Macrotech Developers plans to reduce debt below Rs 10,000 crore by FY22 end
Mon, May 17, 2021 2:14 PM

Macrotech Developers plans to reduce debt below Rs 10,000 crore by FY22 end

Macrotech Developers plans to reduce debt figure below Rs 10,000 cr by the end of FY22, Abhishek Lodha, MD & CEO opined. The company reported the first set of quarterly results post IPO and it’s been a decent showing. The revenue and margins look good but profit after tax is low. "We have made a strong and concerted focus towards becoming a net cash positive company by FY24," Abhishek Lodha said.

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Texmaco infra and Texmaco Rail shuts down manufacturing units in WB
Mon, May 17, 2021 2:00 PM

Texmaco infra and Texmaco Rail shuts down manufacturing units in WB

Texmaco Infrastructure & Holdings and Texmaco Rail & Engineering shut down offices and manufacturing sites until May 30, 2021. “In view of the impending Lockdown as announced by the Government of West Bengal today, Offices and Manufacturing sites will remain closed from close of business hours May 15, 2021 till May 30, 2021 or till such other date as may be further advised," the company said.

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Kesoram Industries reports net profit of Rs 167 crore
Mon, May 17, 2021 1:36 PM

Kesoram Industries reports net profit of Rs 167 crore

Kesoram Industries Limited for the year ended FY21 reported a Net Profit after Tax of Rs167cr as against a loss of Rs485cr for the corresponding previous year FY20. The company's performance has been enabled through a series of sustained corporate actions and the company's constant endeavour to enhance the value for its customers.

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Over 1 lakh sales mark achieved by TVS NTORQ in international markets
Mon, May 17, 2021 1:33 PM

Over 1 lakh sales mark achieved by TVS NTORQ in international markets

TVS Motor Company on Monday announced its scooter brand NTORQ 125 achieved more than one lakh sales milestone in the international markets. The company currently sells the scooter, which comes with various industry-first technologies like Bluetooth connectivity feature, in 19 countries across South Asia, Latin America, Middle East, and ASEAN.

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Federal Bank Q4 up 58.4% at Rs 521.24 crore
Mon, May 17, 2021 1:30 PM

Federal Bank Q4 up 58.4% at Rs 521.24 crore

Federal Bank reported -5.36% YoY fall in total consolidated revenues for the Mar-21 quarter at Rs3,996.43cr. Due to lower yield on loans, the interest income on loans was slightly lower although the interest on RBI deposits was higher YoY. For the Mar-21 quarter, the operating profits were lower by -5.01% at Rs928.38cr. Profit after tax (PAT) for the Mar-21 quarter was up by 58.41% at Rs521.24cr.

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Kings Infra & NEC Corp introduce proof of concept for Precision Aquaculture
Mon, May 17, 2021 1:21 PM

Kings Infra & NEC Corp introduce proof of concept for Precision Aquaculture

Kings Infra Ventures and NEC Corporation Japan attained a landmark in Precision Aquaculture when the Proof of Concept (PoC) project using Recirculated Aquaculture System (RAS) based shrimp Aquaculture along with Artificial Intelligence and IOT was launched on 3rd May 2021. The POC has the potential to disrupt the aquaculture technology globally by the multifold increase in growing densities.

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Healthcare Practitioners startup Virohan garners $3mn in a Series A Funding
Mon, May 17, 2021 1:16 PM

Healthcare Practitioners startup Virohan garners $3mn in a Series A Funding

Virohan raised $3 mn in a Series A funding round led by Rebright Partners. The edtech start-up provides vocational training for paramedics and allied healthcare practitioners. It aims to educate over 1mn students by the end of 2025. Virohan will use the funding to expand to over 160 new campuses pan India with an aim to strengthen the Indian healthcare system amid the ongoing covid-19 crisis.

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Camlin Fine Sciences nods to strategic investment in AlgalR NutraPharms
Mon, May 17, 2021 1:11 PM

Camlin Fine Sciences nods to strategic investment in AlgalR NutraPharms

Camlin Fine Sciences approved the strategic investment in AlgalR NutraPharms by way of acquisition of equity shares amounting to 69.33% of the existing paid‐up share capital. The company also approved subscription to the equity shares of AlgalR upon consummation of the Secondary Purchase and Primary Subscription, the Company will hold 80% of the paid‐up capital of AlgalR on a fully diluted basis.

