Industry

BoB-led lenders, JBF Industries to sign inter-creditor pact

46 AM ISTAgenciesAccording to the RBI circular, lenders must enter an ICA during the review of the borrower account within 30 days of the first default to any lender.Mumbai: Lenders led by Bank of Baroda have decided to sign an inter-creditor agreement with Kohlberg Kravis Roberts & Cobacked JBF Industries under a June 7 circular issued by the Reserve Bank of India, said two people familiar with the development.

Test EVs in a few cities before full-scale adoption: Bosch Chief Volkmar Denner

Several automakers have opposed the proposal, arguing that the sudden shift from IC engines - which use fossil fuels to EVs would disrupt the automobile industry.28 AM ISTGetty ImagesBosch has built a powertrain for electric two-wheelers, Denner said.

GeM, SAIL ink pact to set up project management unit

16 PM ISTReutersSAIL has become the first public sector undertaking to establish GOTT PMU.The current steel secretary has launched this marketplace when he was additional secretary in the commerce ministry to increase efficiency and transparency in the public procurement, which runs into lakhs of crore.

FMCG companies wake up to a million Indias

“Step back and compare South Mumbai to suburban Mumbai,” said HUL CFO Srinivas Phatak, “there’s a fundamental transformation in the profile of consumers.“Different states are growing differently from a GDP perspective, or in terms of infrastructure and agriculture,” said HUL executive director (home care) Priya Nair.

No power supply to discoms without bank guarantees

NEW DELHI: Power companies will mandatorily have to snap supplies to state electricity distribution companies that fail to open or maintain bank guarantees with effect from August 1, the Centre said in on order on Wednesday.Financially weaker distribution companies can open letters of credit for even one day, one week or a fortnight of electricity supply and keep renewing them, said the order issued by the power ministry.

Colgate India appoints new MD

06 PM ISTBCCLThe maker of the eponymous toothpaste said it posted a 4% rise in new sales during April-June quarter at Rs1075.9 crore with net profit excluding exceptional items increasing 5% to Rs169.

Phillips Carbon Black unveils state-of-the-art Sushila Goenka Research and Development Centre in Gujarat

, the R&D Centre entailed an initial investment of Rs 20 crore.24 PM ISTBCCLSanjiv GoenkaKOLKATA: Phillips Carbon Black chairman Sanjiv Goenka on Thursday unveiled the company’s state-of-the-art Sushila Goenka Research and Development Centre located at Palej, Gujarat.

Reliance Brands completes acquisition of Hamleys

In May this year, Reliance Brands had signed an agreement to acquire 100 per cent stake in Hamleys Global Holdings from Hong Kong-based C.comHamleys is one of the world's oldest retailers of toys and has changed hands several times.

DoT submits probe report to CVC on penalties' alleged delay

The CVC had asked the DoT to conduct the investigation in February this year.The CVC had asked the DoT to conduct the investigation in February this year, after it received complaints alluding to misconduct of some officials that were part of the committee looking into levying the penalties.

DIPAM writes to power ministry to explore NTPC-SJVN merger

In 2018, ONGC bought government's entire 51.11% stake in HPCL for Rs 36,915 crore.

IndiGo feud: Government seeks explanation from IndiGo on Gangwal's complaint

14 PM ISTBCCLThe ministry's communication comes less than 10 days after Gangwal flagged concerns about corporate governance lapses at InterGlobe Aviation.NEW DELHI: The government has sought explanations from InterGlobe Aviation on allegations of corporate governance lapses raised by co-founder and promoter Rakesh Gangwal.

L&T Hydrocarbon Engineering bags over Rs 7,000 crore order from Saudi Aramco

The company specified that as per its classification, the mega project is in the range of over Rs 7,000 crore.25 AM ISTBCCL"This award is received by the consortium of LTHE with EMAS AMC (A Subsea7 company)," L&T stated in a BSE filing.

may start flights to Bhutan from New Delhi

04 PM ISTBCCLFollowing the launch of the services, GoAir will become the first domestic private carrier to fly to Bhutan.MUMBAI: Wadia group-promoted budget carrier GoAir is likely to commence flight services to Bhutan from New Delhi, a source said Thursday.

BHEL gets Rs 750 cr order from NTPC-Railways JV

The order involves supply and installation of Flue Gas Desulphurization (FGD) system at 4x250 MW Nabinagar project of BRBCL in Bihar, Bharat Heavy Electricals Ltd (BHEL) said in a statement.02 PM ISTAgenciesThe scope of work includes design, engineering, civil works, supply, erection and commissioning of wet FGD system.

IIT-M launches 'techMBA' for its undergraduate students

The dual degree programme, which will be introduced from 2019-20 academic year, will have an intake of 25-30 students, IIT-M statement said.08 PM ISTAgenciesThe course conceptualised by the institute's Department of Management Studies (DMS) will offer foundational techMBA courses during the third and fourth years of all UG programmes.

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Department of Telecommunications reaches out to FinMin for sectoral relief package

The DoT, he said, has written to the FinMin, seeking a reduction in the goods and services tax (GST) on telecom gear and services from 18% to 12%.39 PM ISTGetty ImagesFM Sitharaman during her recent budget presentation had said BharatNet project was being speeded up to boost internet availability.

Essar Steel’s April-June operating profit at a record Rs 1,120 crore

88 million tonnes and the company posted operating profit of Rs 1,120 crore in the quarter ending June.This is more than twice Essar Steel had earned when administrators took over the debt-laden alloymaker about two years ago, according to sources aware of the development.

Hiranandani Group forays into data centre parks

The first data centre park will come up by December this year at Hiranandani Fortune City township in Panvel, followed by Chennai and Mumbai.50 PM ISTBCCLNiranjan HiranandaniPUNE: Mumbai based real estate developer, the Hiranandani group today announced its entry into the data centre parks space with a new business venture, Yotta Infrastructure.

Steel makers may see up to 20% rise in cost: Crisil

In March 2020, leases for more than 30 iron ore mines, which account for nearly 62 million tonnes (mt) of ore — comprising 50-55% of Odisha’s output and 10% of other states’ production of around 10 mt — are expiring.49 AM ISTAgenciesIn 2018-19, domestic production of ore is estimated to have been around 207 mt.