Adani Wilmar announced cutting the price of cooking oils by up to ₹30 per litre, the second reduction in less than a month amid fall in global rates. The Ahmedabad-based company, which sells cooking oils under Fortune brand with nearly 20 per cent market share, said the fresh stock with the new MRP (Maximum Retail Price) will hit the market soon.
Jindal Stainless will provide 3,500 mt stainless steel for the Udhampur-Srinagar-Baramula Rail Link (USBRL) Tunnel Project construction. This project of national importance is a 272 km-long railway link in Jammu and Kashmir. This will be the first-ever application of stainless-steel cable trays in an Indian railway project.
Zydus Lifesciences Limited’s (formerly known as Cadila Healthcare Limited) subsidiary Zydus Worldwide DMCC has received final approval from the United States Food and Drug Administration (USFDA) to market Efinaconazole Topical Solution, 10 per cent. Efinaconazole is an azole antifungal used for the topical treatment of Onychomycosis of the toenails due to Trichophyton rubrum and Trichophyton mentagrophytes. The drug will be manufactured at the group’s Ahmedabad manufacturing facility.
Tube Investments of India Limited, which has been exploring growth opportunities has formed a 100 per cent subsidiary - TI Clean Mobility Private Limited to consolidate and focus on its clean mobility ventures. TICMPL has existing interests in 3-wheeler electric vehicle and electric tractors (operated through its subsidiary Cellestial E-Mobility Private Limited).
IndusInd Bank has said its board has approved a proposal to raise ₹20,000 crore in debt to fund business growth. The bank’s board approved the proposal in its meeting held on Monday.
Raghav Productivity Enhancers Ltd and United-Kingdom-based Capital Refractories Ltd have entered in an arrangement to partner for sale of silica ramming mass to foundry and casting industry world-wide. Capital Refractories will leverage its global distribution set-up to grow the business with its foundry and casting customers.
State-owned RINL has signed an agreement with Software Technology Parks of India (STPI) and STPINEXT for promotion of innovation and startup activities. STPI is an organisation under the Ministry of Electronics and Information Technology (MeitY), while STPINEXT is its subsidiary acting as the nodal agency and common implementation vehicle for various startup and entrepreneurship activities.
An accident has occurred due to spillage of salt from sealed quench furnace (SQF) at Shivam Autotech Ltd’s Rohtak Plant, Haryana on July 18. The cause of the salt spillage from SQF would be assessed in due course the company said and added “this unfortunate incident has resulted in two fatalities and one burn injury.” The assessment of the loss caused to machineries and materials is under process; however, such accident has no adverse impact on the production capacity or operations, it further said.
Surya Roshni Ltd has obtained orders amounted to ₹91.27 crore (including GST) for supply of API-5L 3LPE Coated Line pipes from Bharat Gas Resources Limited.
Results Calendar: Automobile Corporation of Goa, Adroit Infotech, Ambuja Cements, AU Small Finance Bank, Control Print, DCM Shriram, Garware Synthetics, Hatsun Agro, HDFC Life, Hindustan Unilever, ICICI Lombard General Insurance, Indian Acrylics, Integra Engineering, Kirloskar Pneumatic, L&T Finance Holdings, Network 18, Nila Spaces, Pasari Spinning Mills, Polycab India, Ponni Sugars (Erode) and Rallis.