Mazdoor Sabha, have resorted to strike with shorter notice of fewer than 12 hours. The company said the matter had been referred for "Conciliation" which is before the Deputy Labour Commissioner.

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Two-day bank strike starts from today
Mon, Mar 15, 2021 10:53 AM

Two-day bank strike starts from today

Banking operations across India may be impacted on March 15 and 16 as the United Forum of Bank Unions (UFBU), an umbrella body of nine groups, has announced a nationwide strike to protest against the proposed privatisation of two state-owned lenders. Fearing job losses, the unions want the Centre to withdraw the privatisation plan announced in the Budget.

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Clubhouse introduces accelerator programme for creators
Mon, Mar 15, 2021 10:50 AM

Clubhouse introduces accelerator programme for creators

Clubhouse, an audio-based social network for iOS, unveiled an accelerator programme for 20 creators on March 14. It will support them with promotion and monetisation of shows. As the app completes a year on March 17, there are also plans for a world tour to better understand how the people across the world use them through country-specific town halls on the app, which could include India as well.

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Railways' parcel management system to be available at 523 locations
Mon, Mar 15, 2021 10:43 AM

Railways' parcel management system to be available at 523 locations

The Indian Railways (IR) new parcel management system (PMS) is adding 523 new locations, from the present 84, to provide a “vast network of stations” for transportation of small consignments. The expansion will be done in phases and 143 locations will be added in Phase II and by Phase III, the computerised PMS will have 523 locations.

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