Cipla receives DCGI approval to import Moderna’s Covid-19 vaccine to India

Cipla Limited has received an import license from the Drugs Controller General of India (DCGI) for restricted emergency use of Moderna’s Covid-19 vaccine in India. The vaccine will be used as part of donations from Moderna to our country. Currently, there is no commercial pact between Cipla and the US-based pharma giant. Moderna’s messenger mRNA vaccine will be the fourth Covid-19 jab to be available in India after Covishield, Covaxin, and Sputnik V. The vaccine has shown more than 90% efficacy in clinical trials for protection against Covid-19.

Read more here.

IRCTC Q4 Results: Net profit declines 23% YoY to Rs 104 crore

Indian Railway Catering and Tourism Corp. (IRCTC) Ltd reported a 23% YoY decline in net profit to Rs 103.8 crore for the quarter ended March (Q4). Its revenue from operations fell 41.2% YoY to Rs 338.8 crore during the same period. The revenues from its catering segment declined by 70% YoY to Rs 67.38 crore in Q4. Tourism sales declined by 69% YoY to Rs 31.6 crore. IRCTC’s board has recommended a final dividend of Rs 5 per share.

Read more here.

Reliance to invest in petrochemicals hub in Abu Dhabi: Report

According to a report from Economic Times, Reliance Industries Ltd (RIL) is planning to invest in petrochemical facilities in Abu Dhabi, as it strengthens energy ties with the Middle East. RIL is set to join projects at Abu Dhabi National Oil Company’s Ruwais refining hub. The report further states that Reliance will invest around $1.5 billion (~Rs 11,144 crore) in the facility.

Read more here.

IRFC Q4 Results: Net profit jumps 126% YoY to Rs 1,482.5 crore

Indian Railway Finance Corporation (IRFC) Ltd reported a 126.4% YoY jump in standalone net profit to Rs 1,482.5 crore for the quarter ended March (Q4). Net profit has declined by 85.84% when compared to the previous quarter. Its revenue from operations rose 39% YoY to Rs 4,455 crore during the same period. Net profit for the financial year 2020-21 (FY21) rose 38.35% YoY to Rs 4,416.13 crore. IRFC is the dedicated market borrowing subsidiary of the Indian Railways. 

Read more here.

Cyient earns partner-level status in John Deere Achieving Excellence (AE) program 

Cyient Limited has earned Partner-Level status in the John Deere Achieving Excellence (AE) Program for 2020. This is US-based Deere & Company’s highest supplier rating, awarded to companies for outstanding performance in product and service quality. Cyient is a supplier of multiple services to John Deere’s operations in India, including product design, simulation and analysis, cost management, application development, etc.

Read more here.

Jubilant Industries’ arm enters into strategic partnership with H.B. Fuller

Jubilant Agri and Consumer Products Ltd (JACPL), a wholly-owned subsidiary of Jubilant Industries Ltd, has signed a distribution agreement with US-based H.B. Fuller. This strategic collaboration will help expand the reach of H.B. Fuller’s high-performance adhesive solutions through a wide range of technologies. JACPL will serve as a national channel partner to H.B. Fuller.

Read more here.

DCM Shriram Q4 Results: Net profit declines 25% YoY to Rs 19.5 crore 

DCM Shriram Industries reported a 24.9% YoY decline in consolidated net profit to Rs 19.51 crore for the quarter ended March (Q4). Net profit has increased by 24.6% when compared to the previous quarter. Its revenue from operations rose 12.76% YoY to Rs 486.77 crore during the same period. Net profit for the financial year ended March 31, 2012 (FY21) declined by 32.5% YoY to Rs 64.75 crore. New Delhi-based DCM Shriram Industries manufactures and sells sugar, alcohol, power, chemicals, and industrial fibers.

Read more here.

GRSE deploys AI-enabled surveillance systems

Garden Reach Shipbuilders and Engineers (GRSE) Ltd has installed an artificial intelligence (AI)-enabled high-end CCTV network for surveillance at five of its units. The state-of-the-art technology will enable surveillance of the 152.81-acre area of the shipyard to ensure round-the-clock safety and security of all its premises. It will be a valuable tool for detecting unauthorized intrusion or trespassing. The cost of setting up the surveillance systems was Rs 12.95 crore

Read more here.

Parag Milk launches fat-free milk under the brand ‘Pride of Cows’

Parag Milk Foods Ltd announced its entry into the fat-free milk segment under the premium milk brand ‘Pride of Cows’. Fat-free milk will be available in Mumbai, Pune, and Surat at Rs 120 per litre. It will be offered at Rs 140 per litre in Delhi. The company will increase its milk production capacity to 2 lakh litres by 2026 to meet growing demand. Parag Milk Foods’ fat-free milk will also be available on the company’s existing subscription-based model.

Read more here.

GMDC Q4 Results: Net loss at Rs 185 crore

Gujarat Mineral Development Corp. (GMDC) reported a consolidated net loss of Rs 184.63 crore for the quarter ended March 2021 (Q4 FY21). It has posted a net profit of Rs 12.29 crore in the corresponding quarter last year (Q4 FY20). Its revenue from operations rose 37.4% YoY to Rs 565.80 crore in Q4 FY21. Net loss for the financial year ended March 31, 2012 (FY21) stood at Rs 39.34 crore. This is compared to a net profit of Rs 146.49 crore in FY20. GMDC’s board has recommended a dividend of Rs 0.2 per share.

Read more here.

Bharat Forge acquires 100% control of Sanghvi Forging and Engineering

Bharat Forge Ltd, through its wholly-owned subsidiary BF Industrial Solutions, has acquired 100% control of Sanghvi Forging & Engineering Ltd (SFEL). The company’s resolution plan for Sanghvi Forging was approved by the National Company Law Tribunal (NCLT) on April 26 and by the Committee of Creditors (CoC) of SFEL on February 17. SFEL manufactures open and closed die forging products for the oil & gas, defence, and shipbuilding industries.

Read more here.

Latest

Advertisement