GRSE to deliver 10 warships to Navy, Coast Guard

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.

Havells enters water purification

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.

High MSP on jowar likely to be detrimental for the crop

There is nothing new in a government seeking to garner goodwill of farmers during the election time. And with the next general elections round the corner, the Narendra Modi government has came up with a bumper hike in minimum support prices (MSP) for 14 kharif crops.

CIL may shut 53 mines on safety grounds

The state-run coal behemoth, Coal India is mulling closing down of as many as 53 mines on ground of safety and financial viability, CIL chairman Anil Kumar Jha said on Wednesday.  CIL is looking at rationalising its underground mines in view of safety and financial viability, anyways. Jha said that CIL had given a project to Indian School of Mines to come up with a solution on how the underground mines can be managed-either by closing or by amalgamating or by converting them into open case mines.

China explores bullet train to Kolkata from Kunming

Chinese Consul General in Kolkata Ma Zhanwu said on Wednesday his country was mooting a bullet train service between Kunming and Kolkata, traversing through Myanmar and Bangladesh. With joint efforts of India and China, a high-speed rail link could be established between the two cities, Zhanwu said.

Quintessential milk company for over 125 years

For the 125+ year old heritage brand Keventer, ‘brand fatigue’ seems to be all but a marketing parlance as it sets out on a more vibrant and more aggressive path. Founded by Edward Keventer, a Swedish, who was recruited by the then British government in 1890 to modernise the Dairy industry in India and taken over by the MKJ Group in 1986, Keventer seems well set to become one of the largest food companies born out of eastern India.

Xiaomi eyes retail sales to add volumes

Xiaomi, the leading smartphone brand from the stable of Hongkong Stock Exchange-listed Xiaomi Corporation, which initially used to rely on online channels, has been increasingly moving towards offline sales, that is retail sales through physical outlets. Even one year ago, Xiaomi’s offline sales in India used to hover around 5 per cent and at present offline sales contribute 30 per cent of its overall sales in the country, said Anuj Sharma, the newly appointed chief marketing officer, Xiaomi India.

No discrimination against Biharis in Bengal: Mamata

Around two lakh Biharis were left out of the complete draft of National Register of Citizens (NRC), West Bengal Chief Minister Mamata Banerjee said Friday.

Addressing a programme hosted by the Rashtriya Bihari Samaj here Friday evening, she asserted there would be no discrimination against Biharis in West Bengal.

"In Assam, around two lakh Biharis did not find a place in the NRC draft. Several Bengalis were also excluded from the list. Majority of those left out of the draft were people who did not hail from Assam," the chief minister said.

Srei Q1 profit rises 114% at Rs 139 crore

Srei Infrastructure Finance reported a consolidated net profit of Rs 139 crore, up 114 per cent in the Q1 period ended June 2018, the company said on Wednesday.

The company had posted a net profit of Rs 65.15 crore in the corresponding period last year. Disbursement was at Rs 5,941 crore during the quarter under review, a rise of 35 per cent over the corresponding period last year.