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Rossari Biotech Q4 PAT rises 47% to Rs 22 crore
Mon, May 17, 2021 1:07 PM

Rossari Biotech Q4 PAT rises 47% to Rs 22 crore

Rossari Biotech Limited has announced its financial results for the fourth quarter and year ended March 31, 2021. Revenues from operations in the Q4'FY21 stood at Rs218.2cr as against Rs159.5cr, higher by 36.8%. EBITDA was at Rs35.2cr as against Rs24.0cr, up by 46.7%. Profit after tax (PAT) stood at Rs22.2cr as against Rs15.1cr, higher by 47.1%

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Indo Count shuts down industrial operations in Kolhapur until May 23
Mon, May 17, 2021 12:52 PM

Indo Count shuts down industrial operations in Kolhapur until May 23

Indo Count Industries on Sunday announced that the company has closed industrial operations until May 23, 2021, to comply with District Disaster Management, Kolhapur order. This will not have a material impact on its business. The Kolhapur district disaster management directed the industrial undertakings in Kolhapur to temporarily close the industrial operations for 8 days from May 15, 2021.

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VST Tillers Bengaluru factory employees accept Voluntary Retirement Scheme
Mon, May 17, 2021 12:39 PM

VST Tillers Bengaluru factory employees accept Voluntary Retirement Scheme

VST Tillers Tractors Limited announced on Sunday that the Voluntary Retirement Scheme for all eligible workmen of the Bengaluru Factory has been accepted by the workmen and the same has been implemented for workmen of the Bengaluru Factory. Further to the implementation of the VRS scheme, the Bengaluru tractor operation has been shifted to Hosur, Tamil Nadu.

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Clubhouse to unveil Android Version in India this Friday
Mon, May 17, 2021 12:33 PM

Clubhouse to unveil Android Version in India this Friday

US-based social app Clubhouse rolled out its App across the globe this week. While countries like Japan, Brazil and Russia will get the Android version by Tuesday (18th May), India will get it by Friday (21st May) announced the company. The app will be rolled out globally within this week itself. The app has opened up pre-registration for other markets on the Google Play Store.

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Tata, Godrej developing storage units for Moderna, Pfizer COVID-19 vaccines
Mon, May 17, 2021 12:25 PM

Tata, Godrej developing storage units for Moderna, Pfizer COVID-19 vaccines

Voltas and Godrej Appliances are expanding their vaccine storage unit production and upgrading technology to store Pfizer and Moderna vaccines at ultra-low temperatures. Voltas will launch the freezers required for the Pfizer and Moderna vaccines in August. Blue Star also said that the Pfizer and Moderna COVID-19 vaccines can be stored in its medical freezers, if transported along with dry ice.

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Honda Motorcycle and Scooter extends warranty, free service till July 31
Mon, May 17, 2021 12:16 PM

Honda Motorcycle and Scooter extends warranty, free service till July 31

Honda Motorcycle and Scooter India (HMSI) on Monday announced it has extended warranty and free service period till July 31, across all its dealerships in the country keeping in mind the second wave of the COVID-19 pandemic. The extension is applicable to those customers, whose vehicle's free service, warranty and extended warranty was originally ending between April 1 and May 31, 2021.

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Aarti Drugs Q4 revenue increases 12% YoY to Rs 503 crore
Mon, May 17, 2021 12:09 PM

Aarti Drugs Q4 revenue increases 12% YoY to Rs 503 crore

Aarti Drugs Limited consolidated revenue for Q4'FY21 stood at Rs 502.7cr, higher by 11.6% YoY from Rs450.6cr in Q4FY20 on account of robust volume growth. EBITDA grew 13.3% YoY to Rs81.9cr from Rs72.3cr in Q4FY20. EBITDA margin (%) expanded to 16.3%. Profit Before Tax (PBT) before exceptional item grew 24.7% YoY to Rs65.3cr from Rs52.3cr. PAT declined 12.3% YoY to Rs51.6cr compared to Rs58.9cr.

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