Usha Martin Ltd (UML) will now seek its shareholders’ approval on November 10 with regard to the sale of its steel business to Tata Steel. The approval will be sought through special business in the extraordinary general meeting next month. The UML management on Wednesday took the decision. Meanwhile, the engineering labour union of Usha Martin has taken up the entire issue with the Jharkhand chief minister, demanding an inquiry by the enforcement directorate (ED) into the activities of Usha Martin Industries’ managing director Rajeev Jhawar.
Metro Dairy, the prime revenue driver for Keventer Agro, is aggressively working on the plan of doubling revenue to Rs 800 crore from Rs 400 crore in the next two years. Apart from deciding to strengthen sales and distribution network, to give itself a fresh and younger brand makeover, Metro Dairy has contracted Tollywood superstar Dev and Tollywood-Bollywood diva Raima Sen for endorsing its entire range of products – milk, curd and ice cream.
While the mining sector solution remains its forte, Dassault Systemes India is now betting big on the civil and construction verticals. Dassault Systemes, known for its 3D experience platform, has tasted success in this area in the development of the ‘virtual shipyard’ industry digital training programme in South Australia and implementation of smart city projects in Singapore, Jaipur (India), and Rennes (France).
With only two years to go to reach its centenary year, Duckback, the heritage brand, once almost synonymous with raincoats, waterproofs, rubber gumboot and luggage, is re-entering the market with a diverse basket before the festival season, under the new management. Duckback, one of the surviving strong brand originally owned by a Bengali business family (the Boses), had quitely changed hands nearly four years ago.
It had started its journey when East India Company began winding up from India and 73 years down the road, Eastern Chamber of Commerce (ECC), has set out on a new journey of branching out to other eastern and north-eastern states. That’s not all. ECC, founded in 1945, is also coming up with an innovative start-up lab to promote the startup ecosystem across the eastern and north-eastern states.
Over 250 organisations from across the world on Tuesday kicked off an International Fair Trade Charter (IFTC) that promises to set down fundamental values of fair trade and define a common vision towards achieving the UN’s sustainable development goals (SDGs).
Amidst speculations over a division in the Usha Martin (UML) board and the promoters’ family over the end-use of funds received from Tata Steel, the company’s board said that it is fully committed to the objective of selling the steel business to ‘repay its debts’.
Defence public sector undertaking Garden Reach Shipbuilders & Engineers (GRSE), which is in the process of raising nearly Rs 340 crore through the Initial Public Offering (IPO), will deliver 10 warships to the Indian Navy and Indian Coast Guard in the next 18 months.
The first of the three ‘Project 17 Alpha Frigates’ will be delivered to the Indian Navy in the middle of 2023, said GRSE chairman and managing director Rear Admiral (retd) VK Saxena.
India’s non-ferrous metal players have pressed the panic button for more reasons than one.
The battle in the fast growing water purifier market seems to be hotting up with Havells India Ltd, the leading fast moving electrical goods (FMEG) company and the newest entrant in the category, aggressively positioning its brand against the existing market leader Eureka Forbes from the stable of Shapoorji Pallonji Group and other top players like Kent, Pureit, Live Pure. Interestingly, Tata Swach has also joined the bandwagon. Quite significantly, the top two players, between themselves, control as much as 80 per cent of the organised sector market.